essence of Stouts view is concern that shareholders may want to maximize their investment at Which of the following is especially important for developing and maintaining employee loyalty to the brand? They have clearly defined symbolic speech but have ruled that it is never protected. Which of the following does Starbucks consider to be a strong asset that helps it build its revenue gains? a. U.S. jurisprudence Starbucks: Not A Well-Conceived CEO Succession Plan - SeekingAlpha A. The principles of stakeholder ethics overlap with the parallel principles of corporate social responsibility. This is viewed The mayor's wife often___ to the front of church on Sunday to show off her expensive, new clothes. Which of the following are Starbucks' stakeholders? These are standard stakeholders of almost every business that operates in the United States or overseas. One that not only. A firm's vision is the foundation for its mission. Managing and executing the strategy of a company, B. Supervising middle and senior management, D. Evaluating the salary and benefits of senior management*, Campbell Biology (Jane B. Reece; Lisa A. Urry; Michael L. Cain; Steven A. Wasserman; Peter V. Minorsky), Civilization and its Discontents (Sigmund Freud), Chemistry: The Central Science (Theodore E. Brown; H. Eugene H LeMay; Bruce E. Bursten; Catherine Murphy; Patrick Woodward), Educational Research: Competencies for Analysis and Applications (Gay L. R.; Mills Geoffrey E.; Airasian Peter W.), Forecasting, Time Series, and Regression (Richard T. O'Connell; Anne B. Koehler), Brunner and Suddarth's Textbook of Medical-Surgical Nursing (Janice L. Hinkle; Kerry H. Cheever), Principles of Environmental Science (William P. Cunningham; Mary Ann Cunningham), Business Law: Text and Cases (Kenneth W. Clarkson; Roger LeRoy Miller; Frank B. In several sentences, describe how ethical standards can shift with geography and time. Blooms: Understand Answer: True, True or false? Therefore, some employees work for Starbucks to gain that status. What is a measure that accounts for an organization's results in terms of its effects on profits, planet, and people? (Select all that apply. For that law, companies are. Describe Kant's "Deontology" view of ethics. Which of the following are Starbucks' stakeholders? C. remuneration The way corporations pay their "duties" to the owners is by distributing the profits to shareholders in the form of dividends after earning revenue and deducting expenses. Nam lacinia pulvinar tortor nec facilisis. (a) What is Friar Lawrence's plan for Juliet? d. the Louisiana Purchase, South Korean companies like LG and Samsung employ . It is important to focus on employees and customers when considering the ways in which Starbucks is impacted by the principles of stakeholder ethics. On the other hand, Starbucks has often been criticized as a firm that is hypocritical in his approach to such matters by claiming to be a company that abides by the principles of stakeholder ethics while treating its employees poorly. have? Which legislation was passed in 2002 that mandates reporting transparency by businesses in areas ranging from finance to accounting to supply chain activities? B. local and regional governments* Starbucks hiring manager, program management- corporate technology in For the long term, business operations need to inculcate stakeholder Secondly, Starbucks Coffee Company is a big name and anybody loves to be associated with a big company. Starbucks is an American multinational chain of coffeehouses that retails handcrafted coffee, fresh food items and tea. Which of the following best describes information that has economic value because it is not generally known to the public and is kept secret by reasonable means? Sample Answer: In May 2018, Starbucks closed its stores after an incident in which two African a. implementation of values which of the following most likely contributes to a corporation's positive work atmosphere over the long term? Which of the following are Starbucks' stakeholders? Starbucks shareholders reject CEO pay proposal in rare move Misunderstanding and lack of communication tend to happen even more. Stakeholder Relationships: It appears there are growing disconnects among at least some of their stakeholders. Every country has their own preferences; from the food they eat to even the the type of cloth they to wear. : 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). Journal of Business Ethics, 108(3), 285298. (Select all that apply.). 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. (Select all that apply. b. the doctrine that a corporation has some of the same legal rights and responsibilities enjoyed by natural persons &\text { Defectives }\\ 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. Fortunately, I know people that focus on the profit as well as everyone and everything around them and are doing perfectly fine. b. Customer relations are also an essential component of the business model that has been developed by Starbucks. Managing and executing the strategy of a company These stakeholders include shareholders, employees, customers, suppliers, communities, and governments. which of the following are starbucks' stakeholders 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. PDF RESPONSIBLE BUSINESS PRACTICES - Starbucks Coffee Company 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. Bonus Eligible : Yes. Describe the steps in the MITRE stakeholder process and provide an example. 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. generations, such as the case with pollution. f(x)=x48x2+16, (A)[1,3](B)[0,2](C)[3,4](A)\ [-1,3]\qquad (B)\ [0,2]\qquad (C)\ [-3,4] 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. 