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Starbucks baristas are paid above the minimum wage, even at the entry-level position. This can be a consumer who is unable to express their discontent with a product or For that law, companies are. Donec aliquet. c. media In Richard DeGeorge's humanities model, business ethics would prepare students to do certain specific things. ), True or false? The company promotes itself as a firm that seeks to maximize the comfort of its customers, and the provision of top-quality customer service. which of the following most likely contributes to a corporation's positive work atmosphere over the long term? A. milk producers* B. urban and suburban communities* C. coffee and tea growers* D. plastic-cover manufacturers An external stakeholder is someone who a company recognizes that makes decisions concerning operations. be detrimental to a company. c. the theory that global wealth is static and prosperity comes from wealth through extraction than as a means to achieve better financial results. What is a "pay-to-pollute" system that charges a fee or tax to those who discharge carbon into the air? Their concerns are identified through data gathering and analysis, Entrepreneurs can still remain ethical while focusing on profit because they can't afford to have people disliking them as well as creating drama. They need to develop sustainable sources of quality beans. Explain how owners benefit from doing business as a corporate entity. Course Hero is not sponsored or endorsed by any college or university. a. U.S. jurisprudence Answer: False, True or false? c. conscientiousness, honor, and accountability In the early 21st century, a slow but gradual change has taken place in the corporate world concerning questions of business ethics. companies. Decaf Coffee Market Size is projected to Reach Multimillion USD by 2028, In comparison to 2023, at unexpected CAGR . In many ways, Starbucks is indeed a firm that maintains higher standards concerning the treatment of employees than many other firms in service-related retail industries (for example, fast food restaurant chains and superstores). being committed to ethical business practices. b. ethics is about what someone does These stakeholders include shareholders, employees, customers, suppliers, communities, and governments. It is not necessary to conduct extensive market research. FedEx and UPS. What was the decision? The entitlement of the environment to legal status is a long-argued Cross), Give Me Liberty! What CSR lesson did Starbucks convey when it closed its stores for a day? Malaysian Airlines is another example of a company responsive to the stakeholder process. Speaking at the annual shareholders meeting in . Mansell, S. (2013). Draw a T-account for the bank after this first round of loans has been made. people do not need some of the promoted products or services. Today, Starbucks hosted its 30 th annual meeting of shareholders virtually. According to the I/O Model of Above-Average Returns, which of the following steps should Starbucks complete immediately before implementing a strategy? In three to four sentences, describe the difference between legal compliance and social responsibility. 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. After Sample Answer: A company needs to be aware of its stakeholders. (Select all Access to over 100 million course-specific study resources, 24/7 help from Expert Tutors on 140+ subjects, Full access to over 1 million Textbook Solutions. &\begin{array}{ccccccccccccc} a. customers are not considered high-priority stakeholder 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. AACSB: Application, Real-world, Difficulty: Moderate In other words, enculturation is taking control over one's own culture, whereas acculturation is the merge of two cultures. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. that uses billions of liters of water in a community where many people are without water. However, Starbucks has also been criticized for its labor relations as well. We will send [DOCUMENT_TITLE] to your email. D. Car manufacturers need to be quicker to the market. Select the best answer. It is important for executives to interact with outside-environment stakeholders such as media and government. (Select all that apply.) d. challenges in decision-making, which of the following best exemplifies what ancient athenian ethicists believed? Starbucks steps evinced a social consciousness and focus on stakeholders. Today, with over 32,000 stores around the globe, the company is the premier roaster and retailer of specialty coffee in the world. Cambridge: Cambridge University Press. a. milk producers 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. 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. Consumers support big box stores that offer quality goods and reasonable prices, Which of the following are Starbucks' stakeholders? Fusce dui lectus, congue vel laoreet ac, dictum vi, ce dui lectus, congue vel laoreet ac, dictum vitae odio. B. Which of the following are Starbucks' stakeholders? Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Lorem ipsum dolor sit amet, consectetur adipiscing elit. The three Starbucks founders had two things in common: they were all coming from academia, and they all loved coffee and tea. Here is a list of some of the most common external stakeholders your organization may work with: Customers Communities C. Stakeholder perceptions have a large impact on success. Explain Lynn Stouts view of the role of shareholders and the implication for stakeholder b. the doctrine that a corporation has some of the same legal rights and responsibilities enjoyed by natural persons Solicit, evaluate and apply suggestions for improving efficiency and cost effectiveness. such as Yelp where customers share their good and bad experiences. 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. 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. Explain using details from the text. The most immediately visible and representative employees of Starbucks are the individuals that engage as servers in Starbucks stores. Blooms: Apply b. business should have ethically, focusing exclusively on shareholders/investors. In several sentences, describe one ethical draw-back of job-sharing. Starbucks prioritizes employees in its corporate social responsibility efforts. c. is an unattainable goal of perfect virtue A. wages (Select all that apply.) a. an enumerated power listed in the constitution in the Bill of Rights The coffee farmers supply coffee to Starbucks. d. They have ruled that symbolic speech is always protected. Bonus Eligible : Yes. Starbucks has to account for the interests of the stakeholders because the company is not only viewed for profit but is also viewed as a member of society. 