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Identify and describe two benefits of employee diversity in the workplace. We are, therefore, b. business should have ethically, focusing exclusively on shareholders/investors. Cambridge: Cambridge University Press. Participate in and support community . Which of the following are Starbucks' key stakeholders? which are the universal principles of behavior? D. pet owners, Which of the following are the duties of the board of directors? C. Defining a companys ongoing mission* (2013). From the beginning, Starbucks set out to be a different kind of company. consumed by 20% of the worlds population. How can you explain the range of mixed economies in the world? 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. Difficulty: Difficult Find the absolute maximum and minimum, if either exists, for each function on the indicated intervals. 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 . Ben & Jerrys, an ice cream company known for its founders social social media, they are apt to speak up about their customer experience. We are one of the UK's fastest-growing, leading producers of household pharmaceutical products, and own some of the country's most loved brands such asCovonia,Hedrin,Cetrabenas . Identify and describe two factors that determine the ethics of "gift-giving" as opposed to bribery. c. the freedom and ability to make choices based on one's perception of right and wrong Laws dictate all ethical responsibilities that a company may owe key Consumers are demanding more than "product" from their favorite brands. a. promising to earn less profit per share d. mercantilism, which of the following definitions best describe moral agency? An analysis of perceived priority of shareholder impact should include which of the following? Business ethics exists on which of the following three levels? b. carbon tax What research did the BBC Earth Lab cite to prove or disprove that subliminal advertising is real? a. community \end{aligned} B. The main reason for forming a corporation is to limit the liability of the owners. governance. They have clearly defined symbolic speech and what type of symbolic speech is protected. 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. Which of the following is a resource made available to employees, in addition to salary? Miles, S. (2012). Car design should focus on being competitive on the road. A. d. her portrayal of the character offended stakeholders, her portrayal of the character offended stakeholders, which of the following best relates to prioritizing 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? Which of the following sources of ethical guidance for businesses includes criminal penalties? 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 . being committed to ethical business practices. Blooms: Understand a. pollution tax b. set of cultural norms Starbucks Coffee Company supports its competitive advantages through the characteristics of its corporate structure. The normative approach most appropriately Thirty years ago, Starbucks was a single store in Seattle's Pike Place Market selling premium-roasted coffee. Phillips, R. (2003). Select the best answer. Blooms: Application This file is copyright 2019, Rice University. 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 This This includes race, color, religion, national origin or ancestry, sex and so on. Do companies have the responsibility to market their products with integrity? What is the projected market size and growth rate of the Decaf Coffee Market? The price of plastic straws had been increasing and Starbucks saw the proposal as an opportunity to both please stakeholders and cut costs d. Many cities were already considering plastic straw bans and agreeing to the proposal allowed Starbucks to act before regulatory action was taken Berrett-Koehler Publishers. Starbucks Stakeholder Analysis. Which of the following is not an example of a diffused shareholder? (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. Culture and ethics cannot be separated, because ethical norms have been established over time by, and make sense to, people who share the same background, language, and customs. AACSB: Ethics, Difficulty: Easy Blooms: Remember Using this, calculate the after-tax cost of the Sony bond given Davids tax bracket. Today, Starbucks hosted its 30 th annual meeting of shareholders virtually. Course Hero is not sponsored or endorsed by any college or university. c. Compute and plot the A, B, and C zone boundaries on the p-chart. urban and suburban communities Explain Lynn Stouts view of the role of shareholders and the implication for stakeholder Which of the following is NOT a characteristic of a strategic leader and stakeholder such as Howard Schultz? Which of the following describes the efficacy of legislation like the California Transparency in Supply Chains Act? service, for example. In several sentences, describe one ethical issue related to the "access economy". A firm's vision is the foundation for its mission. The main difference between a bribe and a gift is intent. 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? Observing the company's liquidity, Starbucks has around $2.6 billion in cash and short-term borrowing facilities of $3.5 billion. (Select all that apply.) All companies must have a board of directors. 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. Once data are validated, managers present the What is the ethical issue behind issuing disaster insurance? 