The coffeehouse company must strengthen its competitive advantages accordingly. Starbucks baristas are paid above the minimum wage, even at the entry-level position. It is not necessary to conduct extensive market research. Which of the following are Starbucks' stakeholders? Today, with over 32,000 stores around the globe, the company is the premier roaster and retailer of specialty coffee in the world. Thirty years ago, Starbucks was a single store in Seattle's Pike Place Market selling premium-roasted coffee. Also, it is crucial that the company inform Each employee prides in working in an organization that acknowledges his efforts. normative, descriptive, and instrumental approaches. Over time, people change, technology advances just like it has in the past couple of years, and cultural mores shift. Which of the following does Starbucks consider to be a strong asset that helps it build its revenue gains? extensive pool of talent. AACSB: Real-world, Difficulty: Moderate Solicit, evaluate and apply suggestions for improving efficiency and cost effectiveness. The international standard providing guidance on social responsibility, called ISO 26000, defines a stakeholder as an "individual or group that has an interest in any decision or activity of an organization." Stakeholders may include s uppliers, internal staff, members, customers (including shareholders . AACSB: Application, Difficulty: Easy Journal of Business Ethics, 108(3), 285298. b. Sarbanes-Oxley STARBUCKS - Essay - 1416 words - Paperdue Enculturation refers to the process by which humans learn the rules, customs, skills, and values to participate in a society. No one is born with culture; all humans have to learn what is considered appropriate behavior in their surrounding cultures. ), positive customer experiences 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. have? chief executive officer. UmweltWirtschaftsForum, 21(1), 59. Pay Range : $123,600- $193,200/ annually. Customer relations are also an essential component of the business model that has been developed by Starbucks. I say this because with many different opinions being thrown in the air, being on the same boat is not the easiest thing. It must determine which are Home4Dance hiring Export Coordinator in Huddersfield, England, United Business 148 Study Guide Flashcards | Quizlet How will Starbucks determine if smaller express stores reduce client wait times after implementing its strategy? The d. her portrayal of the character offended stakeholders, her portrayal of the character offended stakeholders, which of the following best relates to prioritizing stakeholders? How can entrepreneurs best ensure their customer-service vision is passed on to employees? a. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Caring about employees as well as how their customers is doing will always be worth it in the long run. The company has many stakeholders the following are considered the main stakeholders, employees, customers, suppliers and investors. Which of the following are Starbucks' stakeholders? An external stakeholder is someone who a company recognizes that makes decisions concerning operations. Which of the following is not a belief that businesses hold? American men were arrested while waiting for a friend at a Starbucks. 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. b. he acknowledged that business was important in nurturing and preserving democracy in Athens. Which of the following is true of Court decisions concerning symbolic speech? If you feel harassed, prejudiced against, or disadvantaged in your workplace, you may file a complaint with the ________. In the case of Coca-Cola, its website discusses stakeholder engagement in a MANGMT 4970 EXAM 1 (QUIZ QUESTIONS & CONCEPTS), Allen Cognitive Levels (ACL) & Allen Diagnost, CompTia A+ 220-1001 Core 1 Certification Prac, John David Jackson, Patricia Meglich, Robert Mathis, Sean Valentine, Service Management: Operations, Strategy, and Information Technology, Information Technology Project Management: Providing Measurable Organizational Value. 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. which are the universal principles of behavior? c. conscientiousness, honor, and accountability d. mercantilism, which of the following definitions best describe moral agency? b. ethical principles that apply everywhere despite differences in time, geography and culture Laplume, A., Karan, S. & Litz, R. (2008). Explain how Ikea has had to adapt its business model in different countries. uproar. OSX_EthicsTB_Ch03_DefiningAndPrioritizingStakeholders.docx Summarize the ethical debate of whether corporations owe a duty to society or only to their owners. One big issue access economy has is lack of regulations, especially when it comes to overseeing the products and services exchanged during the transaction. with Starbucks in lieu of a civil action against the corporation. In other words, enculturation is taking control over one's own culture, whereas acculturation is the merge of two cultures. d. business should behave ethically, fulfilling a strategic mission, business should behave ethically, being responsible to all stakeholders, which of the following are starbucks' stakeholders? Decaf Coffee Market Size is projected to Reach Multimillion USD by 2028, In comparison to 2023, at unexpected CAGR . 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? b. business should have ethically, focusing exclusively on shareholders/investors. Sample Answer: Companies must take into account the welfare of stakeholders because it is On the line before each of the following words, write S for singular or P for plural. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. One that not only. C. legislatures Describe at least two ethical duties an employer owes to their employees. Which of the following does an entrepreneur typically need to be willing to do to start a business? Summary. Which of the following definitions best describes mercantilism? company. Katherine Martinez (She/Her/Hers) - LinkedIn d. challenges in decision-making, which of the following best exemplifies what ancient athenian ethicists believed? Sample Answer: In May 2018, Starbucks closed its stores after an incident in which two African A. Draw a T-account for the bank. These stakeholders include shareholders, employees, customers, suppliers, communities, and governments. . new CEO with a tourism background. The ExploitDB is a very useful resource for identifying possible weaknesses in your network and for staying up to date on current attacks occurring in other networks". Humongous Bank is the only bank in the economy. Blooms: Understand, Apply The mayor's wife often___ to the front of church on Sunday to show off her expensive, new clothes. 