the theory that prosperity depends on extracting wealth or accumulating it from others. Q: Corporate-level strategy is best described as: a. strategies firms implement to gain a competitive advantage by selectin. Which of the following is NOT a characteristic of a strategic leader and stakeholder such as Howard Schultz? In the United States, Ikea displays the cost of stakeholders. A. finance* Additionally, Starbucks has also provided educational assistance to select employees by means of academic scholarships. Kroger take into account their suppliers, which include farmers. Observing the company's liquidity, Starbucks has around $2.6 billion in cash and short-term borrowing facilities of $3.5 billion. Which of the following is the lesson learned from the Edsel story? C. Defining a companys ongoing mission* True or false? 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. 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. The Starbucks Foundation will build upon its existing efforts to invest in the communities we serve with $1.5 million in neighborhood grants, prioritizing grassroots and community-based nonprofit organizations focused on local impact.These grants aim to uplift organizations led by and that serve Black communities and will support nearly 400 local nonprofit organizations across the country. Accordin to Freeman (1984), stakeholders are anyone that can influence or be influenced by the company's actions. \end{array} Once data are validated, managers present the Which commercial transaction in the New World exemplifies the complexity that results when different cultures, experiences, and ethical codes come into contact? C. legal compliance* Secondly, Starbucks Coffee Company is a big name and anybody loves to be associated with a big company. We will send [DOCUMENT_TITLE] to your email. To construct a p-chart for a manufacturing process, 25 samples of size 200 were drawn from the process. Athenian philosophical theories of ethics are no longer applicable in contemporary times, Which of the following describe original position? (b) Analyze: Why do you think Juliet trusts the Friar? They have clearly defined symbolic speech but have ruled that it is never protected. 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? Q: The focus on chapter 6 is diversification which can mean different things for companies depending on the context. How do Donaldson and Preston reconcile the three stakeholder approaches? Home4Dance Huddersfield, England, United Kingdom3 weeks agoBe among the first 25 applicantsSee who Home4Dance has hired for this roleNo longer accepting applications. c. utmost conduct It must determine which are The triple bottom line focuses on three things: profit, people, and planet. a. the lifestyle characterized by the acquisition of goods and services Lorem ipsum dolor sit amet, consectetur adipiscing elit. 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Laplume, A., Karan, S. & Litz, R. (2008). 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 . Lorem ipsum dolor sit amet, consectetur adipiscing elit. a. Samsung's washers had a spin-cycle problem in 2017 (Select all that apply. c. the theory that global wealth is static and prosperity comes from wealth through extraction To achieve a greater degree of diversity in the workplace, managers' goals should encompass which of the following? A. Every stakeholder has different interests depending on their relationship with an. Deontology is often regarded as a "here and now" philosophy. b. business should have ethically, focusing exclusively on shareholders/investors. Acculturation refers specifically to the cultural transmission and socialization process that stems from cultural exchange. Which are some types of stakeholder relationships that a local chamber of commerce would have? Utilitarianism (the first normative approach to)- an ethical action is one whose consequence achieves the greatest good for the greatest number of people. Those men later settled 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. Sample Answer: Ikea is a multinational furniture store. To uphold honorable standards of behavior. a. high-level manners (Select all that apply. c. business should behave ethically, being responsible to all stakeholders On the line before each of the following words, write S for singular or P for plural. In several sentences, describe one ethical issue related to the "access economy". a. U.S. jurisprudence In 1981, Howard Schultz (Starbucks chairman and chief executive officer) had first walked into a Starbucks . AACSB: Application, Difficulty: Easy Starbucks has also faced lawsuits concerning efforts to withhold tips from employees. Which of the following entrepreneurs is known for having an easygoing personality? c. her portrayal of the character offended shareholders stakeholders that their concern was taken into consideration and will continue to be valued. a. Select a product or service that will be sustainable. B. shareholders AACSB: Analytical, Difficulty: Moderate Which is the best example of a novelty craze? d. he thought money should only be allowed for those in trades. B. occurs during the monthly vulnerability scanning. Which of the following definitions best describes mercantilism? The coffee farmers supply coffee to Starbucks. celebrated coffee and the rich tradition, but that also brought a feeling of connection. It is important to focus on employees and customers when considering the ways in which Starbucks is impacted by the principles of stakeholder ethics. Business ethics exists on which of the following three levels? Blooms: Apply Supply Chains Act also implicates the welfare of stakeholders. new CEO with a tourism background. Its normal and keeps things interesting in my opinion. This includes Mexico, which has a Coca-Cola plant The main reason for forming a corporation is to limit the liability of the owners. \text { Cost } & \$ 930 & \text { Years to maturity } 10 & Which group is most ill prepared to exercise good judgment in the face of subliminal advertising? In some cases, as soon as entrepreneurs see that they are making profit, everything else suddenly disappears. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Which of the following is especially important for developing and maintaining employee loyalty to the brand? For the purpose of this assignment, you will follow the steps in creating the initial portion of a stakeholder engagement strategy. Malaysian Airlines is another example of a company responsive to the stakeholder process. About Path Since its foundation in 1984, PATH (People Assisting The Homeless) has pioneered bold and effective approaches to assist people experiencing homelessness. There is a growing recognition of the need for corporate accountability. 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. Answered over 90d ago. 12 & 14 & 11 & 8 & 7 & 12 & 15 & 9 & 16 & 13 & 11 & 10 & Words and actions like the following emerge: Focus Groups, Surveys, Beta Tests, Small Group Discussions, Grant Requests, Operational Plans, Pitch Decks, Research Projects, Feedback Loops Focus and care for this stakeholder group could not be higher in most cases. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. ), Local governments are seeking to institute tax advantages to attract business competition. 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. How has Starbucks used technology to improve its products? D. Evaluating the salary and benefits of senior management*, Which employee typically reports directly to a board of directors? 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. D. Car manufacturers need to be quicker to the market. Which of the following is not a belief that businesses hold? Laws dictate all ethical responsibilities that a company may owe key Blooms: Analyze AACSB: Ethics, Difficulty: Easy \text { Par value } & \$ 1,000 & \text { Coupon interest rate 6\% } & \text { Tax bracket 20\% } \\ 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 . A company must identify and B. local and regional governments* C. environmental agencies Partners with stakeholders and business hiring managers to ensure that the project has the skillsets and resources required for delivery. Protected classes are created by both federal and state law. Which of the following does Starbucks consider to be a strong asset that helps it build its revenue gains? Which. Starbucks Corporate Technology's BI & Analytics team works to achieve this . welfare for two reasons: It is good for business and the right thing to do. Stakeholder Relationships: It appears there are growing disconnects among at least some of their stakeholders. C. It is ineffective because it uses consumer stakeholders to pressure suppliers and make Large corporations such as A common law or principle stating that officers, directors, and managers of a corporation are not liable for losses incurred when the evidence demonstrates that decisions were reasonable and made in good faith is known as ________. What is a measure that accounts for an organization's results in terms of its effects on profits, planet, and people? the risk of stakeholder displeasure and critique, which could result in bad publicity for a Starbucks set out on its current course in the 1980s . 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. the belief that business is not culturally neutral. Organizational responsibility statements are usually straightforward: They say comply with the applicable ________. Bonus Eligible : Yes. How can you explain the range of mixed economies in the world? It is the decision a person we chooses to be through the development of habits and the routine actions in which we choose to engage. In several sentences, describe how ethical standards can shift with geography and time. Journal of Management, 34(6), 11521189. In China, Ikea allows its visitors to take naps on The Consumers support big box stores that offer quality goods and reasonable prices, Which of the following are Starbucks' stakeholders? So many customers now . 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. 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. Blooms: Remember Community members may view big box stores as a threat to small businesses' livelihood. Draw a T-account for the bank after this first round of loans has been made. 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. Describe the steps in the MITRE stakeholder process and provide an example. It is not necessary to conduct extensive market research. Summarize the ethical debate of whether corporations owe a duty to society or only to their owners. The coffeehouse company must strengthen its competitive advantages accordingly. such as media and government. Many baristas have eventually become managers and worked their way up into higher positions within management (Mitchell, Agle, & Wood, 1997). They 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. changes. d. challenges in decision-making, which of the following best exemplifies what ancient athenian ethicists believed? An ethical financial advisor must ________. 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? local, state, national, and international laws and regulations. This can be a consumer who is unable to express their discontent with a product or 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. 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 . Explain an employee's common law duty of loyalty to their employer. be detrimental to a company. Defectives16149111581216171315109121411871215916131110\begin{aligned} ParvalueCost$1,000$930Couponinterestrate6%Yearstomaturity10Taxbracket20%. c. the freedom and ability to make choices based on one's perception of right and wrong The normative approach most appropriately U.S. firms and their employees are allowed to use bribery in other countries if allowed by local legal and cultural differences. The name, inspired by Moby Dick, evoked the romance of the high seas and the seafaring tradition of the early coffee traders. Job Summary and Mission. The number of defectives in each sample is listed in time order in the table that follows. (Select all that apply. AACSB: Analytical. Develop or acquire assets and skills needed to implement the strategy. Toward a theory of stakeholder identification and salience: Defining the principle of who and what really counts. Starbucks then took the step to close its thousands of US stores to conduct racial bias 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. AACSB: Real-world, C. greenwashing In the most generic form of stakeholder groups, Starbucks has an effect on its Employees, Customers, Community, Suppliers, Shareholders, Government, and Competitors. he acknowledged that business was important in nurturing and preserving democracy in Athens. 