Starbucks baristas are paid above the minimum wage, even at the entry-level position. Phillips, R. (2003). Starbucks is a company that has in many ways promoted itself as an organization that is committed to the principle of stakeholder ethics and the related concept of corporate social responsibility or corporate citizenship. Which of the following is not a belief that businesses hold? which are the universal principles of behavior? c. marketing Select a product or service that will be sustainable. Which concept means that the owners (shareholders) of corporations, as well as directors and managers, are protected by laws stating that their losses in case of business failure cannot exceed the amount they paid for their shares of ownership? B. occurs during the monthly vulnerability scanning. Consumers support big box stores that offer quality goods and reasonable prices, Which of the following are Starbucks' stakeholders? As Starbucks, we can either choose to rise to this moment or stand idle. Certainly, Starbucks is a firm that contains or is associated with many kinds of stakeholders. b. globalization If the heirs of the business owner want to continue the business in their own names, they will be considered a new business, even if they are using the assets of the old business. So many customers now . c. Samsung assumed the risk of exposure and picked up the washers Lorem ipsum dolor sit amet, consectetur adipiscing elit. business and sustainability strategies. OpenStax Business Ethics Test Bank Chapter 3: Defining and Prioritizing Stakeholders Chapter 3: Defining and Prioritizing Stakeholders * = Correct answer Multiple Choice/Fill in the Blank 1. (Select all that apply. The concept of CSR is not one that is merely about corporations engaging adopting stakeholder ethics for its own sake, however important many of the ethical issues involved may be (Laplume, Karan & Litz, 2008). essence of Stouts view is concern that shareholders may want to maximize their investment at Nam risus ante, dapibus a molestie consequat, ultrices ac magna. What research did the BBC Earth Lab cite to prove or disprove that subliminal advertising is real? b. insufficient. The price of plastic straws had been increasing and Starbucks saw the proposal as an opportunity to both please stakeholders and cut costs d. Many cities were already considering plastic straw bans and agreeing to the proposal allowed Starbucks to act before regulatory action was taken b. Humongous Bank is required to hold 5% of its existing$20 million as reserves, and to loan out the rest. This includes Mexico, which has a Coca-Cola plant Some Starbucks stores have been accused of deliberately higher only part-time workers for limited numbers of hours for the purpose of avoiding the provision of healthcare and other benefits. The firm issued $3 billion in bonds, taking advantage of the. All companies must have a board of directors. What are some examples of how companies take into account the welfare of stakeholders? making sure the stores employees and the company policies were sensitive toward identifying Describe at least two ethical duties an employer owes to their employees. a. community Difficulty: Difficult And there are two types of stakeholders, including the primary and seconday stakeholders ( Clarkson, 1995). Legal compliances are a set of compound rules (laws) process emphasizes competition and speed.and processes used by attorneys and corporate legal departments to help govern themselves, the companies and/or employees they represent and lastly, the public they serve. STEP 1: DEFINE STAKEHOLDER ENGAGEMENT Discuss the meaning of stakeholder engagement. It is important to focus on employees and customers when considering the ways in which Starbucks is impacted by the principles of stakeholder ethics. It is the decision a person we chooses to be through the development of habits and the routine actions in which we choose to engage. AACSB: Real-world, Difficulty: Moderate Coffee producers are a major stakeholder for Starbucks because the firm has staked its reputation on high quality coffee. Answer: False. Journal of Business Ethics, 108(3), 285298. When expanded it provides a list of search options that will switch the search inputs to match the current selection. 52,000 workers in the US and many US companies now manufacture their products abroad. Download Assets. A stakeholder is any party, individual, or group interested in an organization's actions and outcomes. In the most generic form of stakeholder groups, Starbucks has an effect on its Employees, Customers, Community, Suppliers, Shareholders, Government, and Competitors. Answer: False, True or false? External stakeholders have a direct impact if they purchase a product and the relationship they have with a company. Which of the following is the lesson learned from the Edsel story? (A)[1,3](B)[0,2](C)[3,4]. Which is the best example of a novelty craze? Then, describe how that stated goal might affect how the following employees do their job: (a) a part-time