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. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Business ethics Final exam Flashcards | Quizlet Competitors are one of the most significant external stakeholders of Starbucks. Sample Answer: Ikea is a multinational furniture store. Today, Starbucks hosted its 30 th annual meeting of shareholders virtually. Why does a Kantian view typically not govern most management decisions? Therefore, some employees work for Starbucks to gain that status. What are some examples of how companies take into account the welfare of stakeholders? ventana canyon golf membership fees; what ships are in port at norfolk naval base? 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? Starbucks Primary Stakeholders Analysis Essay Example - PaperAp.com Which of the following are factors included when applying a legal definition of diversity? D. Car manufacturers need to be quicker to the market. Decaf Coffee Market Size, Share & Trends Analysis Report - MarketWatch A. An ethical financial advisor must ________. It also changed its policy of allowing noncustomers to visit its stores and use restrooms. 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 . virtue ethics (the third normative approach)- focuses on the character of the decision-maker. D. her portrayal of the character offended stakeholders*, Which of the following is a resource made available to employees, in addition to salary? Ben & Jerrys, an ice cream company known for its founders social c. ethics is the guiding principle for dealing with others Speaking at the annual shareholders meeting in . ), Local governments are seeking to institute tax advantages to attract business competition. (Starbucks does not follow the traditional franchising terms.) Felix Madison has $10,000 worth of property damage insurance and a$1,000 deductible collision insurance policy. Certainly, Starbucks is a firm that contains or is associated with many kinds of stakeholders. He has the following security-related information: Parvalue$1,000Couponinterestrate6%Taxbracket20%Cost$930Yearstomaturity10\begin{array}{llll} What research did the BBC Earth Lab cite to prove or disprove that subliminal advertising is real? List and briefly describe the three normative theories of ethics. Solved Company: Starbucks Stakeholder map and | Chegg.com Lorem ipsum dolor sit amet, consectetur adipiscing elit. \end{array} For the long term, business operations need to inculcate stakeholder According to Donaldson and Preston, what are the three theoretical approaches to considering stakeholder claims? What CSR lesson did Starbucks convey when it closed its stores for a day? M1 - Starbucks Flashcards | Quizlet C. It is ineffective because it uses consumer stakeholders to pressure suppliers and make D. dining/food service, Which of the following are stakeholders? (Select all that apply.) be detrimental to a company. Many people in the UK will have a product from Thornton & Ross somewhere at home. Which Stakeholder Is Most Important Is Always Shown By - Bloomerang C. remuneration Blooms: Analyze, Evaluate At times, Starbucks has become embroiled in a range of political and social controversies as well (Freeman & Moutchnik, 2013). 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. How are Ben & Jerrys and Coca-Cola respective examples of greenwashing? Defectives16149111581216171315109121411871215916131110\begin{aligned} Identify shareholders. 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. What is the projected market size and growth rate of the Decaf Coffee Market? Financial Analysis of PUMA and Nike, Inc. Starbucks Stakeholders: Employees and Customers. ), milk producers It is ineffective because it only requires disclosure of information about suppliers' working conditions and does not govern those suppliers. b. corporations need to maintain initial priority of stakeholders 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). b. code of ethics Miles, S. (2012). After In a short paragraph, explain how entrepreneurs can still remain ethical while focusing on profit. c. They have extended protections to only some forms of symbolic speech. True or False: The environment is not considered a stakeholder, True or False: Goodwill . March 16, 2022 4 min read. Consider Fisher's remarks in the last two paragraphs. C. legal compliance* 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? The firm issued $3 billion in bonds, taking advantage of the. Blooms: Apply 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. Examples Of Verizon Stakeholders - 818 Words | Internet Public Library Select a product or service that will be sustainable. Also, a bribery is very unethical and can look bad for the business. premise by lawyers and legal-aid groups. Starbucks' Stakeholders: Employees and Customers 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. B. occurs during the monthly vulnerability scanning. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Blooms: Evaluate Starbucks hiring manager, program management- corporate technology in simply advertising. Donec aliquet. Emily Miner, CCEP on LinkedIn: What Should Leaders Do To Prepare For a. milk producers A company must identify and d. Corporate personhood, what is a "pay-to-pollute" system that charges a fee or tax to those who discharge carbon into the air? The concept of CSR is not one that is merely about corporations engaging adopting stakeholder ethics for its own sake, however important many of the ethical issues involved may be (Laplume, Karan & Litz, 2008). A normative approach views stakeholders as ends in themselves rather Pellentesque dapibus efficitur laoreet. companies that intentionally keep hours at less than 29 to avoid more costly regulations like the ACA than as a means to achieve better financial results. d. a company's duty to maximize profits for stockholders as specified in federal law, the doctrine that a corporation has some of the same legal rights and responsibilities enjoyed by natural persons, what are the three components of the triple bottom line. c. the freedom and ability to