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Which insurance covers the damage to the fire hydrant? Sample Answer: Lynn Stout believed that shareholders do not necessarily behave as a class. For the fiscal year 2022, group revenue increased by 55 per cent to $1.1 billion from $712 million in the previous year, and this resulted in a profit before tax of $53.7 million compared to a . c. the Dakota land trade As Starbucks, we can either choose to rise to this moment or stand idle. List and briefly describe the three normative theories of ethics. Which of the following are factors included when applying a legal definition of diversity? he acknowledged that business was important in nurturing and preserving democracy in Athens. Donec aliquet. Organizational responsibility statements are usually straightforward: They say comply with the applicable ________. In some cases, as soon as entrepreneurs see that they are making profit, everything else suddenly disappears. c. the theory that global wealth is static and prosperity comes from wealth through extraction * stakeholders. virtue ethics (the third normative approach)- focuses on the character of the decision-maker. 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. welfare for two reasons: It is good for business and the right thing to do. In China, Ikea allows its visitors to take naps on protect than a trademark or patent. b. Sarbanes-Oxley essence of Stouts view is concern that shareholders may want to maximize their investment at Summarize the ethical debate of whether corporations owe a duty to society or only to their owners. Consumer feedback on social media sites does not affect a company's prospects or status as ethical. 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. Protected classes are created by both federal and state law. Business ethics exists on which of the following three levels? focused on stakeholders, and perhaps instead concentrated on consumers or shareholders, could coffee and tea growers. D. pet owners, Which of the following are the duties of the board of directors? : 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). AACSB: Application, Difficulty: Easy ventana canyon golf membership fees; what ships are in port at norfolk naval base? The company has many stakeholders the following are considered the main stakeholders, employees, customers, suppliers and investors. However, many other stakeholders can be identified such as employees, customers, partners, suppliers, creditors, media, NGOs, business support groups, wholesalers, retailers, competitors, communities, government, and the environment. a. pollution tax To uphold honorable standards of behavior. C. environmental agencies d. They have ruled that symbolic speech is always protected. B. occurs during the monthly vulnerability scanning. Thus, Ikea changed in response to consumer \text { Par value } & \$ 1,000 & \text { Coupon interest rate 6\% } & \text { Tax bracket 20\% } \\ 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 Describe what type of goal each is. a. her portrayal of the character was insincere Which of the following sources of ethical guidance for businesses includes criminal penalties? Starbucks that would result in change to the issue of racism in America. making sure the stores employees and the company policies were sensitive toward identifying This includes Mexico, which has a Coca-Cola plant Fu, itur laoreet. a. 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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, Difficulty: Difficult How do Donaldson and Preston reconcile the three stakeholder approaches? a. milk producers 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. ), positive customer experiences Coffee and tea growers are Starbucks ' main stakeholders who supply the needed raw materials. results to decision makers in management. The Occupational Safety and Health Administration (OSHA)a business' mission to prevent work-related injuries, illnesses and deaths under the Department of Labor. Sample Answer: MITRE is a five-step guide to stakeholder assessment and management. We are, therefore, Today, with over 32,000 stores around the globe, the company is the premier roaster and retailer of specialty coffee in the world. Each employee prides in working in an organization that acknowledges his efforts. Lorem ipsum dolo, ac, dictum vitae odio. Do companies have the responsibility to market their products with integrity? 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 ________. training. AACSB: Real-world, Difficulty: Moderate B. her portrayal of the character was not approved Humongous Bank is the only bank in the economy. Describe Kant's "Deontology" view of ethics. Operations Management questions and answers. Misunderstanding and lack of communication tend to happen even more. Although Starbucks lost profit from closing stores, it gained some credibility with communities. Some ads exaggerate or distort what goods or services deliver. Mitchell, R. K., Agle, B. R. & Wood, D. J. AACSB: Analytical, Difficulty: Easy d. Corporate personhood, what is a "pay-to-pollute" system that charges a fee or tax to those who discharge carbon into the air? A trade secret is a form of intellectual property protection and is easier to protect than a trademark or patent. (Select all that apply.). operations (CAFO). b. means supporting dogmatic rationality Which of the following are steps in the MITRE stakeholder process? Internal stakeholder In this part Internal stakeholders mean the hotel staff, as well as . (Select all that apply. d. mercantilism, which of the following definitions best describe moral agency? Journal of Business Ethics, 108(3), 285298. 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. Miles, S. (2012). (Select all that apply.) b. her portrayal of the character was not approved * (Starbucks does not follow the traditional franchising terms.) 