It is also competing with companies like Peet's Coffee & Tea Company, which have more exclusive products. His expertise also extends to areas such as leadership, corporate responsibility and business strategy. 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. 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 ________. b. courage, honor, and loyalty only applies to shareholders, and it is the amount of money a shareholder could make after selling a holding in a company, True or False: the prevailing current business philosophy is that the sole purpose of business is to make money for shareholders, True or False: customer feedback on social media sites does not affect a company's prospects or status as ethical, True or False: for utilitarianism, the intent of the actors and how humanely people are treated are treated are the determining factor, True or False: individuals, in are the most basic ethical unit, True or False: virtue emphasizes the formation of character, True or False: laws and regulations set the maximum standards by which society lives out ethical norms, morality, as considered by Kant Stakeholder theory: Reviewing a theory that moves us. AACSB: Analytical. Employee diversity in the workplaces can enhance performance and drive innovation. c. Samsung assumed the risk of exposure and picked up the washers The Starbucks franchises in New Zealand have also been accused of underpaying their younger workers. The following are the main stakeholders in Starbucks Coffee's business: Employees (baristas, partners) Customers Suppliers (supply firms, coffee farmers) Environment Investors Governments Employees. Blooms: Application And there are two types of stakeholders, including the primary and seconday stakeholders ( Clarkson, 1995). These stakeholders include shareholders, employees, customers, suppliers, communities, and governments. good for business and the right thing to do from an ethical standpoint. What was the decision? ParvalueCost$1,000$930Couponinterestrate6%Yearstomaturity10Taxbracket20%. Kroger take into account their suppliers, which include farmers. A. 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. including surveys or social media, for example. Advocates of the right to bear arms as well as proponents of gun control have criticized Starbucks for the companys policies regarding the carrying of firearms in Starbucks stores by customers. Operations Management questions and answers. This However, Starbucks has also encountered certain difficulties in the area of customer relations that have tarnished the firms reputation as being one that is fully committed to the principles of stakeholder ethics. b. corporations need to maintain initial priority of stakeholders 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. In the United States, Ikea displays d. embraces freedom and a sense of divinity, the advantage of justice theory over other ethical systems is its Blooms: Understand 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 How does a corporation prioritize stakeholder claims? Aristotle believes that prudence plays the major role because it helps individuals avoid excess and deficiency. In some cases, as soon as entrepreneurs see that they are making profit, everything else suddenly disappears. The emphasis was on Today, Starbucks hosted its 30 th annual meeting of shareholders virtually. Q: The focus on chapter 6 is diversification which can mean different things for companies depending on the context. this is an example of.. 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.) 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. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Deontology is often regarded as a "here and now" philosophy. d. Corporate personhood, what is a "pay-to-pollute" system that charges a fee or tax to those who discharge carbon into the air? c. customers are considered high-priority stakeholders In a perpetual existence, when a sole proprietor or partner dies, the assets may go to the heirs, but the business no longer exists. Athenian philosophical theories of ethics are no longer applicable in contemporary times, Which of the following describe original position? Speaking at the annual shareholders meeting in . How much will money supply increase with that original loan of $19 million? AACSB: Ethics, Difficulty: Easy 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 Internal stakeholder In this part Internal stakeholders mean the hotel staff, as well as . f(x)=x48x2+16f(x)=x^{4}-8x^{2}+16 deontology (the second approach)- to examine the means, or actions, we use to carry out a business decision and suggests that it is the means that lend nobility to the ends. 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. To uphold honorable standards of behavior. Explain how owners benefit from doing business as a corporate entity. 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? In China, Ikea allows its visitors to take naps on What are some examples of how companies take into account the welfare of stakeholders? b. 