Its normal and keeps things interesting in my opinion. b. ethics is about what someone does (2013). uproar. B. Supervising middle and senior management consumed by 20% of the worlds population. Which of the following is especially important for developing and maintaining employee loyalty to the brand? protect than a trademark or patent. Media While a power-interest grid is usually used to determine the key stakeholders of a business on an ongoing basis, it can also be used to focus on key aspects of a short-term challenge or situation. 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. Blooms: Remember Once data are validated, managers present the social media, they are apt to speak up about their customer experience. The main reason for forming a corporation is to limit the liability of the owners. Laplume, A., Karan, S. & Litz, R. (2008). The following are the main stakeholders in Starbucks Coffee's business: Employees (baristas, partners) Customers Suppliers (supply firms, coffee farmers) Environment Investors Governments Employees. d. embraces freedom and a sense of divinity, the advantage of justice theory over other ethical systems is its While Starbucks has demonstrated some level of commitment to the principles of Starbucks regarding labor relations and employee retention, it is also clear that certain problems remain as well. Starbucks Corporate Technology's BI & Analytics team works to achieve this . What is the projected market size and growth rate of the Decaf Coffee Market? Nam risus ante, dapibus a molestie consequat, ultrices ac magna. even perhaps industry standards? ), True or false? inauthentic in carrying out corporate social responsibility when the company already has The shippers have also announced the suspension of both . c. the theory that global wealth is static and prosperity comes from wealth through extraction In 1981, Howard Schultz (Starbucks chairman and chief executive officer) had first walked into a Starbucks . Identify shareholders. As Starbucks, we can either choose to rise to this moment or stand idle. celebrated coffee and the rich tradition, but that also brought a feeling of connection. governance. Which insurance covers the damage to the fire hydrant? AACSB: Ethics, Application. What has unfolded at Starbucks is anything but. 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. Among the most important stakeholders with regard to Starbucks are the company's employees, customers, suppliers, investors, government, and the environment. a. business should behave ethically, focusing only on environmentalism Malaysian Airlines is another example of a company responsive to the stakeholder process. D. Car manufacturers need to be quicker to the market. Blooms: Apply For the long term, business operations need to inculcate stakeholder A. her portrayal of the character was insincere Using this, calculate the after-tax cost of the Sony bond given Davids tax bracket. (promenades; tarries). B. shareholders \end{array} (a) What is Friar Lawrence's plan for Juliet? This is viewed which are the universal principles of behavior? be detrimental to a company. Which of the following are steps in the MITRE stakeholder process? 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. Quality Glossary Definition: Stakeholder. Starbucks operates in more than 80 markets, either in the form of direct company-owned stores or licensed stores. The most immediately visible and representative employees of Starbucks are the individuals that engage as servers in Starbucks stores. Nam lacinia pulvinar tortor nec facilisis. Starbucks Coffee Company supports its competitive advantages through the characteristics of its corporate structure. c. customers are considered high-priority stakeholders The name, inspired by Moby Dick, evoked the romance of the high seas and the seafaring tradition of the early coffee traders. Secondary stakeholders are media outlets, government, enviromentalist groups, and their competitors. Labor union membership remains much higher in Europe and other Group of Seven countries than in the United States, in part because some of those countries allow managers to be members of the union. C. Stakeholder perceptions have a large impact on success. Consumers are demanding more than "product" from their favorite brands. The triple bottom line focuses on three things: profit, people, and planet. B. Felix Madison has $10,000 worth of property damage insurance and a$1,000 deductible collision insurance policy. c. Samsung assumed the risk of exposure and picked up the washers AACSB: Real-world, Difficulty: Moderate Every stakeholder has different interests depending on their relationship with an. Do companies have the responsibility to market their products with integrity? a. U.S. jurisprudence AACSB: Reflection, Difficulty: Difficult a positive bottom line. Intellectual- includes knowledge, wisdom, and prudence (the most important one). Donec aliquet. Cell differentiation and specialisation - GCSE, Fundamentals of Financial Management, Concise Edition, Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Marketing Essentials: The Deca Connection, Carl A. Woloszyk, Grady Kimbrell, Lois Schneider Farese. 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. Explain an employee's common law duty of loyalty to their employer. Which of the following is an example of an external stakeholder of an organization? companies. 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. It is important for executives to interact with outside-environment stakeholders such as media and government. AACSB: Real-world, Difficulty: Easy An ethical financial advisor must ________. This includes race, color, religion, national origin or ancestry, sex and so on. Maybe complaining online or in customer service reviews would be Starbucks then took the step to close its thousands of US stores to conduct racial bias Stakeholder theory and organizational ethics. C. coffee and tea growers* service, for example. 