A stakeholder is any party, individual, or group interested in an organization's actions and outcomes. B. government liaison/lobbying director Has opportunity to lead a team. Starbucks is opening small cafes half the size of existing cafes. Over time, people change, technology advances just like it has in the past couple of years, and cultural mores shift. b. set of cultural norms social media, they are apt to speak up about their customer experience. 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. Utilitarianism (the first normative approach to)- an ethical action is one whose consequence achieves the greatest good for the greatest number of people. Which of the following entrepreneurs is known for having an easygoing personality? True or false? Therefore, some employees work for Starbucks to gain that status. There are may benefits owners receive from doing business as a corporate entity like Limited Liability, Perpetual Existence, Control, along with many others. Shareholders are certainly an important component of the stakeholders of a corporation (Freeman & Moutchnik, 2013). AACSB: Application, Difficulty: Easy AACSB: Application, Ethics, Difficulty: Moderate 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. he acknowledged that business was important in nurturing and preserving democracy in Athens. Which of the following does an entrepreneur typically need to be willing to do to start a business? Another example is a future stakeholder, whose status will arise during later Starbucks set out on its current course in the 1980s . a. humanity in ethics Blooms: Analyze Capital Punishment and Vigilantism: A Historical Comparison, The Long-term Effects of Environmental Toxicity, Audism: Occurrences within the Deaf Community, The Porter Diamond: A Study of the Silicon Valley, The Studied Microeconomics of Converting Farmland from Conventional to Organic Production. Starbucks Coffee Company supports its competitive advantages through the characteristics of its corporate structure. Stakeholder theory: Reviewing a theory that moves us. D. stakeholder prioritization, Difficulty: Easy Which of the following are Starbucks' stakeholders? In several sentences, describe one ethical issue related to the "access economy". AACSB: Application, Difficulty: Moderate normative, descriptive, and instrumental approaches. a. U.S. jurisprudence In a perpetual existence, when a sole proprietor or partner dies, the assets may go to the heirs, but the business no longer exists. In Richard DeGeorge's humanities model, business ethics would prepare students to do certain specific things. Identify shareholders. Also, it is crucial that the company inform Blooms: Analyze Enculturation and acculturation seem very alike but when paying close attention, the differences start to pop out. people do not need some of the promoted products or services. Cross), Give Me Liberty! that uses billions of liters of water in a community where many people are without water. 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. b. competitors Which of the following sources of ethical guidance for businesses includes criminal penalties? FedEx and UPS, two of the largest shipping companies in the world, have both stopped sending shipments to Russia. AACSB: Reflection, Application, Difficulty: Difficult Blooms: Understand Which is the primary law prohibiting religious discrimination in the private sector workplace? The phrases Starbucks and Coffee were later removed from the cup so that the brand might potentially extend beyond coffee products. Explain an employee's common law duty of loyalty to their employer. The company has many stakeholders the following are considered the main stakeholders, employees, customers, suppliers and investors. Donec aliquet. Stakeholder management and CSR: Questions and answers. The Occupational Safety and Health Administration (OSHA)a business' mission to prevent work-related injuries, illnesses and deaths under the Department of Labor. Today, Starbucks hosted its 30 th annual meeting of shareholders virtually. If Starbucks follows a strategy of competing in more than one business product, which of the following goals could it accomplish? The enhanced training set a standard for other companies that serve the public. Competitors are one of the most significant external stakeholders of Starbucks. operations (CAFO). Which of the following are considered intellectual virtues? coffee and tea growers. It Customers still enjoy the product and yet competition is growing. a hypothetical situation in which rational people can arrive at a contract. Among the most important stakeholders with regard to Starbucks are the companys employees, customers, suppliers, investors, government, and the environment. A. entities and people invested and influential in the success of an organization* Lorem ipsum dolor sit amet, consectetur adipiscing elit. B. Supervising middle and senior management Establish trust. AACSB: Real-world, Difficulty: Moderate 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. An analysis of perceived priority of shareholder impact should include which of the following? Shippers. AACSB: Application, Difficulty: Easy Which is the best example of a recent company crisis caused by poor leadership? It must determine which are Identify and describe two benefits of employee diversity in the workplace. d. Corporate personhood, what is a "pay-to-pollute" system that charges a fee or tax to those who discharge carbon into the air? Many people now a days are very open-minded and whether you like it or not, it is just the reality of todays society. Q: Corporate-level strategy is best described as: a. strategies firms implement to gain a competitive advantage by selectin. a. community Customer relations are also an essential component of the business model that has been developed by Starbucks. 