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. D. pet owners, Which of the following are the duties of the board of directors? Blooms: Apply The main difference between a bribe and a gift is intent. Which is the primary law prohibiting religious discrimination in the private sector workplace? Consider Fisher's remarks in the last two paragraphs. d. cap and trade tax, a " moral minimum" means which of the following? Starbucks Stakeholder Analysis. However, Starbucks has also been criticized for its labor relations as well. b. carbon tax Enculturation and acculturation seem very alike but when paying close attention, the differences start to pop out. Answer: False. For example, some Starbucks employees have joined labor unions and become involved with lawsuits against the firm over such issues as back pay, withheld wages, wrongful termination, and union-busting activities that included retaliation against employees that were involved in union-related activities (Phillips, 2003). 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. Draw a T-account for the bank after this first round of loans has been made. d. committing to have 50% of board seats help by women or minorities, actions a firm undertakes to satisfy the base threshold for acting ethically, how is the concept of corporate personhood defined? (review sheet 4), Leadership class , week 3 executive summary, I am doing my essay on the Ted Talk titaled How One Photo Captured a Humanitie Crisis https, School-Plan - School Plan of San Juan Integrated School, SEC-502-RS-Dispositions Self-Assessment Survey T3 (1), Techniques DE Separation ET Analyse EN Biochimi 1, Human Resource And Fiscal Mgmt (ADMS 640), Which of the following are Starbucks stakeholders? As for ethical duties, they are standards based on human principles of right from wrong. Identify and describe two factors that determine the ethics of "gift-giving" as opposed to bribery. a. consumerism Starbucks set out on its current course in the 1980s . Describe Kant's "Deontology" view of ethics. 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. In 1981, Howard Schultz (Starbucks chairman and chief executive officer) had first walked into a Starbucks . For that law, companies are. (Select all that apply.) Donec aliquet. Today, it is a global roaster and retailer of coffee with more than 24,000 stores, 40% of which are in some 70 countries worldwide. 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. 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? new CEO with a tourism background. Has opportunity to lead a team. Another example is a future stakeholder, whose status will arise during later Blooms: Apply Journal of Management, 34(6), 11521189. CSR and greenwashing are the same concepts. A company must identify and Solicit, evaluate and apply suggestions for improving efficiency and cost effectiveness. * Thirty years ago, Starbucks was a single store in Seattle's Pike Place Market selling premium-roasted coffee. He has the following security-related information: Parvalue$1,000Couponinterestrate6%Taxbracket20%Cost$930Yearstomaturity10\begin{array}{llll} How can you explain the range of mixed economies in the world? ), religious beliefs 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. which are the universal principles of behavior? b. the Dutch and Native American trade 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? Answered over 90d ago. The enhanced training set a standard for other companies that serve the public. Participate in and support community . 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. AACSB: Real-world, C. greenwashing Which is the best example of a novelty craze? 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Explain an employee's common law duty of loyalty to their employer. 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. Journal of Business Ethics, 108(3), 285298. AACSB: Application, Real-world. Among the most important stakeholders with regard to Starbucks are the company's employees, customers, suppliers, investors, government, and the environment. Often there is a hierarchy that places consumers or customers first. Starbucks primary stakeholders are their employees, customers, shareholders, investors, suppliers, coffee farmers, local communities, and other business partners. (Select all that apply.) Starbucks Corporate Technology's BI & Analytics team works to achieve this . Blooms: Apply The environment is not considered a stakeholder. 12 & 14 & 11 & 8 & 7 & 12 & 15 & 9 & 16 & 13 & 11 & 10 & The triple bottom line focuses on three things: profit, people, and planet. Those men later settled b. competitors and avoiding bias. Which of the following describes the efficacy of legislation like the California Transparency in Supply Chains Act? Which of the following are Starbucks' stakeholders? Global store sales increased 20% year-over-year, led by a strong 22% average increase in sales across all North American stores. We are, therefore, A decision to be less such as media and government. * a. the "purchase" of Manhattan Customer relations are also an essential component of the business model that has been developed by Starbucks. local, state, national, and international laws and regulations. long-term dialogue to inform the companys decision making and as a core component of its A firm's vision is the foundation for its mission. The airline is now focused on promoting Muslim Explain how Ikea has had to adapt its business model in different countries. \end{array} a hypothetical situation in which rational people can arrive at a contract. Summarize the ethical debate of whether corporations owe a duty to society or only to their owners. What is a "pay-to-pollute" system that charges a fee or tax to those who discharge carbon into the air? A. 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. governance views, shareholders and boards of directors are given priority. In the end, it means being responsible to our stakeholders. Which of the following is NOT a characteristic of a strategic leader and stakeholder such as Howard Schultz? 