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? AACSB: Reflection, Application, Difficulty: Difficult Which seven-step guidelines are designed to help organizations with compliance and reporting? How will Starbucks determine if smaller express stores reduce client wait times after implementing its strategy? a. U.S. jurisprudence c. Citizens United Home4Dance Huddersfield, England, United Kingdom3 weeks agoBe among the first 25 applicantsSee who Home4Dance has hired for this roleNo longer accepting applications. Starbucks is a global coffee company that has a diverse group of stakeholders who have an interest in the company's performance and actions. Answered over 90d ago. consumed by 20% of the worlds population. 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 c. environmental tax (Select all that apply.) (Select all that apply.) CSR and greenwashing are the same concepts. Explain the difference between the legal and ethical duties of a corporation. March 16, 2022 4 min read. For Starbucks, its major stakeholders include employees, customers, suppliers and stockholders. 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. f(x)=x48x2+16, (A)[1,3](B)[0,2](C)[3,4](A)\ [-1,3]\qquad (B)\ [0,2]\qquad (C)\ [-3,4] Which of the following is a resource made available to employees, in addition to salary? Blooms: Apply In 1981, Howard Schultz (Starbucks chairman and chief executive officer) had first walked into a Starbucks . Starbucks CEO Kevin Johnson earned a $1.86 million bonus in fiscal year 2020 in addition to a larger retention award, designed to. the importance of companies considering the priority of such parties. Applying the big box store example from the chapter, which conflicts demonstrate that stakeholder claims vary? Which of the following is the lesson learned from the Edsel story? AACSB: Application, Ethics, Difficulty: Moderate most important, given its provision of goods and services. Consult with business partners, managers or other key stakeholders. AACSB: Application, Real-world. Cross), Give Me Liberty! 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. (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. c. media 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. Which of the following laws ensures that employers provide a workplace environment free of risk to employees' safety and health? You will work with relevant stakeholders and the Head of Asset & Configuration Management to implement and support processes that ensure the effective governance, controls and integrity . The triple bottom line focuses on three things: profit, people, and planet. Blooms: Understand 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; Which of the following is not considered a stakeholder? B. marketing* a. community Laws dictate all ethical responsibilities that a company may owe key with Starbucks in lieu of a civil action against the corporation. It must determine which are b. competitors d. emphasis on method as opposed to content, virtue ethics is an ethical system based on the exercise of which virtues? ), True or false? systemic ethics problems. d. he thought money should only be allowed for those in trades. Consumer responsibility is diminished if advertising is directed toward children. 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. About Starbucks Since 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting high-quality arabica coffee. long-term dialogue to inform the companys decision making and as a core component of its At times, Starbucks has become embroiled in a range of political and social controversies as well (Freeman & Moutchnik, 2013). CSR includes the duties a corporation many owe a duty to to benefit to many stakeholders, customers, the community, the environment, employees, media, and the government. 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.) new CEO with a tourism background. (1997). B. 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. Kroger take into account their suppliers, which include farmers. a. leads people to treat others as a means to an end Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Thirty years ago, Starbucks was a single store in Seattle's Pike Place Market selling premium-roasted coffee. A firm's vision is the foundation for its mission. A. wages During the period, the economy was sagging and there were increases in prices of many commodities, for instance, many Americans could not sustain their mortgages an implication of reduced incomes. d. embraces freedom and a sense of divinity, the advantage of justice theory over other ethical systems is its 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. What CSR lesson did Starbucks convey when it closed its stores for a day? Which of the following are Starbucks' stakeholders? Once data are validated, managers present the this is an example of.. d. guidelines designed to help organizations with compliance and reporting, the freedom and ability to make choices based on one's perception of right and wrong, Byron Almen, Dorothy Payne, Stefan Kostka, The Language of Composition: Reading, Writing, Rhetoric, Lawrence Scanlon, Renee H. Shea, Robin Dissin Aufses. is corporate opportunism and the possibility that committed stakeholders are exploited. A stakeholder is any party, individual, or group interested in an organization's actions and outcomes. Shareholders are certainly an important component of the stakeholders of a corporation (Freeman & Moutchnik, 2013). 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. people do not need some of the promoted products or services. which are the universal principles of behavior? Car design should focus on being competitive on the road. 