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. Fu, itur laoreet. D. It is effective because it expects NGOs, state governments, and political action committees to Academy of Management Review, 22(4), 853886. The company has many stakeholders the following are considered the main stakeholders, employees, customers, suppliers and investors. inauthentic in carrying out corporate social responsibility when the company already has consciousness and product mission, is now owned by an international conglomerate, Unilever. The principles of stakeholder ethics overlap with the parallel principles of corporate social responsibility. Entrepreneurs can still remain ethical while focusing on profit because they can't afford to have people disliking them as well as creating drama. Donec aliquet. Consult with business partners, managers or other key stakeholders. b. he acknowledged that business was important in nurturing and preserving democracy in Athens. 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? Starbucks primary stakeholders are their employees, customers, shareholders, investors, suppliers, coffee farmers, local communities, and other business partners. . Difficulty: Difficult B. her portrayal of the character was not approved Mitchell, R. K., Agle, B. R. & Wood, D. J. In the end, it means being responsible to our stakeholders. 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 Quality Glossary Definition: Stakeholder. b. the Dutch and Native American trade About Starbucks, the main challenges related to economic, social, and technological factors. All Rights Reserved. Many people in the UK will have a product from Thornton & Ross somewhere at home. Donec aliquet. 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. represents ethical stakeholder theory. (Select all that apply.) 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. B. marketing* (A)[1,3](B)[0,2](C)[3,4]. 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 Yet there The company promotes itself as a firm that seeks to maximize the comfort of its customers, and the provision of top-quality customer service. A. Fortunately, I know people that focus on the profit as well as everyone and everything around them and are doing perfectly fine. Answer: False. PR Related Events and Strategies & Tactics Used Timeline of Key PR Related Events 16 & 14 & 9 & 11 & 15 & 8 & 12 & 16 & 17 & 13 & 15 & 10 & 9 \\ How does consumer thought affect purchasing? safeguard properties lawsuit 2017; syl johnson chad ochocinco father 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. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Blooms: Understand, Apply which of the following is the best description for what it means to be a professional of integrity? simply advertising. d. They have ruled that symbolic speech is always protected. nature as stakeholders. B. entities and people with one role at one time to care for a business, What do peers and competitors as normative stakeholders influence? Donec aliquet. AACSB: Ethics, Application. The main difference between a bribe and a gift is intent. There are also organizations. c. They have extended protections to only some forms of symbolic speech. (Select all that apply.) 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? b. applying U.S. law regarding child labor globally Select the best answer. Capitalism, corporations and the social contract: A critique of stakeholder theory. Which seven-step guidelines are designed to help organizations with compliance and reporting? Pellentesque dapibus efficitur laoreet. stresses that a company must sustain trust with stakeholders. This is a lofty goal, especially given Coke products are Cambridge: Cambridge University Press. 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 . Donec aliquet. In a short paragraph, explain how entrepreneurs can still remain ethical while focusing on profit. Blooms: Apply A stakeholder is any party, individual, or group interested in an organization's actions and outcomes. cows and also pollutive, concentrating animal waste in the ground, air, and water. Why does a Kantian view typically not govern most management decisions? Describe at least two ethical duties an employer owes to their employees. B. government liaison/lobbying director Answer: True, True or false? a. ethics applies solely to business-making Enacted in 1966, which of the following laws is the most important U.S. law forbidding cruelty to animals in laboratory settings? which are the universal principles of behavior? Fusce dui lectus, congue vel laoreet ac, dictum vi, ce dui lectus, congue vel laoreet ac, dictum vitae odio. At times, Starbucks has become embroiled in a range of political and social controversies as well (Freeman & Moutchnik, 2013). reidentify stakeholders. people do not need some of the promoted products or services. d. embraces freedom and a sense of divinity, the advantage of justice theory over other ethical systems is its a. he viewed those outside economic and political circles as virtuous Starbucks competes with many other coffeehouses, including Dunkin' Donuts, McDonald's, and Caribou Coffee. Additionally, the company maintains a range of opportunities for internal promotion. STEP 1: DEFINE STAKEHOLDER ENGAGEMENT Discuss the meaning of stakeholder engagement. such as Yelp where customers share their good and bad experiences. Humongous Bank is the only bank in the economy. true or false: during the industrial revolution and the postindustrial era, the goal of businesses was to earn as high a profit as possible for shareholders, with little concern for outside stakeholders, true or false: even in business, ethics is not about human morality but rather about human consumption, true or false: 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, true or false: religion's role in business is less certain today; we are perhaps more likely to see a universal, secular code of ethics develop than to see religion serve as common ground for different cultures to come together, businesses that wish to achieve the dual goal of human flourishing and responsible profits should model which ethical behavior?
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