store employeea baristain Omaha; (b) a quality assurance technician at the company's roasting plant in Amsterdam;(c) a regional sales manager; (d) the executive vice . Also, it is crucial that the company inform AACSB: Application, Difficulty: Moderate Coffee and tea growers are Starbucks ' main stakeholders who supply the needed raw materials. In the early 21st century, a slow but gradual change has taken place in the corporate world concerning questions of business ethics. b. Sarbanes-Oxley This file is copyright 2019, Rice University. Blooms: Understand Another concern that has been raised by Starbucks employees involves the issue of job security and insecurity of hours. In several sentences, describe one ethical issue related to the "access economy". How does a corporation prioritize stakeholder claims? Stakeholders: Essentially contested or just confused? be detrimental to a company. In addition with many other laws, current employees are not to work for competitors or set up competing companies that divert potential clients and opportunities. Nam lacinia pulvinar tortor nec facilisis. b. ethics is about what someone does Which of the following is true of Court decisions concerning symbolic speech? Find the absolute maximum and minimum, if either exists, for each function on the indicated intervals. A. her portrayal of the character was insincere In the case of Coca-Cola, its website discusses stakeholder engagement in a Which of the following sources of ethical guidance for businesses includes criminal penalties? Donec aliquet. Take airbnb for example, accommodations are not inspected while in a hotel, they are. The duty to obey a categorical imperative is irrespective of consequences. Identify and describe two factors that determine the ethics of "gift-giving" as opposed to bribery. Blooms: Remember In what ways do customers express their views about trust of company goods and services? The consumers also have a responsibility whether they end up liking the product or not and that is to make sure they let the company know whether they are doing a good job or not. His expertise also extends to areas such as leadership, corporate responsibility and business strategy. On one hand, Starbucks is frequently praised as a company that is committed to corporate social responsibility and stakeholder ethics when it comes to labor relations (Miles, 2012). \end{array} They From just a narrow storefront, Starbucks offered some of the world's finest fresh-roasted whole bean coffees. Speaking at the annual shareholders meeting in . Starbucks Corporate Technology's BI & Analytics team works to achieve this . Secondary stakeholders are media outlets, government, enviromentalist groups, and their competitors. discrepancy is stark. (Select all that apply.) a. Samsung's washers had a spin-cycle problem in 2017 Before-tax cost of debt and after-tax cost of debt: David Abbot is considering purchasing a Sony bond. True or False: CSR and greenwashing are the same concepts, True or False: it is important for executives to interact with outside-environment stakeholders such as media and government, True or False: the most important function of the board of directors is to hire the president of chief executive officer, True or False: all stakeholders must be treated the same, which of the following are the opposing views of how large, publicly held corporations should approach social responsibility and ethics? Certainly, programs of these kinds that have been maintained by Starbucks have been beneficial to some employees and are consistent with the principles of stakeholder ethics. Technology companies such as Facebook, Apple, and Yahoo (now owned by Verizon) have reported gender and ethnic shortfalls in their workforces. Environmentalists raise the issue of species and A. industry norms* : an American History (Eric Foner), Psychology (David G. Myers; C. Nathan DeWall), Biological Science (Freeman Scott; Quillin Kim; Allison Lizabeth), The Methodology of the Social Sciences (Max Weber). Laws dictate all ethical responsibilities that a company may owe key Develop or acquire assets and skills needed to implement the strategy. ), religious beliefs b. courage, honor, and loyalty Blooms: Understand Applicants must submit a complete application to receive an interview. MANGMT 4970 EXAM 1 (QUIZ QUESTIONS & CONCEPTS), Allen Cognitive Levels (ACL) & Allen Diagnost, CompTia A+ 220-1001 Core 1 Certification Prac, John David Jackson, Patricia Meglich, Robert Mathis, Sean Valentine, Service Management: Operations, Strategy, and Information Technology, Information Technology Project Management: Providing Measurable Organizational Value. this is an example of.. b. the Dutch and Native American trade Solicit, evaluate and apply suggestions for improving efficiency and cost effectiveness. Defectives16121414911118157812121516917161313151110109. An employees common law duty of loyalty to their employer prohibits the employee from using a former employer's confidential information and trade secrets on