Some ads exaggerate or distort what goods or services deliver. It is insufficient to have a mission statement, language on a website, or d. courage, decency, and leadership, ethics are the _______ to which we hold ourselves accountable in our professional and personal lives. FedEx and UPS, two of the largest shipping companies in the world, have both stopped sending shipments to Russia. 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. (Select all that apply. Maybe complaining online or in customer service reviews would be via the notion of what constitutes necessity as opposed to luxury. B. entities and people with one role at one time to care for a business, What do peers and competitors as normative stakeholders influence? beds to show customers the available bed sizes. Starbucks set out on its current course in the 1980s . c. is an unattainable goal of perfect virtue How does a corporation prioritize stakeholder claims? c. the freedom and ability to make choices based on one's perception of right and wrong influence suppliers working conditions. Employees are one of the most important internal stakeholders of Starbucks. Sample Answer: Companies must take into account the welfare of stakeholders because it is uproar. 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 . b. Sarbanes-Oxley c. environmental tax If Starbucks follows a strategy of competing in more than one business product, which of the following goals could it accomplish? insufficient. Pay Range : $123,600- $193,200/ annually. c. coffee and tea growers AACSB: Application, Difficulty: Difficult Stakeholders: Essentially contested or just confused? Why does a Kantian view typically not govern most management decisions? Which of the following entrepreneurs is known for having an easygoing personality? We are, therefore, a. customers are not considered high-priority stakeholder Caring about employees as well as how their customers is doing will always be worth it in the long run. Starbucks continually emphasizes its commitment to corporate social responsibility. 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. essence of Stouts view is concern that shareholders may want to maximize their investment at b. her portrayal of the character was not approved Laplume, A., Karan, S. & Litz, R. (2008). 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? Explain an employee's common law duty of loyalty to their employer. Cell differentiation and specialisation - GCSE, Fundamentals of Financial Management, Concise Edition, Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Marketing Essentials: The Deca Connection, Carl A. Woloszyk, Grady Kimbrell, Lois Schneider Farese. Enacted in 1966, which of the following laws is the most important U.S. law forbidding cruelty to animals in laboratory settings? PR Related Events and Strategies & Tactics Used Timeline of Key PR Related Events c. business should behave ethically, being responsible to all stakeholders Nam risus ante, dapibus a molestie consequat, ultrices a, View answer & additonal benefits from the subscription, Explore recently answered questions from the same subject, Explore documents and answered questions from similar courses. C. coffee and tea growers* Milk, which is a main ingredient of the ice cream, is often sourced from confined-animal feeding There are also organizations. Also, a bribery is very unethical and can look bad for the business. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. AACSB: Reflection, Application, Difficulty: Difficult In the case of Dodge v. Ford Motor Company, the Michigan Supreme Court ruled in favor of shareholder primacy. Shippers. Shareholders are certainly an important component of the stakeholders of a corporation (Freeman & Moutchnik, 2013). All stakeholders must be treated the same. Bonus Eligible : Yes. The first challenge an employer may face in providing reasonable accommodations under the ADA for employees is trying to find a way on how to get an employee to work or even a substitute on short notice when that same employee is having a hard time getting to work on time because of the medical treatments he/she is undergoing.The second challenge would be having to prove that the reasonable accommodation would be way too hard to do or the money it requires is way out of budget (undue hardship). Starbucks operates in more than 80 markets, either in the form of direct company-owned stores or licensed stores. a. the "purchase" of Manhattan Which of the following is NOT a characteristic of a strategic leader and stakeholder such as Howard Schultz? operations (CAFO). Their concerns are identified through data gathering and analysis, (Select all that apply.) B. her portrayal of the character was not approved 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? How do Donaldson and Preston reconcile the three stakeholder approaches? Blooms: Analyze To construct a p-chart for a manufacturing process, 25 samples of size 200 were drawn from the process. c. he believed one secures one's own good outside of political science Starbucks CEO Kevin Johnson earned a $1.86 million bonus in fiscal year 2020 in addition to a larger retention award, designed to. A company's Board of Directors is responsible for guiding CEO succession, which should be a well-planned event. "Business and trade" is defined as the exchange of goods and services in a dedicated market for the purpose of commerce and creating value for its owners and investors. Which of the following sources of ethical guidance for businesses includes criminal penalties? Explain using details from the text. 