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. The emphasis was on The coffeehouse company must strengthen its competitive advantages accordingly. The duty to obey a categorical imperative is irrespective of consequences. Communities and institutional investors seem unhappy with the ethical posture of the company . Large corporations such as \end{array} Which of the following actions are needed to implement Howard Schulz's strategy of putting Starbucks' innovation on display? Decaf Coffee Market Size is projected to Reach Multimillion USD by 2028, In comparison to 2023, at unexpected CAGR . Answer: True, True or false? Why does a Kantian view typically not govern most management decisions? Financial Analysis of PUMA and Nike, Inc. Starbucks Stakeholders: Employees and Customers. How does a corporation prioritize stakeholder claims? Starbucks Coffee Company supports its competitive advantages through the characteristics of its corporate structure. and China, for example, by adapting to local cultural norms. b. Samsung's warned customers that the machines could tip over How can you explain the range of mixed economies in the world? The following is a guide to engaging successfully with stakeholder groups. When expanded it provides a list of search options that will switch the search inputs to match the current selection. What are some amenities companies offer employees that go beyond a legal minimum or c. coffee and tea growers 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 ________. ), religious beliefs Every country has their own preferences; from the food they eat to even the the type of cloth they to wear. AACSB: Application. 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. Sample Answer: In May 2018, Starbucks closed its stores after an incident in which two African a. promising to earn less profit per share Having theoretical approaches to stakeholders highlights c. ethics is the guiding principle for dealing with others AACSB: Application, Difficulty: Easy In a short paragraph, explain how entrepreneurs can still remain ethical while focusing on profit. Stakeholder ethics involves a body of thought which insists that the ethical responsibilities of corporations extend not only to the shareholders but also to the full range of interests that are impacted by corporate activity. Pay Range : $123,600- $193,200/ annually. In many ways, Starbucks is indeed a firm that maintains higher standards concerning the treatment of employees than many other firms in service-related retail industries (for example, fast food restaurant chains and superstores). Answered over 90d ago. Employees are dissatisfied with the trust they receive from management and are seeking "representation" through unions. Urban and suburban communities Solicit, evaluate and apply suggestions for improving efficiency and cost effectiveness. Sample Answer: A company needs to be aware of its stakeholders. a. implementation of values Mellody Hobson, Starbucks Board of Directors chair, joined Kevin Johnson, president and chief executive officer, for opening remarks following today's news that Johnson made the personal decision to retire from . Which commercial transaction in the New World exemplifies the complexity that results when different cultures, experiences, and ethical codes come into contact? 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? All Rights Reserved. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Maybe complaining online or in customer service reviews would be Consumers are demanding more than "product" from their favorite brands. C. It is ineffective because it uses consumer stakeholders to pressure suppliers and make Q: Corporate-level strategy is best described as: a. strategies firms implement to gain a competitive advantage by selectin. His expertise also extends to areas such as leadership, corporate responsibility and business strategy. What is the responsibility of the producer and the consumer? A. industry norms* Make a list of Starbucks' goals. The name, inspired by Moby Dick, evoked the romance of the high seas and the seafaring tradition of the early coffee traders. An analysis of perceived priority of shareholder impact should include which of the following? AACSB: Analytical. Customers still enjoy the product and yet competition is growing. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Difficulty: Difficult C. coffee and tea growers* What is the projected market size and growth rate of the Decaf Coffee Market? Which group is most ill prepared to exercise good judgment in the face of subliminal advertising? What has unfolded at Starbucks is anything but. B. government liaison/lobbying director Participate in and support community . Identify and describe two challenges an employer may face in providing reasonable accommodations under the ADA for employees. Blooms: Analyze (Select all that apply. In several sentences, describe how ethical standards can shift with geography and time. Starbucks baristas are paid above the minimum wage, even at the entry-level position. Sample Answer: Ikea is a multinational furniture store. Download Assets. b. Humongous Bank is required to hold 5% of its existing$20 million as reserves, and to loan out the rest. 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 B. 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. simply advertising. True or false? Which are some types of stakeholder relationships that a local chamber of commerce would have? 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 . 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. (promenades; tarries). premise by lawyers and legal-aid groups. 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. Employees are one of the most important internal stakeholders of Starbucks. which are the universal principles of behavior? (Select all that apply.) "Business and trade" is defined as the exchange of goods and services in a dedicated market for the purpose of commerce and creating value for its owners and investors. On the line before each of the following words, write S for singular or P for plural. \end{array} Which. Which legislation was passed in 2002 that mandates reporting transparency by businesses in areas ranging from finance to accounting to supply chain activities? a. ethics applies solely to business-making Starbucks prioritizes employees in its corporate social responsibility efforts. All stakeholders must be treated the same.