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. local, state, national, and international laws and regulations. (Select all that apply. Blooms: Apply Utilitarianism (the first normative approach to)- an ethical action is one whose consequence achieves the greatest good for the greatest number of people. such as media and government. The main difference between a bribe and a gift is intent. (A)[1,3](B)[0,2](C)[3,4]. ), Local governments are seeking to institute tax advantages to attract business competition. B. marketing* He had a tire blowout while driving and crashed into a $1,400 fire hydrant. An employee who works in the graphic design department of a large advertising agency most likely cannot moonlight after business hours for a friend's ________. Blooms: Analyze, Evaluate No.The responsibility a producer has is always being honest, even with their marketing campaigns. If corporations use social responsibilities, it is more likely they will be successful. 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. stakeholders that their concern was taken into consideration and will continue to be valued. a. What is a measure that accounts for an organization's results in terms of its effects on profits, planet, and people? the theory that prosperity depends on extracting wealth or accumulating it from others. The Occupational Safety and Health Administration (OSHA)a business' mission to prevent work-related injuries, illnesses and deaths under the Department of Labor. Summarize the ethical debate of whether corporations owe a duty to society or only to their owners. The concept of corporate social responsibility (CSR) involves the idea that corporations are not merely enterprises whose sole purpose is to generate revenue but organizations that are members of the communities and societies of which they are a part. people do not need some of the promoted products or services. Thirty years ago, Starbucks was a single store in Seattle's Pike Place Market selling premium-roasted coffee. Blooms: Remember In the most generic form of stakeholder groups, Starbucks has an effect on its Employees, Customers, Community, Suppliers, Shareholders, Government, and Competitors. OSX Ethics TB Ch03 Defining And Prioritizing Stakeholders, Chapter 3: Defining and Prioritizing Stakeholders, Difficulty: Easy 35.Deconfliction is necessary when the penetration test: A. determines that proprietary information is being stored in cleartext. Which seven-step guidelines are designed to help organizations with compliance and reporting? 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). Difficulty: Difficult systemic ethics problems. B. local and regional governments* Instead, the principles of stakeholder ethics and corporate social responsibility involve the idea that corporations will ultimately prosper to a greater degree when these principles are recognized. AACSB: Application, Real-world, Difficulty: Moderate gender reidentify stakeholders. b. competitors b. applying U.S. law regarding child labor globally Starbucks has, at times, been accused of racial discrimination as well as transgender discrimination. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. A) Employees B) Customers C) Shareholders D) Economy There is a common agreement among the public that corporate directors have a duty to maximize corporate profits and shareholder value, even if this means skirting ethical rules. a. courage, decorum, and accountability A. It is ineffective because it only requires disclosure of information about suppliers' working conditions and does not govern those suppliers. b. Humongous Bank is required to hold 5% of its existing$20 million as reserves, and to loan out the rest. Accordin to Freeman (1984), stakeholders are anyone that can influence or be influenced by the company's actions. (Select all Access to over 100 million course-specific study resources, 24/7 help from Expert Tutors on 140+ subjects, Full access to over 1 million Textbook Solutions. A. finance* * B. government liaison/lobbying director including surveys or social media, for example. (Select all that apply.). 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 . b. globalization For ex. c. her portrayal of the character offended shareholders Starbucks Stakeholder Analysis. which of the following most likely contributes to a corporation's positive work atmosphere over the long term? (Select all that apply. This can be a consumer who is unable to express their discontent with a product or a. the barista at Starbucks b. the Starbucks district manager c. the President and CEO of Starbucks d. customers who go to Starbucks for a latte They can be found working as baristas, store managers, or regional executives. Furthermore, there is Which of the following laws ensures that employers provide a workplace environment free of risk to employees' safety and health? How is Starbucks diversifying in India to fit into the local culture? It has had success in the United States McDonald's London, England, United Kingdom1 month agoBe among the first 25 applicantsSee who McDonald's has hired for this roleNo longer accepting applications. a. pollution tax Find the absolute maximum and minimum, if either exists, for each function on the indicated intervals. To construct a p-chart for a manufacturing process, 25 samples of size 200 were drawn from the process. &\begin{array}{ccccccccccccc} f(x)=x48x2+16f(x)=x^{4}-8x^{2}+16 \text { Par value } & \$ 1,000 & \text { Coupon interest rate 6\% } & \text { Tax bracket 20\% } \\ c. They have extended protections to only some forms of symbolic speech. C. legislatures In what ways do customers express their views about trust of company goods and services? Many people in the UK will have a product from Thornton & Ross somewhere at home. 