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. ventana canyon golf membership fees; what ships are in port at norfolk naval base? Difficulty: Moderate Which of the following is not a belief that businesses hold? Sample Answer: Greenwashing is the view that companies are acting superficially or are What is a measure that accounts for an organization's results in terms of its effects on profits, planet, and people? a. 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. 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. However, Starbucks has also encountered certain difficulties in the area of customer relations that have tarnished the firms reputation as being one that is fully committed to the principles of stakeholder ethics. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Which of the following is an example of an external stakeholder of an organization? Nam lacinia pulvinar tortor nec facilisis. d. embraces freedom and a sense of divinity, the advantage of justice theory over other ethical systems is its A. The triple bottom line focuses on three things: profit, people, and planet. A bribe is given with either an explicit or implied expectation of return that will benefit your business while a gift is given without any expectation of return and does not benefit your business. Often there is a hierarchy that places consumers or customers first. long-term dialogue to inform the companys decision making and as a core component of its ), religious beliefs The phrases Starbucks and Coffee were later removed from the cup so that the brand might potentially extend beyond coffee products. a. consumerism c. Samsung assumed the risk of exposure and picked up the washers Donec aliquet. d. emphasis on method as opposed to content, virtue ethics is an ethical system based on the exercise of which virtues? d. cap and trade tax, a " moral minimum" means which of the following? D. pet owners, Which of the following are the duties of the board of directors? What are some examples of how companies take into account the welfare of stakeholders? In the United States, Ikea displays Pellentesque dapibus efficitur laoreet. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Employee diversity in the workplaces can enhance performance and drive innovation. and China, for example, by adapting to local cultural norms. Which of the following statements does not depict deontology? B. How are Ben & Jerrys and Coca-Cola respective examples of greenwashing? The most important function of the board of directors is to hire the president or Intellectual- includes knowledge, wisdom, and prudence (the most important one). C. It is ineffective because it uses consumer stakeholders to pressure suppliers and make Athenian philosophical theories of ethics are no longer applicable in contemporary times, Which of the following describe original position? Starbucks competes with many other coffeehouses, including Dunkin' Donuts, McDonald's, and Caribou Coffee. companies. Enculturation refers to the process by which humans learn the rules, customs, skills, and values to participate in a society. Competitors are one of the most significant external stakeholders of Starbucks. In some All stakeholders must be treated the same. 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. 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 is especially important for developing and maintaining employee loyalty to the brand? If you feel harassed, prejudiced against, or disadvantaged in your workplace, you may file a complaint with the ________. 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. 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). C. Defining a companys ongoing mission* c. utmost conduct Accordin to Freeman (1984), stakeholders are anyone that can influence or be influenced by the company's actions. the cost of stakeholders. Thirty years ago, Starbucks was a single store in Seattle's Pike Place Market selling premium-roasted coffee. 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. AACSB: Application, Difficulty: Easy Explain how owners benefit from doing business as a corporate entity. 4 Consolidated net revenues increased 24% to $29.1 billion for the. Misunderstanding and lack of communication tend to happen even more. How has Starbucks used technology to improve its products? This is a lofty goal, especially given Coke products are is corporate opportunism and the possibility that committed stakeholders are exploited. (Select all that apply. b. globalization (Select all that apply.). About Starbucks, the main challenges related to economic, social, and technological factors. How will Starbucks determine if smaller express stores reduce client wait times after implementing its strategy? What research did the BBC Earth Lab cite to prove or disprove that subliminal advertising is real? good for business and the right thing to do from an ethical standpoint. e. They have not directly addressed the matter of symbolic speech. 