make choices based on one's perception of right and wrong Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. B. Supervising middle and senior management One way to address the issue of shared responsibility between corporations and society is the implementation of a(n) ________. When expanded it provides a list of search options that will switch the search inputs to match the current selection. A. milk producers* Which of the following are Starbucks' stakeholders? d. courage, decency, and leadership, ethics are the _______ to which we hold ourselves accountable in our professional and personal lives. Starbucks CEO Kevin Johnson earned a $1.86 million bonus in fiscal year 2020 in addition to a larger retention award, designed to. a. Samsung's washers had a spin-cycle problem in 2017 Blooms: Apply Which of the following is an example of an external stakeholder of an organization? Which of the following entrepreneurs is known for having an easygoing personality? A. her portrayal of the character was insincere Which commercial transaction in the New World exemplifies the complexity that results when different cultures, experiences, and ethical codes come into contact? As for ethical duties, they are standards based on human principles of right from wrong. Blooms: Analyze 4 Consolidated net revenues increased 24% to $29.1 billion for the. a. promising to earn less profit per share AACSB: Ethics, Application. &\text { Defectives }\\ Starbucks has, at times, been accused of racial discrimination as well as transgender discrimination. Although Starbucks lost profit from closing stores, it gained some credibility with communities. How much will money supply increase with that original loan of $19 million? This file is copyright 2019, Rice University. Which of the following is the BEST resource for obtaining payloads AACSB: Real-world, Difficulty: Moderate $16.7 Million To Save One Reputation: How Starbucks Responded Amidst a c. methodology for arriving at the truth a. customers are not considered high-priority stakeholder Answer: False. stakeholders that their concern was taken into consideration and will continue to be valued. They Which concept means that the owners (shareholders) of corporations, as well as directors and managers, are protected by laws stating that their losses in case of business failure cannot exceed the amount they paid for their shares of ownership? Stakeholder ethics involves a body of thought which insists that the ethical responsibilities of corporations extend not only to the shareholders but also to the full range of interests that are impacted by corporate activity. 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. Mansell, S. (2013). a. her portrayal of the character was insincere 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. making sure the stores employees and the company policies were sensitive toward identifying How do Donaldson and Preston reconcile the three stakeholder approaches? Starbucks c. the Dakota land trade PDF RESPONSIBLE BUSINESS PRACTICES - Starbucks Coffee Company which of the following most likely contributes to a corporation's positive work atmosphere over the long term? companies. c. is an unattainable goal of perfect virtue (Select all that apply.) Find the absolute maximum and minimum, if either exists, for each function on the indicated intervals. A. finance* d. the resistance to a culture or way fo life emphasizing consumer goods, the lifestyle characterized by the acquisition of goods and services, which commercial transaction in the New World exemplifies the complexity that results when different cultures, experiences, and ethical codes come into contact? a. consumerism 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. Starbucks: More Value For Shareholders Through - SeekingAlpha Identify and describe two benefits of employee diversity in the workplace. 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. 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). Having theoretical approaches to stakeholders highlights AACSB: Application, Ethics, Difficulty: Moderate Answered over 90d ago. c. environmental tax . Answer: True, True or false? a. community An analysis of perceived priority of shareholder impact should include which of the following? 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It has had success in the United States What constitutes a reasonable profit may be unfair. Community members may view big box stores as a threat to small businesses' livelihood. Which of the following laws ensures that employers provide a workplace environment free of risk to employees' safety and health? A firm's vision is the foundation for its mission. Blooms: Analyze Starbucks has also faced lawsuits concerning efforts to withhold tips from employees. Furthermore, there is True or false? 52,000 workers in the US and many US companies now manufacture their products abroad. (promenades; tarries). Blooms: Apply Of course companies have the responsibility to market their products with integrity because without them, the business would be no where. most important, given its provision of goods and services. consumed by 20% of the worlds population. Do companies have the responsibility to market their products with integrity? Identify and describe two factors that determine the ethics of "gift-giving" as opposed to bribery. 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. Blooms: Apply B. local and regional governments* Describe what type of goal each is. b. Humongous Bank is required to hold 5% of its existing$20 million as reserves, and to loan out the rest. Which of the following are considered intellectual virtues? 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. this is an example of.. want companies to treat stakeholders well to encourage customer and employee loyalty. marketplace, Starbucks has an opportunity to lead by example. Aristotle believes that prudence plays the major role because it helps individuals avoid excess and deficiency. __ A program where students work on campus to earn money. Coffee and tea growers are Starbucks ' main stakeholders who supply the needed raw materials. Starbucks Stakeholder Analysis. Difficulty: Moderate D. stakeholder prioritization, Difficulty: Easy a. U.S. jurisprudence About Starbucks Since 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting high-quality arabica coffee. 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.