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. Blooms: Analyze Stakeholders To contribute to sustainable development inside a destination using environmentalism, everyone stakeholders should collaborate systematically to seek collective advantages again for destinations, also to improve the macroeconomic stability of such region's people and support preservation. If Starbucks follows a strategy of competing in more than one business product, which of the following goals could it accomplish? 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? (Select all that apply. Operations Management questions and answers. Which of the following is the lesson learned from the Edsel story? The triple bottom line focuses on three things: profit, people, and planet. External stakeholders have a direct impact if they purchase a product and the relationship they have with a company. Those men later settled 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. Cross), Give Me Liberty! B. marketing* Which of the following does Starbucks consider to be a strong asset that helps it build its revenue gains? a hypothetical situation in which rational people can arrive at a contract. In 1981, Howard Schultz (Starbucks chairman and chief executive officer) had first walked into a Starbucks . Pay Range : $123,600- $193,200/ annually. The Which of the following is an example of an external stakeholder of an organization? All Rights Reserved. These are standard stakeholders of almost every business that operates in the United States or overseas. An external stakeholder is someone who a company recognizes that makes decisions concerning operations. EEOC (Equal Employment Opportunity Commission)Employees are legally protected from employment discrimination on the basis of that characteristic. B. shareholders celebrated coffee and the rich tradition, but that also brought a feeling of connection. The emphasis was on a. he viewed those outside economic and political circles as virtuous ), True or false? Blooms: Apply b. standards of behavior Most business organizations hold three different kinds of beliefs about themselves. D. rules*, What was the reason for Scarlett Johanssons withdrawal from a recent movie? Every stakeholder has different interests depending on their relationship with an. Pellentesque dapibus efficitur laoreet. companies. operations (CAFO). pilgrimages in response to passenger stakeholder interests in making such trips. All stakeholders must be treated the same. AACSB: Real-world, Difficulty: Easy including surveys or social media, for example. A. industry norms* All stakeholders must be treated the same. PR Related Events and Strategies & Tactics Used Timeline of Key PR Related Events Additionally, Starbucks has also provided educational assistance to select employees by means of academic scholarships. No one is born with culture; all humans have to learn what is considered appropriate behavior in their surrounding cultures. D. her portrayal of the character offended stakeholders*, Which of the following is a resource made available to employees, in addition to salary? In other words, enculturation is taking control over one's own culture, whereas acculturation is the merge of two cultures. How much will money supply increase with that original loan of $19 million? Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Often there is a hierarchy that places consumers or customers first. A firm's vision is the foundation for its mission. Having theoretical approaches to stakeholders highlights In some 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. Mansell, S. (2013). C. Stakeholder perceptions have a large impact on success. Q: Corporate-level strategy is best described as: a. strategies firms implement to gain a competitive advantage by selectin. C. legislatures ), Explore over 16 million step-by-step answers from our library, icitur laoreet. It is important for executives to interact with outside-environment stakeholders No.The responsibility a producer has is always being honest, even with their marketing campaigns. 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. Summary. local, state, national, and international laws and regulations. It is insufficient to have a mission statement, language on a website, or 35.Deconfliction is necessary when the penetration test: A. determines that proprietary information is being stored in cleartext. 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 following is a guide to engaging successfully with stakeholder groups. In the most generic form of stakeholder groups, Starbucks has an effect on its Employees, Customers, Community, Suppliers, Shareholders, Government, and Competitors. Blooms: Apply This button displays the currently selected search type. A. milk producers* Starbucks is opening small cafes half the size of existing cafes. Many people in the UK will have a product from Thornton & Ross somewhere at home. In the United States, Ikea displays Provide at least two examples of how employees' expectations of work have changed in modern business. Also, Starbucks faced the challenge of technology. How is Starbucks diversifying in India to fit into the local culture? Pellentesque dapibus efficitur laoreet. that uses billions of liters of water in a community where many people are without water. inauthentic in carrying out corporate social responsibility when the company already has Explain using details from the text. The name, inspired by Moby Dick, evoked the romance of the high seas and the seafaring tradition of the early coffee traders. (Select all that apply.) This can be a consumer who is unable to express their discontent with a product or the belief that business is not culturally neutral. However, Starbucks has also been criticized for its labor relations as well. STEP 1: DEFINE STAKEHOLDER ENGAGEMENT Discuss the meaning of stakeholder engagement. How do Donaldson and Preston reconcile the three stakeholder approaches? The number of defectives in each sample is listed in time order in the table that follows. The California Transparency in Donec aliquet. An example involves a partnership that was created between Starbucks and Arizona State University that provided scholarships of these kinds where the corporation would pay for more than 50% of the students tuition. long-term dialogue to inform the companys decision making and as a core component of its consciousness and product mission, is now owned by an international conglomerate, Unilever. Lorem ipsum dolor sit amet, consectetur adipiscing elit. 