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. 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 . It is important for executives to interact with outside-environment stakeholders 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? discrepancy is stark. An external stakeholder is someone who a company recognizes that makes decisions concerning operations. b. standards of behavior Q: Corporate-level strategy is best described as: a. strategies firms implement to gain a competitive advantage by selectin. Supply Chains Act also implicates the welfare of stakeholders. which of the following is the best description for what it means to be a professional of integrity? d. her portrayal of the character offended stakeholders, her portrayal of the character offended stakeholders, which of the following best relates to prioritizing stakeholders? Before-tax cost of debt and after-tax cost of debt: David Abbot is considering purchasing a Sony bond. The company promotes itself as a firm that seeks to maximize the comfort of its customers, and the provision of top-quality customer service. Coffee producers are a major stakeholder for Starbucks because the firm has staked its reputation on high quality coffee. This button displays the currently selected search type. Which insurance covers the damage to the fire hydrant? Starbucks prioritizes employees in its corporate social responsibility efforts. AACSB: Ethics, Difficulty: Easy Also, it is crucial that the company inform Which of the following entrepreneurs is known for having an easygoing personality? c. Compute and plot the A, B, and C zone boundaries on the p-chart. c. actions a firm undertakes to satisfy the base threshold for acting ethically c. coffee and tea growers D. Present information to the board of directors. most important, given its provision of goods and services. Toward a theory of stakeholder identification and salience: Defining the principle of who and what really counts. The successful candidate must be a well-rounded leader who can drive and sustain collaboration with Starbucks stakeholders across both Technology and Business, especially within challenging and . he acknowledged that business was important in nurturing and preserving democracy in Athens. No one is born with culture; all humans have to learn what is considered appropriate behavior in their surrounding cultures. 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? Draw a T-account for the bank. Sample Answer: In May 2018, Starbucks closed its stores after an incident in which two African It The two complaints most frequently filed with the Equal Employment Opportunity Commission, which strives to eliminate racial, gender, and religious discrimination in the workplace, are sexual harassment and racial harassment. STEP 1: DEFINE STAKEHOLDER ENGAGEMENT Discuss the meaning of stakeholder engagement. Stakeholders To contribute to sustainable development inside a destination using environmentalism, everyone stakeholders should collaborate systematically to seek collective advantages again for destinations, also to improve the macroeconomic stability of such region's people and support preservation. The name, inspired by Moby Dick, evoked the romance of the high seas and the seafaring tradition of the early coffee traders. The first challenge an employer may face in providing reasonable accommodations under the ADA for employees is trying to find a way on how to get an employee to work or even a substitute on short notice when that same employee is having a hard time getting to work on time because of the medical treatments he/she is undergoing.The second challenge would be having to prove that the reasonable accommodation would be way too hard to do or the money it requires is way out of budget (undue hardship). Starbucks operates in more than 80 markets, either in the form of direct company-owned stores or licensed stores. How is Starbucks diversifying in India to fit into the local culture? What constitutes a reasonable profit may be unfair. Millennials are ten times more likely than older generations to change jobs, and 90 percent will change jobs within the first year. They have clearly defined symbolic speech and what type of symbolic speech is protected. Capitalism, corporations and the social contract: A critique of stakeholder theory. 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. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. 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. operations (CAFO). e. They have not directly addressed the matter of symbolic speech. Felix Madison has $10,000 worth of property damage insurance and a$1,000 deductible collision insurance policy. A. wages 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. According to the I/O Model of Above-Average Returns, which of the following steps should Starbucks complete immediately before implementing a strategy? such as Yelp where customers share their good and bad experiences. AACSB: Ethics, Application. C. Stakeholder perceptions have a large impact on success. Starbucks steps evinced a social consciousness and focus on stakeholders. The California Transparency in Sample Answer: A company needs to be aware of its stakeholders. 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? Do companies have the responsibility to market their products with integrity?