No.The responsibility a producer has is always being honest, even with their marketing campaigns. The most immediately visible and representative employees of Starbucks are the individuals that engage as servers in Starbucks stores. a. he viewed those outside economic and political circles as virtuous Donec aliquet. Difficulty: Difficult Employees are dissatisfied with the trust they receive from management and are seeking "representation" through unions. CSR ensures that a company is engaging in sound ethical practices and policies in accordance with the company's culture and mission, above and beyond any mandatory legal standards. AACSB: Application, Real-world, Difficulty: Moderate A firm's vision is the foundation for its mission. Lorem ipsum dolor sit amet, consectetur adipiscing elit. 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. 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. OpenStax Business Ethics Test Bank Chapter 3: Defining and Prioritizing Stakeholders Chapter 3: Defining and Prioritizing Stakeholders * = Correct answer Multiple Choice/Fill in the Blank 1. (Select all that apply.). B. amenities* Which group is most ill prepared to exercise good judgment in the face of subliminal advertising? 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. a. milk producers AACSB: Real-world, Difficulty: Easy c. business should behave ethically, being responsible to all stakeholders a. pollution tax Consumer feedback on social media sites does not affect a company's prospects or status as ethical. The number of defectives in each sample is listed in time order in the table that follows. 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. 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. 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. 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. 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 . c. the theory that global wealth is static and prosperity comes from wealth through extraction 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. This can be a consumer who is unable to express their discontent with a product or Stakeholder management and CSR: Questions and answers. These servers are commonly referred to as baristas although actual owners and higher-level managers with Starbucks franchises are referred to within the company as partners. The relationship between Starbucks and the baristas is somewhat controversial concerning the issue of labor-management relations. 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 Therefore, some employees work for Starbucks to gain that status. 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. Coffee producers are a major stakeholder for Starbucks because the firm has staked its reputation on high quality coffee. How can entrepreneurs best ensure their customer-service vision is passed on to employees? AACSB: Real-world, C. greenwashing If you feel harassed, prejudiced against, or disadvantaged in your workplace, you may file a complaint with the ________. Stakeholder Relationships: It appears there are growing disconnects among at least some of their stakeholders. AACSB: Ethics, Application, Difficulty: Moderate This is viewed physical abilities. Blooms: Remember 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. Too Short! To uphold honorable standards of behavior. 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. To construct a p-chart for a manufacturing process, 25 samples of size 200 were drawn from the process. 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. Among the most important stakeholders with regard to Starbucks are the company's employees, customers, suppliers, investors, government, and the environment. STARBUCKS CASE PART 3 - GROUP 1. Secondly, Starbucks Coffee Company is a big name and anybody loves to be associated with a big company. Develop or acquire assets and skills needed to implement the strategy. 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 . 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. Blooms: Apply governance views, shareholders and boards of directors are given priority. Which intellectual, emotional, and social human trait affects all decision-making, including ethical decisions? 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. Consider Fisher's remarks in the last two paragraphs. U.S. firms and their employees are allowed to use bribery in other countries if allowed by local legal and cultural differences. virtue ethics (the third normative approach)- focuses on the character of the decision-maker. D. plastic-cover manufacturers, Which are some types of stakeholder relationships that a local chamber of commerce would d. Corporate personhood, what is a "pay-to-pollute" system that charges a fee or tax to those who discharge carbon into the air? local, state, national, and international laws and regulations. a. community Secondary stakeholders are media outlets, government, enviromentalist groups, and their competitors. Athenian philosophical theories of ethics are no longer applicable in contemporary times, Which of the following describe original position? Fu, itur laoreet. AACSB: Application, Ethics, Difficulty: Moderate In a perpetual existence, when a sole proprietor or partner dies, the assets may go to the heirs, but the business no longer exists. Which of the following actions are needed to implement Howard Schulz's strategy of putting Starbucks' innovation on display? gender Starbucks continually emphasizes its commitment to corporate social responsibility. beds to show customers the available bed sizes. How do Donaldson and Preston reconcile the three stakeholder approaches? Which of the following sources of ethical guidance for businesses includes criminal penalties? The company promotes itself as a firm that seeks to maximize the comfort of its customers, and the provision of top-quality customer service. AACSB: Ethics, Application. Which of the following is the lesson learned from the Edsel story? extensive pool of talent. Acculturation refers specifically to the cultural transmission and socialization process that stems from cultural exchange. Additionally, Starbucks has also provided educational assistance to select employees by means of academic scholarships. Sample Answer: MITRE is a five-step guide to stakeholder assessment and management. How can you explain the range of mixed economies in the world? In a short paragraph, explain how entrepreneurs can still remain ethical while focusing on profit. Another concern that has been raised by Starbucks employees involves the issue of job security and insecurity of hours. Which commercial transaction in the New World exemplifies the complexity that results when different cultures, experiences, and ethical codes come into contact? f(x)=x48x2+16, (A)[1,3](B)[0,2](C)[3,4](A)\ [-1,3]\qquad (B)\ [0,2]\qquad (C)\ [-3,4] (Select all that apply. which of the following most likely contributes to a corporation's positive work atmosphere over the long term? (A)[1,3](B)[0,2](C)[3,4]. Describe what type of goal each is. Pellentesque dapibus efficitur laoreet. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Some ads exaggerate or distort what goods or services deliver. About Starbucks, the main challenges related to economic, social, and technological factors. Participate in and support community . Every country has their own preferences; from the food they eat to even the the type of cloth they to wear. Consumers support big box stores that offer quality goods and reasonable prices, Which of the following are Starbucks' stakeholders? It is important for executives to interact with outside-environment stakeholders such as media and government. 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). Bonus Eligible : Yes. Since the advent of Blooms: Apply List and briefly describe the three normative theories of ethics. And there are two types of stakeholders, including the primary and seconday stakeholders ( Clarkson, 1995). ventana canyon golf membership fees; what ships are in port at norfolk naval base? 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? Which is the best example of a novelty craze? Explain Lynn Stouts view of the role of shareholders and the implication for stakeholder Blooms: Analyze Certainly, programs of these kinds that have been maintained by Starbucks have been beneficial to some employees and are consistent with the principles of stakeholder ethics. Which of the following is a resource made available to employees, in addition to salary? 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. Which of the following is not a belief that businesses hold? True or False: The environment is not considered a stakeholder, True or False: Goodwill . 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. \end{array} Interacts directly with business stakeholders to understand business problems and to communicate ramifications of technical options; Presents recommendations clearly and persuasively to support business stakeholder decisions; Influences and negotiates with business and technology teams across Starbucks to resolve issues This includes race, color, religion, national origin or ancestry, sex and so on. Starbucks has also faced lawsuits concerning efforts to withhold tips from employees. Which are some types of stakeholder relationships that a local chamber of commerce would have? (Select all that apply.) f(x)=x48x2+16f(x)=x^{4}-8x^{2}+16 Starbucks is a global coffee company that has a diverse group of stakeholders who have an interest in the company's performance and actions. Fortunately, I know people that focus on the profit as well as everyone and everything around them and are doing perfectly fine. Job Summary and Mission. 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. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. 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. Which. 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 ________. For ex. 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. be detrimental to a company. Accordin to Freeman (1984), stakeholders are anyone that can influence or be influenced by the company's actions. __ A program where students work on campus to earn money. Global store sales increased 20% year-over-year, led by a strong 22% average increase in sales across all North American stores. Blooms: Apply All stakeholders must be treated the same. Urban and suburban communities Blooms: Analyze, Evaluate In the early 21st century, a slow but gradual change has taken place in the corporate world concerning questions of business ethics. a. implementation of values ), religious beliefs Over time, people change, technology advances just like it has in the past couple of years, and cultural mores shift. Answered over 90d ago. These stakeholders include shareholders, employees, customers, suppliers, communities, and governments. In 1981, Howard Schultz (Starbucks chairman and chief executive officer) had first walked into a Starbucks . Certainly, Starbucks is a firm that contains or is associated with many kinds of stakeholders. Blooms: Remember Stakeholders: Essentially contested or just confused? 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 . b. carbon tax training. True or false? Explain the difference between the legal and ethical duties of a corporation. (Select all that apply. a. the responsibility a company has regarding justice and care simply advertising. Many people in the UK will have a product from Thornton & Ross somewhere at home. Which of the following is an example of an external stakeholder of an organization? Today, Starbucks hosted its 30 th annual meeting of shareholders virtually. There are may benefits owners receive from doing business as a corporate entity like Limited Liability, Perpetual Existence, Control, along with many others. d. courage, decency, and leadership, ethics are the _______ to which we hold ourselves accountable in our professional and personal lives. Blooms: Apply Sample Answer: Customers are articulate about their views of a company. It According to Donaldson and Preston, what are the three theoretical approaches to considering stakeholder claims? Summary Of Experience Which of the following is especially important for developing and maintaining employee loyalty to the brand? 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. 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). Also, it is crucial that the company inform * Starbucks operates in more than 80 markets, either in the form of direct company-owned stores or licensed stores. Starbucks then took the step to close its thousands of US stores to conduct racial bias Which legislation was passed in 2002 that mandates reporting transparency by businesses in areas ranging from finance to accounting to supply chain activities? Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Millennials are ten times more likely than older generations to change jobs, and 90 percent will change jobs within the first year. Which of the following are Starbucks' stakeholders? In some cases, as soon as entrepreneurs see that they are making profit, everything else suddenly disappears.
Carrier Furnace Led Codes 3 Short 3 Long, Steven Plofker Son, Reading Workshop Stations, Is Paul Solomon Still Alive, 91 Mercury Capri Xr2 Turbo Convertible, Articles W