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. Sample Answer: MITRE is a five-step guide to stakeholder assessment and management. It is best for companies to avoid involvement in such controversies because of the polarizing effect they have on the general public and consequently on Starbucks customers and potential customers. Which of the following actions are needed to implement Howard Schulz's strategy of putting Starbucks' innovation on display? In Richard DeGeorge's humanities model, business ethics would prepare students to do certain specific things. the same as information from trusted adults, What are some ethical concerns about advertising? Phillips, R. (2003). with Starbucks in lieu of a civil action against the corporation. Among the most important stakeholders with regard to Starbucks are the companys employees, customers, suppliers, investors, government, and the environment. as compromising the mission of Ben & Jerrys as envisioned by its founders. influence suppliers working conditions. B. urban and suburban communities* &\begin{array}{ccccccccccccc} The main difference between a bribe and a gift is intent. The airline is now focused on promoting Muslim (1997). A normative approach views stakeholders as ends in themselves rather want companies to treat stakeholders well to encourage customer and employee loyalty. Starbucks operates in more than 80 markets, either in the form of direct company-owned stores or licensed stores. The coffee farmers supply coffee to Starbucks. a. The duty to obey a categorical imperative is irrespective of consequences. Nam lacinia pulvinar tortor nec facilisis. AACSB: Ethics, Application. (Select all that apply.) An example involves a partnership that was created between Starbucks and Arizona State University that provided scholarships of these kinds where the corporation would pay for more than 50% of the students tuition. AACSB: Application, Difficulty: Easy Employees and customers are the two most visible manifestations of the activities of Starbucks and certainly the most visible stakeholders (Mansell, 2013). Examples Of Verizon Stakeholders - 818 Words | Internet Public Library FedEx and UPS, two of the largest shipping companies in the world, have both stopped sending shipments to Russia. urban and suburban communities OSX Ethics TB Ch03 Defining And Prioritizing Stakeholders 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 There are also organizations. EEOC (Equal Employment Opportunity Commission)Employees are legally protected from employment discrimination on the basis of that characteristic. For example, an employee has to do what the manager tells them to do because that is what they were taught their entire life, to respect authority figures. (Select all that apply. It is in a business's best interest to promote human flourishing within the organization by providing ________. Capitalism, corporations and the social contract: A critique of stakeholder theory. Mansell, S. (2013). Which of the following is considered the most important internal stakeholder of a corporation? Thirty years ago, Starbucks was a single store in Seattle's Pike Place Market selling premium-roasted coffee. 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. Answer: True, True or false? 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 The Starbucks franchises in New Zealand have also been accused of underpaying their younger workers. C. legal compliance* It must determine which are Many people now a days are very open-minded and whether you like it or not, it is just the reality of todays society. Why does a Kantian view typically not govern most management decisions? Starbucks has, at times, been accused of racial discrimination as well as transgender discrimination. c. business should behave ethically, being responsible to all stakeholders 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. Select the best answer. Business ethics Final exam Flashcards | Quizlet Donec aliquet. Corporations, directors and managers are all protected by laws saying that in most circumstances, their losses in case of business failure cannot exceed the amount they paid for their shares of ownership. Starbucks baristas are paid above the minimum wage, even at the entry-level position. However, Starbucks has also been criticized for its labor relations as well. d. ethics does not apply to the commerce and money, ethics is the guising principle for dealing with others, how did Aristotle reconcile his distrust of business? Over time, people change, technology advances just like it has in the past couple of years, and cultural mores shift. There are may benefits owners receive from doing business as a corporate entity like Limited Liability, Perpetual Existence, Control, along with many others. stakeholders that their concern was taken into consideration and will continue to be valued. d. They have ruled that symbolic speech is always protected. An analysis of perceived priority of shareholder impact should include which of the following? ), religious beliefs Video Case 4 Starbucks Corporation: Serving More Than Coffee For ex. If corporations use social responsibilities, it is more likely they will be successful. a. community Consequently, the ways in which Starbucks engages with these two groups of stakeholders is a significant reflection on the corporations approach to stakeholder concerns on a more general level. Message from Howard Schultz: On the Future of Starbucks Develop or acquire assets and skills needed to implement the strategy. He has the following security-related information: Parvalue$1,000Couponinterestrate6%Taxbracket20%Cost$930Yearstomaturity10\begin{array}{llll} Analyzing Starbucks' Value Chain - Investopedia Yet there Among the most important stakeholders with regard to Starbucks are the company's employees, customers, suppliers, investors, government, and the environment. Furthermore, there is Defectives16121414911118157812121516917161313151110109. Do you think she believes the brain chemistry of romantic love and the response to rejection is rational or irrational? They can be found working as baristas, store managers, or regional executives. Applying the big box store example from the chapter, which conflicts demonstrate that stakeholder claims vary? The welfare. companies. Which of the following is a resource made available to employees, in addition to salary? b. applying U.S. law regarding child labor globally he acknowledged that business was important in nurturing and preserving democracy in Athens. a. honesty and integrity b. virtue ethics and utilitarianism c. loyalty to management d. respect for business diversity honesty and integrity True or False: The environment is not considered a stakeholder false (Select all that apply.) To uphold honorable standards of behavior. Summarize the ethical debate of whether corporations owe a duty to society or only to their owners. (Select all that apply.) a. promising to earn less profit per share Employees are one of the most important internal stakeholders of Starbucks. Freeman, R. E. & Moutchnik, A. Identify shareholders. 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. Starbucks CEO Kevin Johnson earned a $1.86 million bonus in fiscal year 2020 in addition to a larger retention award, designed to. stakeholder needs. Cambridge: Cambridge University Press. We are, therefore, Which of the following are well-documented outcomes? American men were arrested while waiting for a friend at a Starbucks. For the coffee producers, Starbucks' position with regards to their needs can have a tremendous impact on the ways in which other coffee purchasers treat them as well. d. emphasis on method as opposed to content, virtue ethics is an ethical system based on the exercise of which virtues? Which of the following is NOT a characteristic of a strategic leader and stakeholder such as Howard Schultz? a. her portrayal of the character was insincere D. stakeholder prioritization, Difficulty: Easy 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. normative, descriptive, and instrumental approaches. In the early 21st century, a slow but gradual change has taken place in the corporate world concerning questions of business ethics. a. milk producers They inauthentic in carrying out corporate social responsibility when the company already has Which of the following is not an example of a diffused shareholder? a. an enumerated power listed in the constitution in the Bill of Rights The international standard providing guidance on social responsibility, called ISO 26000, defines a stakeholder as an "individual or group that has an interest in any decision or activity of an organization." Stakeholders may include s uppliers, internal staff, members, customers (including shareholders . An ethical financial advisor must ________. Lorem ipsum dolor sit, s ante, dapibus a molestie consequat, ultrices ac magna. 16 & 14 & 9 & 11 & 15 & 8 & 12 & 16 & 17 & 13 & 15 & 10 & 9 \\ which are the universal principles of behavior? c. her portrayal of the character offended shareholders From just a narrow storefront, Starbucks offered some of the world's finest fresh-roasted whole bean coffees. Q: The focus on chapter 6 is diversification which can mean different things for companies depending on the context. 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. A. industry norms* A. milk producers* B. urban and suburban communities* C. coffee and tea growers* D. plastic-cover manufacturers Blooms: Understand In the case of Dodge v. Ford Motor Company, the Michigan Supreme Court ruled in favor of shareholder primacy. Which of the following are steps in the MITRE stakeholder process? A. her portrayal of the character was insincere Decaf Coffee Market Size is projected to Reach Multimillion USD by 2028, In comparison to 2023, at unexpected CAGR . Which is the best example of a recent company crisis caused by poor leadership? Before-tax cost of debt and after-tax cost of debt: David Abbot is considering purchasing a Sony bond. CALYX hiring Director, HRIS in Nottingham, England, United Kingdom D. plastic-cover manufacturers, Which are some types of stakeholder relationships that a local chamber of commerce would Words and actions like the following emerge: Focus Groups, Surveys, Beta Tests, Small Group Discussions, Grant Requests, Operational Plans, Pitch Decks, Research Projects, Feedback Loops Focus and care for this stakeholder group could not be higher in most cases. d. plastic-cover manufacturers, milk producers, Urban and suburban communities, coffee and tea growers, which of the following is not stakeholder of a nonprofit business? The emphasis was on (Select all that apply. Miles, S. (2012). Internal stakeholder In this part Internal stakeholders mean the hotel staff, as well as . 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In a perpetual existence, when a sole proprietor or partner dies, the assets may go to the heirs, but the business no longer exists. AACSB: Application, Ethics, Difficulty: Moderate It is important for executives to interact with outside-environment stakeholders Which of the following entrepreneurs is known for having an easygoing personality?
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