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. Which of the following is an example of an external stakeholder of an organization? Which of the following is not a belief that businesses hold? How are Ben & Jerrys and Coca-Cola respective examples of greenwashing? A lot of business' only focus on how much profit or loss their company has when they should also take into account on how their employees are doing and on the impact their business has on the economy. 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). The coffeehouse company must strengthen its competitive advantages accordingly. Blooms: Understand Cambridge: Cambridge University Press. As for ethical duties, they are standards based on human principles of right from wrong. b. Sarbanes-Oxley This is a lofty goal, especially given Coke products are is corporate opportunism and the possibility that committed stakeholders are exploited. AACSB: Analytical. Community members may view big box stores as a threat to small businesses' livelihood. The most important function of the board of directors is to hire the president or and China, for example, by adapting to local cultural norms. Since the advent of A. milk producers* B. urban and suburban communities* C. coffee and tea growers* D. plastic-cover manufacturers; Difficulty: Easy Blooms: Understand AACSB: Ethics. PR was necessary for activists to gain a following, formulate a common message against Starbucks, and keep the company accountable to the public for this incident. AACSB: Application, Real-world. Coffee producers are a major stakeholder for Starbucks because the firm has staked its reputation on high quality coffee. A. entities and people invested and influential in the success of an organization* Farmers supply the coffee grains and tea that are necessary for production. Starbucks set out on its current course in the 1980s . I say this because with many different opinions being thrown in the air, being on the same boat is not the easiest thing. Which concept holds that workers should be paid on the basis of the value of their job to the organization? Consult with business partners, managers or other key stakeholders. Pay Range : $123,600- $193,200/ annually. a. customers are not considered high-priority stakeholder 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. c. is an unattainable goal of perfect virtue Also, it is crucial that the company inform Here is a list of some of the most common external stakeholders your organization may work with: Customers Communities Nam risus ante, dapibus a molestie consequat, ultrices a, View answer & additonal benefits from the subscription, Explore recently answered questions from the same subject, Explore documents and answered questions from similar courses. Berrett-Koehler Publishers. The people in this economy have $20 million in money, and they deposit all their money in Humongous Bank. UmweltWirtschaftsForum, 21(1), 59. Home4Dance Huddersfield, England, United Kingdom3 weeks agoBe among the first 25 applicantsSee who Home4Dance has hired for this roleNo longer accepting applications. In other words, enculturation is taking control over one's own culture, whereas acculturation is the merge of two cultures. Freeman is best known for his work on stakeholder theory and business ethics, in which he suggests that businesses build their strategy around their relationships with key stakeholders. Enacted in 1966, which of the following laws is the most important U.S. law forbidding cruelty to animals in laboratory settings? b. the Dutch and Native American trade It is in a business's best interest to promote human flourishing within the organization by providing ________. 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. Blooms: Remember b. carbon tax 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. Multiple highly publicized incidents involving conflicts between Starbucks and its customers have been detrimental to the companys reputation in the area of corporate social responsibility. In the United States, Ikea displays (Select all that apply.) Which of the following is considered the most important internal stakeholder of a corporation? Sample Answer: Lynn Stout believed that shareholders do not necessarily behave as a class. beds, which is acceptable in that culture. c. conscientiousness, honor, and accountability c. media While there are many disadvantages of job-sharing including need for additional supervisory time, possible disruption of work flow, scheduling challenges for training and meeting, but the worst one in my opinion is communication. If Starbucks follows a strategy of competing in more than one business product, which of the following goals could it accomplish? A. industry norms* This file is copyright 2019, Rice University. c. environmental tax Difficulty: Moderate being committed to ethical business practices. Which of the following are Starbucks' stakeholders? The phrases Starbucks and Coffee were later removed from the cup so that the brand might potentially extend beyond coffee products. d. business values, which of the following definitions best describes consumerism? A. chief legal officer He has the following security-related information: Parvalue$1,000Couponinterestrate6%Taxbracket20%Cost$930Yearstomaturity10\begin{array}{llll} 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? companies that intentionally keep hours at less than 29 to avoid more costly regulations like the ACA Of course companies have the responsibility to market their products with integrity because without them, the business would be no where. Starbucks is a global coffee company that has a diverse group of stakeholders who have an interest in the company's performance and actions. 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. Legal duties of a corporation are the legal standards that are in governmental laws for example, a duty to report a felony or to keep premises clean. Answer: True, True or false?
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