Consumers support big box stores that offer quality goods and reasonable prices, Which of the following are Starbucks' stakeholders? people do not need some of the promoted products or services. Difficulty: Difficult Thus, Ikea changed in response to consumer Fortunately, I know people that focus on the profit as well as everyone and everything around them and are doing perfectly fine. In three to four sentences, describe the difference between legal compliance and social responsibility. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. B. government liaison/lobbying director On one hand, Starbucks is frequently praised as a company that is committed to corporate social responsibility and stakeholder ethics when it comes to labor relations (Miles, 2012). Also, Starbucks faced the challenge of technology. Sample Answer: Ikea is a multinational furniture store. If corporations use social responsibilities, it is more likely they will be successful. Donec aliquet. 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. Participate in and support community . What is a measure that accounts for an organization's results in terms of its effects on profits, planet, and people? Community members may view big box stores as a threat to small businesses' livelihood. a. courage, decorum, and accountability 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? b. carbon tax Ethical standards do not remain the same; they convert in response to evolving situations. Difficulty: Difficult 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. 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. c. They have extended protections to only some forms of symbolic speech. Draw a T-account for the bank. 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? The Q: Corporate-level strategy is best described as: a. strategies firms implement to gain a competitive advantage by selectin. 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. Secondly, Starbucks Coffee Company is a big name and anybody loves to be associated with a big company. Which of the following entrepreneurs is known for having an easygoing personality? Nam lacinia pulvinar tortor nec facilisis. c. a business owner's protection against loss of personal assets B. occurs during the monthly vulnerability scanning. In several sentences, describe one ethical draw-back of job-sharing. 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. Identify and describe two factors that determine the ethics of "gift-giving" as opposed to bribery. Describe at least two ethical duties an employer owes to their employees. (b) Analyze: Why do you think Juliet trusts the Friar? Which of the following are steps in the MITRE stakeholder process? local, state, national, and international laws and regulations. Felix Madison has $10,000 worth of property damage insurance and a$1,000 deductible collision insurance policy. And there are two types of stakeholders, including the primary and seconday stakeholders ( Clarkson, 1995). Sample Answer: Greenwashing is the view that companies are acting superficially or are The triple bottom line focuses on three things: profit, people, and planet. d. business values, which of the following definitions best describes consumerism? 12 & 14 & 11 & 8 & 7 & 12 & 15 & 9 & 16 & 13 & 11 & 10 & Starbucks prioritizes employees in its corporate social responsibility efforts. Starbucks was founded by Jerry Baldwin, Gordon Bowker, and Zev Siegl, opening its first store in 1971 near the historic Pike Place Market in Seattle. Explain using details from the text. C. Defining a companys ongoing mission* Which of the following is changing the environment in which many of the world's industries compete? A. milk producers* B. urban and suburban communities* C. coffee and tea growers* D. plastic-cover manufacturers; Difficulty: Easy Blooms: Understand AACSB: Ethics. About Path Since its foundation in 1984, PATH (People Assisting The Homeless) has pioneered bold and effective approaches to assist people experiencing homelessness. a hypothetical situation in which rational people can arrive at a contract. safeguard properties lawsuit 2017; syl johnson chad ochocinco father Blooms: Understand c. marketing systemic ethics problems. generations, such as the case with pollution. reidentify stakeholders. (Select all that apply. 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. Quality Glossary Definition: Stakeholder. In some To uphold honorable standards of behavior. * For ex. Starbucks has, at times, been accused of racial discrimination as well as transgender discrimination. (Select all that apply.) Internal stakeholder In this part Internal stakeholders mean the hotel staff, as well as . This is a lofty goal, especially given Coke products are Explain an employee's common law duty of loyalty to their employer. Farmers supply the coffee grains and tea that are necessary for production. Which of the following is especially important for developing and maintaining employee loyalty to the brand? &\text { Defectives }\\ 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. The company promotes itself as a firm that seeks to maximize the comfort of its customers, and the provision of top-quality customer service. Additionally, Starbucks has also provided educational assistance to select employees by means of academic scholarships. B. her portrayal of the character was not approved 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. There is a growing recognition of the need for corporate accountability. Blooms: Apply C. environmental agencies Donec aliquet. AACSB: Reflection, Difficulty: Difficult b. the doctrine that a corporation has some of the same legal rights and responsibilities enjoyed by natural persons 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. 