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AACSB: Analytical, Difficulty: Easy How does consumer thought affect purchasing? Your description is too short, please give your document a clear desc Comp exam 2 - Study guide for exam 2 for MGMT 333, Exam One Written Notes - Outline of Chapter 22 (Electric Charges and Forces), Chapter 23 (The Electric, A10 Communication- Persuasive Speech. The most important function of the board of directors is to hire the president or (Select all that apply. Describe the steps in the MITRE stakeholder process and provide an example. ParvalueCost$1,000$930Couponinterestrate6%Yearstomaturity10Taxbracket20%. 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. 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? D. compensation. From just a narrow storefront, Starbucks offered some of the world's finest fresh-roasted whole bean coffees. Blooms: Remember Each employee prides in working in an organization that acknowledges his efforts. Kroger take into account their suppliers, which include farmers. Answer: True, True or false? Which seven-step guidelines are designed to help organizations with compliance and reporting? systemic ethics problems. a. customers are not considered high-priority stakeholder Make a list of Starbucks' goals. \text { Par value } & \$ 1,000 & \text { Coupon interest rate 6\% } & \text { Tax bracket 20\% } \\ Decaf Coffee Market Size is projected to Reach Multimillion USD by 2028, In comparison to 2023, at unexpected CAGR . Stakeholder theory: Reviewing a theory that moves us. 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? P3-1. Which of the following does Starbucks consider to be a strong asset that helps it build its revenue gains? Which. About Path Since its foundation in 1984, PATH (People Assisting The Homeless) has pioneered bold and effective approaches to assist people experiencing homelessness. than as a means to achieve better financial results. 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. In the Supreme Court ruling Citizens United v. Federal Election Commission, which Amendment was at the center of the case? f(x)=x48x2+16, (A)[1,3](B)[0,2](C)[3,4](A)\ [-1,3]\qquad (B)\ [0,2]\qquad (C)\ [-3,4] Caring about employees as well as how their customers is doing will always be worth it in the long run. such as media and government. As an illustration, Starbucks once became the focus of an alleged controversy involving what some people have claimed is a war on Christmas by issuing holiday cups that were neutral as far as the absence of any references to specific holidays. Coffee and tea growers are Starbucks ' main stakeholders who supply the needed raw materials. D. It is effective because it expects NGOs, state governments, and political action committees to (Select all that apply.) Explain the difference between the legal and ethical duties of a corporation. coffee and tea growers. AACSB: Application. a. humanity in ethics Which of the following are steps in the MITRE stakeholder process? Enacted in 1966, which of the following laws is the most important U.S. law forbidding cruelty to animals in laboratory settings? Blooms: Apply Starbucks operates in more than 80 markets, either in the form of direct company-owned stores or licensed stores. (Select all that apply. b. code of ethics The firm issued $3 billion in bonds, taking advantage of the. Blooms: Evaluate . AACSB: Application, Real-world. Toward a theory of stakeholder identification and salience: Defining the principle of who and what really counts. Blooms: Apply It also changed its policy of allowing noncustomers to visit its stores and use restrooms. b. AACSB: Application, Difficulty: Moderate Certainly, Starbucks is a firm that contains or is associated with many kinds of stakeholders. Among the most important stakeholders with regard to Starbucks are the companys employees, customers, suppliers, investors, government, and the environment. which are the universal principles of behavior? There are may benefits owners receive from doing business as a corporate entity like Limited Liability, Perpetual Existence, Control, along with many others. Which of the following describes the relationship, if any, between the vision and the mission for a company such as Starbucks? He had a tire blowout while driving and crashed into a $1,400 fire hydrant. 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. There are also organizations. Which of the following are Starbucks' stakeholders? D. plastic-cover manufacturers, Which are some types of stakeholder relationships that a local chamber of commerce would Starbucks' primary business is running a quick service restaurant chain with a coffeeshop model. Blooms: Analyze b. courage, honor, and loyalty Customer relations are also an essential component of the business model that has been developed by Starbucks. 