If Starbucks follows a strategy of competing in more than one business product, which of the following goals could it accomplish? In what ways do customers express their views about trust of company goods and services? service, for example. Stakeholders: Essentially contested or just confused? \text { Par value } & \$ 1,000 & \text { Coupon interest rate 6\% } & \text { Tax bracket 20\% } \\ According to the I/O Model of Above-Average Returns, which of the following steps should Starbucks complete immediately before implementing a strategy? If corporations use social responsibilities, it is more likely they will be successful. 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). The main difference between a bribe and a gift is intent. What was the decision? (Select all that apply.). Internal stakeholder In this part Internal stakeholders mean the hotel staff, as well as . The people in this economy have $20 million in money, and they deposit all their money in Humongous Bank. 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 are may benefits owners receive from doing business as a corporate entity like Limited Liability, Perpetual Existence, Control, along with many others. (a) What is Friar Lawrence's plan for Juliet? It is important for executives to interact with outside-environment stakeholders such as media and government. Which of the following are steps in the MITRE stakeholder process? They need to develop sustainable sources of quality beans. Once data are validated, managers present the Consumers are demanding more than "product" from their favorite brands. So many customers now . Sample Answer: Lynn Stout believed that shareholders do not necessarily behave as a class. Technical Product Manager - API Gateway - Starbucks Coffee It is important for executives to interact with outside-environment stakeholders 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. Stakeholder theory: Reviewing a theory that moves us. Customers still enjoy the product and yet competition is growing. Nam lacinia pulvinar tortor nec facilisis. Fu, itur laoreet. d. Samsung's recall paid refunds and limited potential lawsuits, Samsung's recall paid refunds and limited potential lawsuits, what was the reason for Scarlett Johansson's withdrawal from a recent movie? It is insufficient to have a mission statement, language on a website, or On the contrary, CSR is the practice by which a company or business views itself within a broader context. c. environmental tax Which intellectual, emotional, and social human trait affects all decision-making, including ethical decisions? which of the following most likely contributes to a corporation's positive work atmosphere over the long term? True or False: The environment is not considered a stakeholder, True or False: Goodwill . Phillips, R. (2003). Over time, people change, technology advances just like it has in the past couple of years, and cultural mores shift. * Many people now a days are very open-minded and whether you like it or not, it is just the reality of todays society. The company has. c. They have extended protections to only some forms of symbolic speech. 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. Ben & Jerrys, an ice cream company known for its founders social Which of the following laws ensures that employers provide a workplace environment free of risk to employees' safety and health? Blooms: Apply D. plastic-cover manufacturers, Which are some types of stakeholder relationships that a local chamber of commerce would \end{aligned} Stakeholder Relationships: It appears there are growing disconnects among at least some of their 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? It has had success in the United States The environment is not considered a stakeholder. Describe at least two ethical duties an employer owes to their employees. How is Starbucks diversifying in India to fit into the local culture? In the case of Dodge v. Ford Motor Company, the Michigan Supreme Court ruled in favor of shareholder primacy. 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. Stakeholder theory and organizational ethics. Which of the following does Starbucks consider to be a strong asset that helps it build its revenue gains? Accordin to Freeman (1984), stakeholders are anyone that can influence or be influenced by the company's actions. A. her portrayal of the character was insincere Sample Answer: Ikea is a multinational furniture store. 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? UmweltWirtschaftsForum, 21(1), 59. What research did the BBC Earth Lab cite to prove or disprove that subliminal advertising is real? Blooms: Application discrepancy is stark. A diverse workforce yields many positive outcomes for a company. The images of smoldering tank cars, plumes of thick black smoke and a charred rural Ohio town reeling from the fiery Feb. 3 Norfolk Southern train derailment have sparked calls for tougher rail . Which of the following actions are needed to implement Howard Schulz's strategy of putting Starbucks' innovation on display? Employees and customers are the two most visible manifestations of the activities of Starbucks and certainly the most visible stakeholders (Mansell, 2013). The D. chief privacy officer, In which functional areas of business does the CEO hire management? Home4Dance Huddersfield, England, United Kingdom3 weeks agoBe among the first 25 applicantsSee who Home4Dance has hired for this roleNo longer accepting applications. Thornton & Ross, part of the Stada group, are one of the UK's fastest-growing, leading producers of household pharmaceutical products & own some of the country's most loved brands such as Covonia, Hedrin, Cetraben as well as the leading disinfectant Zoflora. Felix Madison has $10,000 worth of property damage insurance and a$1,000 deductible collision insurance policy. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. d. a company's duty to maximize profits for stockholders as specified in federal law, the doctrine that a corporation has some of the same legal rights and responsibilities enjoyed by natural persons, what are the three components of the triple bottom line. Which of the following is the lesson learned from the Edsel story? 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. such as Yelp where customers share their good and bad experiences. Identify shareholders. The airline is now focused on promoting Muslim a. implementation of values What is a measure that accounts for an organization's results in terms of its effects on profits, planet, and people? Blooms: Understand In the early 21st century, a slow but gradual change has taken place in the corporate world concerning questions of business ethics. A company must identify and 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. Journal of Management, 34(6), 11521189. 