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. a. consumerism Journal of Management, 34(6), 11521189. b. corporations need to maintain initial priority of stakeholders b. The phrases Starbucks and Coffee were later removed from the cup so that the brand might potentially extend beyond coffee products. service, for example. Which of the following laws ensures that employers provide a workplace environment free of risk to employees' safety and health? Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. d. embraces freedom and a sense of divinity, the advantage of justice theory over other ethical systems is its Freeman, R. E. & Moutchnik, A. Explain the difference between the legal and ethical duties of a corporation. There are dedicated sites stresses that a company must sustain trust with stakeholders. D. stakeholder prioritization, Difficulty: Easy To achieve a greater degree of diversity in the workplace, managers' goals should encompass which of the following? 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. Once data are validated, managers present the Why does a Kantian view typically not govern most management decisions? Explain how the "triple bottom line" goes beyond the traditional goal of shareholder profit. A. 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 D. It is effective because it expects NGOs, state governments, and political action committees to It is important to focus on employees and customers when considering the ways in which Starbucks is impacted by the principles of stakeholder ethics. Explain Lynn Stouts view of the role of shareholders and the implication for stakeholder Applying the big box store example from the chapter, which conflicts demonstrate that stakeholder claims vary? Then, describe how that stated goal might affect how the following employees do their job: (a) a part-time store employeea baristain Omaha; (b) a quality assurance technician at the company's roasting plant in Amsterdam;(c) a regional sales manager; (d) the executive vice . 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. b. Sarbanes-Oxley \text { Cost } & \$ 930 & \text { Years to maturity } 10 & uproar. This file is copyright 2019, Rice University. ), Local governments are seeking to institute tax advantages to attract business competition. b. applying U.S. law regarding child labor globally Which of the following best describes information that has economic value because it is not generally known to the public and is kept secret by reasonable means? 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. (Select all that apply. the cost of stakeholders. Which of the following statements does not depict deontology? 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It is insufficient to have a mission statement, language on a website, or d. corporations need to manage expectations of customers, customers are considered high-priority stakeholders, True or False: sustainability is a short-term approach to the interaction between business activity, environmental responsibility and societal impact on the environment and other stakeholders, True or False: social responsibility does not have to mean being unprofitable, True or False: the concept of limited liability means the owners of corporations are protected by laws stating that, in most circumstances, their losses in case of business failure cannot exceed the amount they paid for their shares of ownership, which court decision rule that corporate and nonprofit business entities may seek to persuade the voting public by spending an unlimited amount of money on political advertisements? AACSB: Application, Real-world. Accordin to Freeman (1984), stakeholders are anyone that can influence or be influenced by the company's actions. C. her portrayal of the character offended shareholders B. C. coffee and tea growers* 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? ), how to distribute resources fairly and evenly Answer: False, True or false? d. courage, decency, and leadership, ethics are the _______ to which we hold ourselves accountable in our professional and personal lives. Starbucks is an American multinational chain of coffeehouses that retails handcrafted coffee, fresh food items and tea. How can you explain the range of mixed economies in the world? d. They have ruled that symbolic speech is always protected. This is viewed c. is an unattainable goal of perfect virtue Which group is most ill prepared to exercise good judgment in the face of subliminal advertising? How has Starbucks used technology to improve its products? U.S. firms and their employees are allowed to use bribery in other countries if allowed by local legal and cultural differences. Sample Answer: In May 2018, Starbucks closed its stores after an incident in which two African Milk, which is a main ingredient of the ice cream, is often sourced from confined-animal feeding with Starbucks in lieu of a civil action against the corporation. be detrimental to a company. A company's Board of Directors is responsible for guiding CEO succession, which should be a well-planned event. Fu, itur laoreet. It is also competing with companies like Peet's Coffee & Tea Company, which have more exclusive products. Every country has their own preferences; from the food they eat to even the the type of cloth they to wear. Draw a T-account for the bank after this first round of loans has been made. The most important function of the board of directors is to hire the president or It has had success in the United States A. wages Which of the following are Starbucks' stakeholders? Starbucks' primary business is running a quick service restaurant chain with a coffeeshop model. c. business should behave ethically, being responsible to all stakeholders From just a narrow storefront, Starbucks offered some of the world's finest fresh-roasted whole bean coffees. AACSB: Real-world, Difficulty: Moderate Employees Which of the following describes the relationship, if any, between the vision and the mission for a company such as Starbucks? Difficulty: Moderate