behalf of a subsequent employer as well. From the beginning, Starbucks set out to be a different kind of company. being committed to ethical business practices. Starbucks steps evinced a social consciousness and focus on stakeholders. Draw a T-account for the bank. urban and suburban communities Your description is too short, please give your document a clear desc Comp exam 2 - Study guide for exam 2 for MGMT 333, Exam One Written Notes - Outline of Chapter 22 (Electric Charges and Forces), Chapter 23 (The Electric, A10 Communication- Persuasive Speech. A. milk producers* B. urban and suburban communities* C. coffee and tea growers* D. plastic-cover manufacturers; Difficulty: Easy Blooms: Understand AACSB: Ethics. Building a trust with your customers through marketing is very important and I say this because first impressions determine whether or not a person will decide to buy your product. In several sentences, describe how ethical standards can shift with geography and time. Which commercial transaction in the New World exemplifies the complexity that results when different cultures, experiences, and ethical codes come into contact? he acknowledged that business was important in nurturing and preserving democracy in Athens. The access economy is a business model where goods and services are traded on the basis of access rather than ownership. changes. Although Starbucks lost profit from closing stores, it gained some credibility with communities. a. the "purchase" of Manhattan How much will money supply increase with that original loan of $19 million? Which of the following definitions best describes mercantilism? It is important for executives to interact with outside-environment stakeholders such as media and government. In three to four sentences, describe the difference between legal compliance and social responsibility. a. A firm's vision is the foundation for its mission. Often there is a hierarchy that places consumers or customers first. All Rights Reserved. a. consumerism Supply Chains Act also implicates the welfare of stakeholders. want companies to treat stakeholders well to encourage customer and employee loyalty. b. Yet there The name, inspired by Moby Dick, evoked the romance of the high seas and the seafaring tradition of the early coffee traders. (2013). Its normal and keeps things interesting in my opinion. It is insufficient to have a mission statement, language on a website, or Which of the following is an example of an external stakeholder of an organization? chief executive officer. (1997). a. her portrayal of the character was insincere Cross), Give Me Liberty! Starbucks set out on its current course in the 1980s . Which of the following are Starbucks' stakeholders? c. the theory that global wealth is static and prosperity comes from wealth through extraction Consider Fisher's remarks in the last two paragraphs. d. business should behave ethically, fulfilling a strategic mission, business should behave ethically, being responsible to all stakeholders, which of the following are starbucks' stakeholders? inauthentic in carrying out corporate social responsibility when the company already has * Starbucks prioritizes employees in its corporate social responsibility efforts. Q: Corporate-level strategy is best described as: a. strategies firms implement to gain a competitive advantage by selectin. Suppose that they do, and receive something completely different than what was shown on the market, do you think they will keep buying from that place? a hypothetical situation in which rational people can arrive at a contract. Blooms: Remember c. media Rawls's theory of justice views individuals as human resources, with their natural state as needing governance, and subjects them to a social contract of subjugation. The environment is not considered a stakeholder. (Select all that apply. Starbucks has also faced lawsuits concerning efforts to withhold tips from employees. For the long term, business operations need to inculcate stakeholder According to Donaldson and Preston, what are the three theoretical approaches to considering stakeholder claims? These servers are commonly referred to as baristas although actual owners and higher-level managers with Starbucks franchises are referred to within the company as partners. The relationship between Starbucks and the baristas is somewhat controversial concerning the issue of labor-management relations. Our responsibility starts with being accountable to Starbucks stakeholdersour partners, customers, shareholders, suppliers, community members and othersand communicating openly about our business practices and performance. I think of it like renting things temporarily rather than selling them permanently. AACSB: Real-world, C. greenwashing The most important function of the board of directors is to hire the president or People have argued that CSR initiatives based on environmental or social justice instead limit shareholder wealth and that the world's largest corporations executives consider the interests of a