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 (Select all that apply.). Having theoretical approaches to stakeholders highlights The access economy is a business model where goods and services are traded on the basis of access rather than ownership. 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 Nam lacinia pulvinar tortor nec facilisis. C. legal compliance* In some cases, as soon as entrepreneurs see that they are making profit, everything else suddenly disappears. &\text { Defectives }\\ c. Samsung assumed the risk of exposure and picked up the washers An ethical financial advisor must ________. Most business organizations hold three different kinds of beliefs about themselves. Observing the company's liquidity, Starbucks has around $2.6 billion in cash and short-term borrowing facilities of $3.5 billion. 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 . There are dedicated sites 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 c. marketing Which of the following are Starbucks' stakeholders? All stakeholders must be treated the same. B. entities and people with one role at one time to care for a business, What do peers and competitors as normative stakeholders influence? UmweltWirtschaftsForum, 21(1), 59. All Rights Reserved. (Select all that apply.) This button displays the currently selected search type. The most immediately visible and representative employees of Starbucks are the individuals that engage as servers in Starbucks stores. A company's Board of Directors is responsible for guiding CEO succession, which should be a well-planned event. 12 & 14 & 11 & 8 & 7 & 12 & 15 & 9 & 16 & 13 & 11 & 10 & 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. Blooms: Analyze, Evaluate a. customers are not considered high-priority stakeholder the risk of stakeholder displeasure and critique, which could result in bad publicity for a D. rules*, What was the reason for Scarlett Johanssons withdrawal from a recent movie? The following is a guide to engaging successfully with stakeholder groups. Academy of Management Review, 22(4), 853886. Partners with stakeholders and business hiring managers to ensure that the project has the skillsets and resources required for delivery. stakeholders. A. industry norms* results to decision makers in management. d. embraces freedom and a sense of divinity, the advantage of justice theory over other ethical systems is its The crash caused$1,600 in damages to his car. 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. 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. b. the doctrine that a corporation has some of the same legal rights and responsibilities enjoyed by natural persons Employees are dissatisfied with the trust they receive from management and are seeking "representation" through unions. systemic ethics problems. Operations Management questions and answers. OSX Ethics TB Ch03 Defining And Prioritizing Stakeholders, Chapter 3: Defining and Prioritizing Stakeholders, Difficulty: Easy the theory that prosperity depends on extracting wealth or accumulating it from others. Blooms: Apply Blooms: Remember What is a measure that accounts for an organization's results in terms of its effects on profits, planet, and people? They can be found working as baristas, store managers, or regional executives. a. business should behave ethically, focusing only on environmentalism In China, Ikea allows its visitors to take naps on It has had success in the United States Athenian philosophical theories of ethics are no longer applicable in contemporary times, Which of the following describe original position? Answer: False, True or false? The most important function of the board of directors is to hire the president or What is the ethical issue behind issuing disaster insurance? They Describe at least two ethical duties an employer owes to their employees. Consider Fisher's remarks in the last two paragraphs. Today, with over 32,000 stores around the globe, the company is the premier roaster and retailer of specialty coffee in the world. As for ethical duties, they are standards based on human principles of right from wrong. AACSB: Ethics, Application. c. ethics is the guiding principle for dealing with others Blooms: Remember Donec aliquet. 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. The three Starbucks founders had two things in common: they were all coming from academia, and they all loved coffee and tea. (Select all that apply. The firm issued $3 billion in bonds, taking advantage of the. c. is an unattainable goal of perfect virtue Which of the following are Starbucks' key stakeholders? Capitalism, corporations and the social contract: A critique of stakeholder theory. Answer: False, True or false? b. the Dutch and Native American trade 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 . Identify and describe two challenges an employer may face in providing reasonable accommodations under the ADA for employees. Acculturation refers specifically to the cultural transmission and socialization process that stems from cultural exchange. A company must identify and c. utmost conduct with Starbucks in lieu of a civil action against the corporation. Of course companies have the responsibility to market their products with integrity because without them, the business would be no where. Blooms: Apply \text { Cost } & \$ 930 & \text { Years to maturity } 10 & d. her portrayal of the character offended stakeholders, her portrayal of the character offended stakeholders, which of the following best relates to prioritizing stakeholders? c. business should behave ethically, being responsible to all stakeholders The environment is not considered a stakeholder. a. the "purchase" of Manhattan uproar. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Which group is most ill prepared to exercise good judgment in the face of subliminal advertising? 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. 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. Difficulty: Moderate Answer: False. Which of the following are steps in the MITRE stakeholder process? Explain how the "triple bottom line" goes beyond the traditional goal of shareholder profit. c. her portrayal of the character offended shareholders Coffee and tea growers are Starbucks ' main stakeholders who supply the needed raw materials. The people in this economy have $20 million in money, and they deposit all their money in Humongous Bank. Henry Ford must operate Ford Motor Company primarily to maximize profit for its shareholders. d. he thought money should only be allowed for those in trades. Starbucks operates in more than 80 markets, either in the form of direct company-owned stores or licensed stores. The coffeehouse company must strengthen its competitive advantages accordingly. Draw a T-account for the bank after this first round of loans has been made. B. local and regional governments* In three to four sentences, describe the difference between legal compliance and social responsibility. 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. Journal of Management, 34(6), 11521189. Car design should focus on being competitive on the road. March 16, 2022 4 min read. 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. influence suppliers working conditions. Starbucks is a global coffee company that has a diverse group of stakeholders who have an interest in the company's performance and actions. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. D. pet owners, Which of the following are the duties of the board of directors? Blooms: Apply 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. than as a means to achieve better financial results. 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. Employees are one of the most important internal stakeholders of Starbucks. c. customers are considered high-priority stakeholders Applicants must submit a complete application to receive an interview. This includes race, color, religion, national origin or ancestry, sex and so on. (b) Analyze: Why do you think Juliet trusts the Friar? c. media For ex. Which of the following are Starbucks' stakeholders? This file is copyright 2019, Rice University. He has the following security-related information: Parvalue$1,000Couponinterestrate6%Taxbracket20%Cost$930Yearstomaturity10\begin{array}{llll} The traditional approach to business ethics that has been championed by many corporate leaders echoes the sentiments of the late Nobel Laureate economist Milton Friedman, who famously stated that corporations ultimately have no ethic responsibilities other than to increase the value of the corporation for shareholders. 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. c. a business owner's protection against loss of personal assets Consumer feedback on social media sites does not affect a company's prospects or status as ethical. Blooms: Remember Sample Answer: Customers are articulate about their views of a company. c. methodology for arriving at the truth AACSB: Application, Difficulty: Easy A firm's vision is the foundation for its mission. Find the absolute maximum and minimum, if either exists, for each function on the indicated intervals. Financial Analysis of PUMA and Nike, Inc. Starbucks Stakeholders: Employees and Customers. long-term dialogue to inform the companys decision making and as a core component of its Difficulty: Difficult It is important to focus on employees and customers when considering the ways in which Starbucks is impacted by the principles of stakeholder ethics. Once data are validated, managers present the Employees and customers are the two most visible manifestations of the activities of Starbucks and certainly the most visible stakeholders (Mansell, 2013). Blooms: Remember (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? d. mercantilism, which of the following definitions best describe moral agency? 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? Pellentesque dapibus efficitur laoreet. All stakeholders must be treated the same. Donec aliquet. d. cap and trade tax, a " moral minimum" means which of the following? At times, Starbucks has become embroiled in a range of political and social controversies as well (Freeman & Moutchnik, 2013). Business ethics exists on which of the following three levels? Answer: False. Summary Of Experience stresses that a company must sustain trust with stakeholders. AACSB: Application, Analytical, Difficulty: Moderate 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 an example of an external stakeholder of an organization? According to the I/O Model of Above-Average Returns, which of the following steps should Starbucks complete immediately before implementing a strategy? This is viewed (Select all that apply.) Which of the following definitions best describes mercantilism? AACSB: Reflection, Difficulty: Difficult a. implementation of values Thus, Ikea changed in response to consumer welfare for two reasons: It is good for business and the right thing to do. As Starbucks, we can either choose to rise to this moment or stand idle. (1997). Many baristas have eventually become managers and worked their way up into higher positions within management (Mitchell, Agle, & Wood, 1997). urban and suburban communities After AACSB: Analytical. Answered over 90d ago. . which are the universal principles of behavior? 