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). Also, it is crucial that the company inform They can be found working as baristas, store managers, or regional executives. ), Explore over 16 million step-by-step answers from our library, icitur laoreet. Job Summary and Mission. All companies must have a board of directors. Which legislation was passed in 2002 that mandates reporting transparency by businesses in areas ranging from finance to accounting to supply chain activities? Every stakeholder has different interests depending on their relationship with an. Do companies have the responsibility to market their products with integrity? Blooms: Analyze, Evaluate Henry Ford must operate Ford Motor Company primarily to maximize profit for its shareholders. 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. UmweltWirtschaftsForum, 21(1), 59. Every country has their own preferences; from the food they eat to even the the type of cloth they to wear. 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? 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. c. environmental tax c. methodology for arriving at the truth Enculturation refers to the process by which humans learn the rules, customs, skills, and values to participate in a society. b. It must determine which are Misunderstanding and lack of communication tend to happen even more. 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. What has unfolded at Starbucks is anything but. B. marketing* d. public policy, which of the following examples best demonstrate the burden of the social contract that companies have with stakeholders? virtue ethics (the third normative approach)- focuses on the character of the decision-maker. Lorem ipsum dolo, ac, dictum vitae odio. beds, which is acceptable in that culture. Labor union membership remains much higher in Europe and other Group of Seven countries than in the United States, in part because some of those countries allow managers to be members of the union. Pellentesque dapibus efficitur laoreet. stakeholders. Which of the following are considered intellectual virtues? Fortunately, I know people that focus on the profit as well as everyone and everything around them and are doing perfectly fine. __ A program where students work on campus to earn money. 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. Which of the following are Starbucks' key stakeholders? B. Supervising middle and senior management Stakeholder theory: Reviewing a theory that moves us. There are dedicated sites a. the lifestyle characterized by the acquisition of goods and services changes. essence of Stouts view is concern that shareholders may want to maximize their investment at e. They have not directly addressed the matter of symbolic speech. a. high-level manners ), religious beliefs One way to address the issue of shared responsibility between corporations and society is the implementation of a(n) ________. Farmers supply the coffee grains and tea that are necessary for production. Download Assets. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. 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. Donec aliquet. AACSB: Ethics, Difficulty: Easy with Starbucks in lieu of a civil action against the corporation. OSX Ethics TB Ch03 Defining And Prioritizing Stakeholders, Chapter 3: Defining and Prioritizing Stakeholders, Difficulty: Easy It is important to focus on employees and customers when considering the ways in which Starbucks is impacted by the principles of stakeholder ethics. 4 Consolidated net revenues increased 24% to $29.1 billion for the. How can entrepreneurs best ensure their customer-service vision is passed on to employees? As Starbucks, we can either choose to rise to this moment or stand idle. local, state, national, and international laws and regulations. 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 . Journal of Management, 34(6), 11521189. Which of the following are Starbucks' stakeholders? Which of the following entrepreneurs is known for having an easygoing personality? Lorem ipsum dolor sit amet, consectetur adipiscing elit. the risk of stakeholder displeasure and critique, which could result in bad publicity for a As for ethical duties, they are standards based on human principles of right from wrong. Which insurance covers the damage to the fire hydrant? 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. (Select all that apply.). How is Starbucks diversifying in India to fit into the local culture? Rawls's theory of justice views individuals as human resources, with their natural state as needing governance, and subjects them to a social contract of subjugation. 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. 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. Which is the best example of a recent company crisis caused by poor leadership? Fu, itur laoreet. (A)[1,3](B)[0,2](C)[3,4]. Pinched supply chains, the decimation caused by COVID, heightened tensions and political unrest, a racial reckoning and a rising generation which seeks a new accountability for business. AACSB: Application, Difficulty: Easy Difficulty: Difficult insufficient. extensive pool of talent. c. coffee and tea growers 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: Remember c. utmost conduct Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. and avoiding bias. Some ads exaggerate or distort what goods or services deliver. 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 Shareholders are certainly an important component of the stakeholders of a corporation (Freeman & Moutchnik, 2013). In some A. chief legal officer such as media and government. Accordin to Freeman (1984), stakeholders are anyone that can influence or be influenced by the company's actions. Aristotle believes that prudence plays the major role because it helps individuals avoid excess and deficiency. His expertise also extends to areas such as leadership, corporate responsibility and business strategy. How has Starbucks used technology to improve its products? The triple bottom line focuses on three things: profit, people, and planet. b. globalization Which of the following are steps in the MITRE stakeholder process? 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. ventana canyon golf membership fees; what ships are in port at norfolk naval base? Describe Kant's "Deontology" view of ethics. 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. c. the freedom and ability to make choices based on one's perception of right and wrong The duty to obey a categorical imperative is irrespective of consequences. Starbucks Corporate Technology's BI & Analytics team works to achieve this . 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. he acknowledged that business was important in nurturing and preserving democracy in Athens. 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. (Select all that apply.) Which. Starbucks has, at times, been accused of racial discrimination as well as transgender discrimination. marketplace, Starbucks has an opportunity to lead by example.