broader set of stakeholders, rather than only stockholders. \text { Cost } & \$ 930 & \text { Years to maturity } 10 & Miles, S. (2012). Felix Madison has $10,000 worth of property damage insurance and a$1,000 deductible collision insurance policy. A bribe is given with either an explicit or implied expectation of return that will benefit your business while a gift is given without any expectation of return and does not benefit your business. (Select all that apply.) The three Starbucks founders had two things in common: they were all coming from academia, and they all loved coffee and tea. Kroger take into account their suppliers, which include farmers. a. the responsibility a company has regarding justice and care such as Yelp where customers share their good and bad experiences. generations, such as the case with pollution. Read the following scenario and use the following five key questions in stakeholder management to determine how Starbuck's should handle this stakeholder: A few years ago, Starbucks identified three areas in which government could impact the company's ability to maximize profits in its Corporate Social Responsibility Report: (1) U.S. Tax . true or false: during the industrial revolution and the postindustrial era, the goal of businesses was to earn as high a profit as possible for shareholders, with little concern for outside stakeholders, true or false: even in business, ethics is not about human morality but rather about human consumption, true or false: unless key leaders have a vision for the organization and themselves, and a path to achieving it, there can be no balance of beliefs about profitability and responsibility, or integration of business with culture, true or false: religion's role in business is less certain today; we are perhaps more likely to see a universal, secular code of ethics develop than to see religion serve as common ground for different cultures to come together, businesses that wish to achieve the dual goal of human flourishing and responsible profits should model which ethical behavior? Answer: True, True or false? Employees are dissatisfied with the trust they receive from management and are seeking "representation" through unions. Which is the best example of a recent company crisis caused by poor leadership? True or false? What is the ethical issue behind issuing disaster insurance? When it comes to paying their "duties" to society, a corporation can do that by donating to places that need it or by using eco-friendly products. Pinched supply chains, the decimation caused by COVID, heightened tensions and political unrest, a racial reckoning and a rising generation which seeks a new accountability for business. B. entities and people with one role at one time to care for a business, What do peers and competitors as normative stakeholders influence? AACSB: Reflection, Difficulty: Difficult Entrepreneurs can still remain ethical while focusing on profit because they can't afford to have people disliking them as well as creating drama. Consumer feedback on social media sites does not affect a company's prospects or status as ethical. Sample Answer: Companies must take into account the welfare of stakeholders because it is D. Car manufacturers need to be quicker to the market. C. Defining a companys ongoing mission* Their concerns are identified through data gathering and analysis, d. her portrayal of the character offended stakeholders, her portrayal of the character offended stakeholders, which of the following best relates to prioritizing stakeholders? For ex. Pellentesque dapibus efficitur laoreet. Internal stakeholder In this part Internal stakeholders mean the hotel staff, as well as . List and briefly describe the three normative theories of ethics. a. an enumerated power listed in the constitution in the Bill of Rights They can affect how successful Starbucks is by doing their job and providing inputs into decisions that go into creating products and services that customers want. Ability to create, manage and deliver Workday reports and Dashboards for different stakeholder groups; Experience of managing and support of Operational changes such as re-organisations, identifying impacts on Workday; Experienced with internal and external audits, able to demonstrate a positive improvement approach As an illustration, Starbucks once became the focus of an alleged controversy involving what some people have claimed is a war on Christmas by issuing holiday cups that were neutral as far as the absence of any references to specific holidays. Which of the following describes the efficacy of legislation like the California Transparency in Supply Chains Act? A common law or principle stating that officers, directors, and managers of a corporation are not liable for losses incurred when the evidence demonstrates that decisions were reasonable and made in good faith is known as ________. Which of the following describes the relationship, if any, between the vision and the mission for a company such as Starbucks? In several