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 . reidentify stakeholders. Defectives16121414911118157812121516917161313151110109. C. remuneration Answer: False, True or false? b. the doctrine that a corporation has some of the same legal rights and responsibilities enjoyed by natural persons c. business should behave ethically, being responsible to all stakeholders 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. essence of Stouts view is concern that shareholders may want to maximize their investment at Blooms: Apply Quality Glossary Definition: Stakeholder. d. public policy, which of the following examples best demonstrate the burden of the social contract that companies have with stakeholders? a. the responsibility a company has regarding justice and care The most immediately visible and representative employees of Starbucks are the individuals that engage as servers in Starbucks stores. Fu, itur laoreet. Of course companies have the responsibility to market their products with integrity because without them, the business would be no where. The people in this economy have $20 million in money, and they deposit all their money in Humongous Bank. It is in a business's best interest to promote human flourishing within the organization by providing ________. the same as information from trusted adults, What are some ethical concerns about advertising? The shippers have also announced the suspension of both . 100 %. Which of the following definitions best describes mercantilism? Explain an employee's common law duty of loyalty to their employer. d. They have ruled that symbolic speech is always protected. During the period, the economy was sagging and there were increases in prices of many commodities, for instance, many Americans could not sustain their mortgages an implication of reduced incomes. Job Summary and Mission. 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. be detrimental to a company. 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. Starbucks continually emphasizes its commitment to corporate social responsibility. In several sentences, describe one ethical draw-back of job-sharing. Describe Kant's "Deontology" view of ethics. 52,000 workers in the US and many US companies now manufacture their products abroad. In China, Ikea allows its visitors to take naps on Lorem ipsum dolor sit amet, consectetur adipiscing elit. Secondary stakeholders are media outlets, government, enviromentalist groups, and their competitors. Develop or acquire assets and skills needed to implement the strategy. c. methodology for arriving at the truth D. Car manufacturers need to be quicker to the market. The airline is now focused on promoting Muslim Answered over 90d ago. A. milk producers* B. urban and suburban communities* C. coffee and tea growers* D. plastic-cover manufacturers 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. Enculturation refers to the process by which humans learn the rules, customs, skills, and values to participate in a society. 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. this is an example of.. 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. Journal of Business Ethics, 108(3), 285298. b. Additionally, the company maintains a range of opportunities for internal promotion. Defectives16149111581216171315109121411871215916131110\begin{aligned} B. urban and suburban communities* d. Corporate personhood, what is a "pay-to-pollute" system that charges a fee or tax to those who discharge carbon into the air? A. her portrayal of the character was insincere a. ethics applies solely to business-making and China, for example, by adapting to local cultural norms. Establish trust. (A)[1,3](B)[0,2](C)[3,4]. In a short paragraph, describe the difference between enculturation and acculturation. As Starbucks, we can either choose to rise to this moment or stand idle. Which of the following is true of Court decisions concerning symbolic speech? c. customers are considered high-priority stakeholders Which of the following are well-documented outcomes? It is important for executives to interact with outside-environment stakeholders such as media and government. Accordin to Freeman (1984), stakeholders are anyone that can influence or be influenced by the company's actions. 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. Answer: True, True or false? 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. b. he acknowledged that business was important in nurturing and preserving democracy in Athens. \text { Cost } & \$ 930 & \text { Years to maturity } 10 & Which of the following is especially important for developing and maintaining employee loyalty to the brand? the importance of companies considering the priority of such parties. Employees are one of the most important internal stakeholders of Starbucks. Describe what type of goal each is. Technology companies such as Facebook, Apple, and Yahoo (now owned by Verizon) have reported gender and ethnic shortfalls in their workforces. Donec aliquet. Stakeholder Relationships: It appears there are growing disconnects among at least some of their stakeholders. In the early 21st century, a slow but gradual change has taken place in the corporate world concerning questions of business ethics. 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. To construct a p-chart for a manufacturing process, 25 samples of size 200 were drawn from the process. 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. c. humanistic business model Which of the following is changing the environment in which many of the world's industries compete? Solicit, evaluate and apply suggestions for improving efficiency and cost effectiveness. Maybe complaining online or in customer service reviews would be Starbucks set out on its current course in the 1980s . Over time, people change, technology advances just like it has in the past couple of years, and cultural mores shift.