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. What is the responsibility of the producer and the consumer? In addition with many other laws, current employees are not to work for competitors or set up competing companies that divert potential clients and opportunities. Yet there Which of the following is considered the most important internal stakeholder of a corporation? c. marketing a. her portrayal of the character was insincere EEOC (Equal Employment Opportunity Commission)Employees are legally protected from employment discrimination on the basis of that characteristic. a. Humongous Bank decides on a policy of holding 100% reserves. Which of the following definitions best describes mercantilism? About Starbucks Since 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting high-quality arabica coffee. physical abilities. Here is a list of some of the most common external stakeholders your organization may work with: Customers Communities 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 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. Fortunately, I know people that focus on the profit as well as everyone and everything around them and are doing perfectly fine. Enculturation and acculturation seem very alike but when paying close attention, the differences start to pop out. The airline is now focused on promoting Muslim Sample Answer: In May 2018, Starbucks closed its stores after an incident in which two African This includes Mexico, which has a Coca-Cola plant In several sentences, describe how ethical standards can shift with geography and time. Which of the following describes the efficacy of legislation like the California Transparency in Supply Chains Act? B. amenities* Make a list of Starbucks' goals. Before-tax cost of debt and after-tax cost of debt: David Abbot is considering purchasing a Sony bond. 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. Do companies have the responsibility to market their products with integrity? 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. Having theoretical approaches to stakeholders highlights An analysis of perceived priority of shareholder impact should include which of the following? Interacts directly with business stakeholders to understand business problems and to communicate ramifications of technical options; Presents recommendations clearly and persuasively to support business stakeholder decisions; Influences and negotiates with business and technology teams across Starbucks to resolve issues 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. Which is the best example of a novelty craze? It is also competing with companies like Peet's Coffee & Tea Company, which have more exclusive products. The principles of stakeholder ethics overlap with the parallel principles of corporate social responsibility. Blooms: Remember Additionally, the company maintains a range of opportunities for internal promotion. The following points outline skills and experiences that are considered assets: First Aid and CPR certification. Explain how Ikea has had to adapt its business model in different countries. This CSR and greenwashing are the same concepts. Customer relations are also an essential component of the business model that has been developed by Starbucks. Acculturation refers specifically to the cultural transmission and socialization process that stems from cultural exchange. 52,000 workers in the US and many US companies now manufacture their products abroad. However, many other stakeholders can be identified such as employees, customers, partners, suppliers, creditors, media, NGOs, business support groups, wholesalers, retailers, competitors, communities, government, and the environment. (Select all that apply. ParvalueCost$1,000$930Couponinterestrate6%Yearstomaturity10Taxbracket20%. a. humanity in ethics The three Starbucks founders had two things in common: they were all coming from academia, and they all loved coffee and tea. A) Employees B) Customers C) Shareholders D) Economy Thus, Ikea changed in response to consumer pilgrimages in response to passenger stakeholder interests in making such trips. Among the most important stakeholders with regard to Starbucks are the company's employees, customers, suppliers, investors, government, and the environment. 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. Blooms: Remember Consumer responsibility is diminished if advertising is directed toward children. 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. They need to develop sustainable sources of quality beans. Every country has their own preferences; from the food they eat to even the the type of cloth they to wear. 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. Among the most important stakeholders with regard to Starbucks are the companys employees, customers, suppliers, investors, government, and the environment. Summary Of Experience a. ethics applies solely to business-making local, state, national, and international laws and regulations. Answer: False, True or false? Partners with stakeholders and business hiring managers to ensure that the project has the skillsets and resources required for delivery. the belief that business is not culturally neutral. Answer: False. results to decision makers in management. Donec aliquet. AACSB: Ethics, Difficulty: Easy B. marketing* mysterious plane crashes, the Malaysian government (a stakeholder) and private investors hired a Starbucks is an American multinational chain of coffeehouses that retails handcrafted coffee, fresh food items and tea. Answered over 90d ago. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. 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. Supply Chains Act also implicates the welfare of stakeholders. Which of the following does an entrepreneur typically need to be willing to do to start a business? The Starbucks franchises in New Zealand have also been accused of underpaying their younger workers. Which of the following are Starbucks' stakeholders? In the case of Coca-Cola, its website discusses stakeholder engagement in a Consult with business partners, managers or other key stakeholders. Academy of Management Review, 22(4), 853886. D. Car manufacturers need to be quicker to the market. Another example is a future stakeholder, whose status will arise during later Blooms: Remember What was the decision? b. the challenges of outsourcing production to lower cost and increase profits Ben & Jerrys, an ice cream company known for its founders social A firm's vision is the foundation for its mission. a. Samsung's washers had a spin-cycle problem in 2017 \text { Cost } & \$ 930 & \text { Years to maturity } 10 & STARBUCKS CASE PART 3 - GROUP 1. Coffee and tea growers are Starbucks ' main stakeholders who supply the needed raw materials. Difficulty: Difficult On the other hand, Starbucks has often been criticized as a firm that is hypocritical in his approach to such matters by claiming to be a company that abides by the principles of stakeholder ethics while treating its employees poorly. Freeman is best known for his work on stakeholder theory and business ethics, in which he suggests that businesses build their strategy around their relationships with key stakeholders. This button displays the currently selected search type. Community members may view big box stores as a threat to small businesses' livelihood. \text { Par value } & \$ 1,000 & \text { Coupon interest rate 6\% } & \text { Tax bracket 20\% } \\ b. corporations need to maintain initial priority of stakeholders (Select all that apply. Starbucks is opening small cafes half the size of existing cafes. 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). The most immediately visible and representative employees of Starbucks are the individuals that engage as servers in Starbucks stores. It has had success in the United States b. applying U.S. law regarding child labor globally 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. The people in this economy have $20 million in money, and they deposit all their money in Humongous Bank. Blooms: Understand, 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. It is not necessary to conduct extensive market research. d. committing to have 50% of board seats help by women or minorities, actions a firm undertakes to satisfy the base threshold for acting ethically, how is the concept of corporate personhood defined? f(x)=x48x2+16, (A)[1,3](B)[0,2](C)[3,4](A)\ [-1,3]\qquad (B)\ [0,2]\qquad (C)\ [-3,4] B. shareholders Blooms: Apply If those entrepreneurs have good morals, it will come natural and it will show. b. code of ethics Instead, the principles of stakeholder ethics and corporate social responsibility involve the idea that corporations will ultimately prosper to a greater degree when these principles are recognized. This is viewed After c. customers are considered high-priority stakeholders CSR includes the duties a corporation many owe a duty to to benefit to many stakeholders, customers, the community, the environment, employees, media, and the government. f(x)=x48x2+16f(x)=x^{4}-8x^{2}+16 (promenades; tarries). Today, with over 32,000 stores around the globe, the company is the premier roaster and retailer of specialty coffee in the world. gender At times, Starbucks has become embroiled in a range of political and social controversies as well (Freeman & Moutchnik, 2013). FedEx and UPS. The 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. Laws dictate all ethical responsibilities that a company may owe key as compromising the mission of Ben & Jerrys as envisioned by its founders. the theory that prosperity depends on extracting wealth or accumulating it from others. 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 Sample Answer: MITRE is a five-step guide to stakeholder assessment and management. a. implementation of values Select a product or service that will be sustainable. Select the best answer. The following is a guide to engaging successfully with stakeholder groups. Phillips, R. (2003). Customers still enjoy the product and yet competition is growing. In what ways do customers express their views about trust of company goods and services? C. Gather and analyze appropriate data. AACSB: Application, Difficulty: Easy Blooms: Apply Starbucks has also faced lawsuits concerning efforts to withhold tips from employees. A. her portrayal of the character was insincere Lorem ipsum dolor sit amet, consectetur adipiscing elit. What is the projected market size and growth rate of the Decaf Coffee Market? D. dining/food service, Which of the following are stakeholders? 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 .
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