sentences, describe one ethical draw-back of job-sharing. c. humanistic business model Misunderstanding and lack of communication tend to happen even more. Explain Lynn Stouts view of the role of shareholders and the implication for stakeholder The Porter's Five Forces analysis of Starbucks Corporation shows that these competitors and related industry factors and market factors combine to create the strong force of competitive rivalry in the food service industry environment. Answer: False. d. embraces freedom and a sense of divinity, the advantage of justice theory over other ethical systems is its Financial Analysis of PUMA and Nike, Inc. Starbucks Stakeholders: Employees and Customers. A. wages Which of the following are Starbucks' stakeholders? d. the Louisiana Purchase, South Korean companies like LG and Samsung employ . Farmers supply the coffee grains and tea that are necessary for production. stakeholders. consumed by 20% of the worlds population. governance. There are also organizations. c. actions a firm undertakes to satisfy the base threshold for acting ethically In the Supreme Court ruling Citizens United v. Federal Election Commission, which Amendment was at the center of the case? How is Starbucks diversifying in India to fit into the local culture? For Starbucks, its major stakeholders include employees, customers, suppliers and stockholders. a. humanity in ethics This is a great way to remind business' that not everything is about the money and how making a few changes can result as success in the long run. c. business should behave ethically, being responsible to all stakeholders AACSB: Application, Difficulty: Difficult normative, descriptive, and instrumental approaches. celebrated coffee and the rich tradition, but that also brought a feeling of connection. AACSB: Application, Analytical, Difficulty: Moderate To construct a p-chart for a manufacturing process, 25 samples of size 200 were drawn from the process. true or false: culture and ethics cannot be separated, because ethical norms have been established over time by and make sense to, people who share the same background, language, and customs. It must determine which are Starbucks has to account for the interests of the stakeholders because the company is not only viewed for profit but is also viewed as a member of society. Lorem ipsum dolor sit, s ante, dapibus a molestie consequat, ultrices ac magna. Defectives16149111581216171315109121411871215916131110\begin{aligned} Maintain strategic stakeholder engagement by working alongside fellow Project Delivery teams, Senior Management and your customers delivery lead/function to identify strategic issues; Oversee the quality assurance of estimates or model within the function to ensure they are fit for purpose Also, the manager of a company's ethical duty is to hire people that seems best for the job and not based on the color of their skin. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. cows and also pollutive, concentrating animal waste in the ground, air, and water. The most immediately visible and representative employees of Starbucks are the individuals that engage as servers in Starbucks stores. operations (CAFO). Competitors are one of the most significant external stakeholders of Starbucks. Starbucks is opening small cafes half the size of existing cafes. Every stakeholder has different interests depending on their relationship with an. There are may benefits owners receive from doing business as a corporate entity like Limited Liability, Perpetual Existence, Control, along with many others. a. ethics applies solely to business-making d. corporations need to manage expectations of customers, customers are considered high-priority stakeholders, True or False: sustainability is a short-term approach to the interaction between business activity, environmental responsibility and societal impact on the environment and other stakeholders, True or False: social responsibility does not have to mean being unprofitable, True or False: the concept of limited liability means the owners of corporations are protected by laws stating that, in most circumstances, their losses in case of business failure cannot exceed the amount they paid for their shares of ownership, which court decision rule that corporate and nonprofit business entities may seek to persuade the voting public by spending an unlimited amount of money on political advertisements? even perhaps industry standards? The viewpoint articulated by Friedman has slowly given way to a more expansive view of business ethics that is based on the principles of stakeholder theory. AACSB: Analytical. Copyright 2023 StudeerSnel B.V., Keizersgracht 424, 1016 GC Amsterdam, KVK: 56829787, BTW: NL852321363B01, Chapter 3: Defining and Prioritizing Stakeholde, A. minority- and women-owned small business owners*, A. In Richard DeGeorge's humanities model, business ethics would prepare students to do certain specific things. butler county fatal crash,
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