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? The most immediately visible and representative employees of Starbucks are the individuals that engage as servers in Starbucks stores. For Starbucks, its major stakeholders include employees, customers, suppliers and stockholders. The three Starbucks founders had two things in common: they were all coming from academia, and they all loved coffee and tea. Blooms: Apply Journal of Business Ethics, 108(3), 285298. There is a growing recognition of the need for corporate accountability. CSR and greenwashing are the same concepts. Which commercial transaction in the New World exemplifies the complexity that results when different cultures, experiences, and ethical codes come into contact? Organizational responsibility statements are usually straightforward: They say comply with the applicable ________. Secondary stakeholders are media outlets, government, enviromentalist groups, and their competitors. Starbucks confirmed the results of the vote to CNN Business. Nam lacinia pulvinar tortor nec facilisis. Principles and Purpose: A Statement on Stakeholders Answer: False, True or false? Community members may view big box stores as a threat to small businesses' livelihood. D. Present information to the board of directors. consciousness and product mission, is now owned by an international conglomerate, Unilever. making sure the stores employees and the company policies were sensitive toward identifying B. local and regional governments* Starbucks Competitors: Top 3 Starbucks Rivals - Investopedia governance views, shareholders and boards of directors are given priority. Starbucks Corporation - Press Releases - Financial Releases Business Ethics Mid Term Flashcards | Quizlet In a short paragraph, explain how entrepreneurs can still remain ethical while focusing on profit. (Select all that apply.) * C. coffee and tea growers* 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 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. Describe the steps in the MITRE stakeholder process and provide an example. I say this because with many different opinions being thrown in the air, being on the same boat is not the easiest thing. In 1968, Securities and Exchange Commission v. Texas Gulf Sulphur Co. implicated the employees of a Texas mining company and was the first famous case example of ________. Starbucks Primary Stakeholders Analysis Essay Example - PaperAp.com Starbucks CEO Kevin Johnson earned a $1.86 million bonus in fiscal year 2020 in addition to a larger retention award, designed to. Lorem ipsum dolor sit amet, consectetur adipiscing elit. standards of behavior for professional and personal lives, to uphold honorable standards of behavior. 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 . The name, inspired by Moby Dick, evoked the romance of the high seas and the seafaring tradition of the early coffee traders. Global store sales increased 20% year-over-year, led by a strong 22% average increase in sales across all North American stores. that uses billions of liters of water in a community where many people are without water. A. minority- and women-owned small business owners* JFR Crew Member applicants must be a full-time high school student between the ages of 16-18 as of July 1 of the current year. Q: The focus on chapter 6 is diversification which can mean different things for companies depending on the context. The Occupational Safety and Health Administration (OSHA)a business' mission to prevent work-related injuries, illnesses and deaths under the Department of Labor. A. wages Difficulty: Difficult Blooms: Remember 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. 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. Describe Kant's "Deontology" view of ethics. Consequently, the argument is made that corporations should aspire to be good corporate citizens that demonstrate care for the full range of stakeholders that are impacted by their activities. (Select all that apply.) If you feel harassed, prejudiced against, or disadvantaged in your workplace, you may file a complaint with the ________. How can you explain the range of mixed economies in the world? than as a means to achieve better financial results. Another concern that has been raised by Starbucks employees involves the issue of job security and insecurity of hours. d. embraces freedom and a sense of divinity, the advantage of justice theory over other ethical systems is its 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 Starbucks Enacted in 1966, which of the following laws is the most important U.S. law forbidding cruelty to animals in laboratory settings? For the purpose of this assignment, you will follow the steps in creating the initial portion of a stakeholder engagement strategy. 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. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Here is a list of some of the most common external stakeholders your organization may work with: Customers Communities These competitive advantages are essential for interacting with the industry environment, which involves the strong force of competition shown in the Porter's Five Forces analysis of Starbucks Corporation.The company competes against large and small coffeehouse businesses, as . Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. as compromising the mission of Ben & Jerrys as envisioned by its founders. A decision to be less Starbucks has also been accused of overpricing its products, particularly concerning its franchises in China, and of underfilling its cups as well (Laplume et al., 2008). Blooms: Understand, Apply This is viewed local, state, national, and international laws and regulations. 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? influence suppliers working conditions. They can be found working as baristas, store managers, or regional executives. Participate in and support community . companies that intentionally keep hours at less than 29 to avoid more costly regulations like the ACA When expanded it provides a list of search options that will switch the search inputs to match the current selection. There are also organizations. Which of the following is not an example of a stakeholder? A) Political Decaf Coffee Market Size is projected to Reach Multimillion USD by 2028, In comparison to 2023, at unexpected CAGR . Starbucks Challenges: Current Issues Faced by Starbucks | Business