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. Their concerns are identified through data gathering and analysis, a. promising to earn less profit per share * Starbucks prioritizes employees in its corporate social responsibility efforts. Provide at least two examples of how employees' expectations of work have changed in modern business. The entitlement of the environment to legal status is a long-argued 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. CSR and greenwashing are the same concepts. How can you explain the range of mixed economies in the world? Difficulty: Difficult a. How do Donaldson and Preston reconcile the three stakeholder approaches? such as media and government. * 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. (A)[1,3](B)[0,2](C)[3,4]. including surveys or social media, for example. C. coffee and tea growers* Blooms: Apply The number of defectives in each sample is listed in time order in the table that follows. Do you think she believes the brain chemistry of romantic love and the response to rejection is rational or irrational? Lorem ipsum dolor sit amet, consectetur adipiscing elit. This is a lofty goal, especially given Coke products are I think of it like renting things temporarily rather than selling them permanently. a. her portrayal of the character was insincere Which of the following is NOT a characteristic of a strategic leader and stakeholder such as Howard Schultz? b. 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? gender (Select all that apply. B. shareholders It also changed its policy of allowing noncustomers to visit its stores and use restrooms. B. marketing* On the line before each of the following words, write S for singular or P for plural. being committed to ethical business practices. The main difference between a bribe and a gift is intent. We will send [DOCUMENT_TITLE] to your email. How will Starbucks determine if smaller express stores reduce client wait times after implementing its strategy? About Starbucks Since 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting high-quality arabica coffee. C. remuneration Environmentalists raise the issue of species and Describe what type of goal each is. the cost of stakeholders. Blooms: Application There is a growing recognition of the need for corporate accountability. The principles of stakeholder ethics overlap with the parallel principles of corporate social responsibility. The triple bottom line focuses on three things: profit, people, and planet. It is ineffective because it only requires disclosure of information about suppliers' working conditions and does not govern those suppliers. inauthentic in carrying out corporate social responsibility when the company already has In the case of Dodge v. Ford Motor Company, the Michigan Supreme Court ruled in favor of shareholder primacy. \end{array} b. ethics is about what someone does focused on stakeholders, and perhaps instead concentrated on consumers or shareholders, could It is in a business's best interest to promote human flourishing within the organization by providing ________. For that law, companies are. Answer: True, True or false? Which of the following does Starbucks consider to be a strong asset that helps it build its revenue gains? A) Employees B) Customers C) Shareholders D) Economy 4 Consolidated net revenues increased 24% to $29.1 billion for the. What are some amenities companies offer employees that go beyond a legal minimum or Since the advent of Summarize the ethical debate of whether corporations owe a duty to society or only to their owners. To construct a p-chart for a manufacturing process, 25 samples of size 200 were drawn from the process. stakeholder needs. Fu, itur laoreet. via the notion of what constitutes necessity as opposed to luxury. Farmers supply the coffee grains and tea that are necessary for production. Explain how Ikea has had to adapt its business model in different countries. P3-1. Cambridge: Cambridge University Press. Also, a bribery is very unethical and can look bad for the business. Toward a theory of stakeholder identification and salience: Defining the principle of who and what really counts. c. the theory that global wealth is static and prosperity comes from wealth through extraction Sample Answer: A company needs to be aware of its stakeholders. From just a narrow storefront, Starbucks offered some of the world's finest fresh-roasted whole bean coffees. Sample Answer: Ikea is a multinational furniture store. virtue ethics (the third normative approach)- focuses on the character of the decision-maker. For the purpose of this assignment, you will follow the steps in creating the initial portion of a stakeholder engagement strategy. Those men later settled Which commercial transaction in the New World exemplifies the complexity that results when different cultures, experiences, and ethical codes come into contact? (Select all that apply.) Global store sales increased 20% year-over-year, led by a strong 22% average increase in sales across all North American stores.