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. social media, they are apt to speak up about their customer experience. Difficulty: Moderate Entrepreneurs can still remain ethical while focusing on profit because they can't afford to have people disliking them as well as creating drama. Describe what type of goal each is. AACSB: Application, Difficulty: Easy (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. D. dining/food service, Which of the following are stakeholders? Pay Range : $123,600- $193,200/ annually. This file is copyright 2019, Rice University. Also, a bribery is very unethical and can look bad for the business. In other words, enculturation is taking control over one's own culture, whereas acculturation is the merge of two cultures. AACSB: Analytical, Difficulty: Easy Global store sales increased 20% year-over-year, led by a strong 22% average increase in sales across all North American stores. c. ethics is the guiding principle for dealing with others Which of the following is changing the environment in which many of the world's industries compete? Pellentesque dapibus efficitur laoreet. 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As Starbucks, we can either choose to rise to this moment or stand idle. 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 Corporate Technology's BI & Analytics team works to achieve this . Draw a T-account for the bank. b. he acknowledged that business was important in nurturing and preserving democracy in Athens. A decision to be less Toward a theory of stakeholder identification and salience: Defining the principle of who and what really counts. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Accordin to Freeman (1984), stakeholders are anyone that can influence or be influenced by the company's actions. ), positive customer experiences Employee diversity in the workplaces can enhance performance and drive innovation. 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. 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). Lorem ipsum dolor sit amet, consectetur adipiscing elit. Which of the following are steps in the MITRE stakeholder process? Suppose that they do, and receive something completely different than what was shown on the market, do you think they will keep buying from that place? Establish trust. d. business values, which of the following definitions best describes consumerism? What is the responsibility of the producer and the consumer? 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. Starbucks then took the step to close its thousands of US stores to conduct racial bias stakeholder needs. Nam lacinia pulvinar tortor nec facilisis. Blooms: Apply A diverse workforce yields many positive outcomes for a company. Job Summary and Mission. Which of the following are Starbucks' stakeholders? have? AACSB: Real-world, Difficulty: Moderate 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. Which of the following is the lesson learned from the Edsel story? Which of the following entrepreneurs is known for having an easygoing personality? 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). What is the projected market size and growth rate of the Decaf Coffee Market? represents ethical stakeholder theory. B. amenities* All stakeholders must be treated the same. c. Citizens United Starbucks that would result in change to the issue of racism in America. Felix Madison has $10,000 worth of property damage insurance and a$1,000 deductible collision insurance policy. Starbucks set out on its current course in the 1980s . Operations Management questions and answers. D. stakeholder prioritization, Difficulty: Easy ), milk producers List and briefly describe the two types of virtues identified by Aristotle. even perhaps industry standards? reidentify stakeholders. Starbucks operates in more than 80 markets, either in the form of direct company-owned stores or licensed stores. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. coffee and tea growers. c. They have extended protections to only some forms of symbolic speech. These are standard stakeholders of almost every business that operates in the United States or overseas. Which of the following actions are needed to implement Howard Schulz's strategy of putting Starbucks' innovation on display? Solicit, evaluate and apply suggestions for improving efficiency and cost effectiveness. AACSB: Application. 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. Humongous Bank is the only bank in the economy. stakeholders. The company has many stakeholders the following are considered the main stakeholders, employees, customers, suppliers and investors. Observing the company's liquidity, Starbucks has around $2.6 billion in cash and short-term borrowing facilities of $3.5 billion. He had a tire blowout while driving and crashed into a $1,400 fire hydrant. c. utmost conduct B. urban and suburban communities* Fortunately, I know people that focus on the profit as well as everyone and everything around them and are doing perfectly fine. c. Assume that Humongous bank is part of a multibank system. Answer: False. Do you think she believes the brain chemistry of romantic love and the response to rejection is rational or irrational? : an American History (Eric Foner), Psychology (David G. Myers; C. Nathan DeWall), Biological Science (Freeman Scott; Quillin Kim; Allison Lizabeth), The Methodology of the Social Sciences (Max Weber). How are Ben & Jerrys and Coca-Cola respective examples of greenwashing? Maintain strategic stakeholder engagement by working alongside fellow Project Delivery teams, Senior Management and your customers delivery lead/function to identify strategic issues; Oversee the quality assurance of estimates or model within the function to ensure they are fit for purpose Therefore, some employees work for Starbucks to gain that status. Secondary stakeholders are media outlets, government, enviromentalist groups, and their competitors. Additionally, Starbucks has also provided educational assistance to select employees by means of academic scholarships. The main difference between a bribe and a gift is intent. d. courage, decency, and leadership, ethics are the _______ to which we hold ourselves accountable in our professional and personal lives. 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. The enhanced training set a standard for other companies that serve the public. b. ethical principles that apply everywhere despite differences in time, geography and culture Explain how the "triple bottom line" goes beyond the traditional goal of shareholder profit. To construct a p-chart for a manufacturing process, 25 samples of size 200 were drawn from the process. Blooms: Apply So many customers now . Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. this is an example of.. He has the following security-related information: Parvalue$1,000Couponinterestrate6%Taxbracket20%Cost$930Yearstomaturity10\begin{array}{llll} 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. A. milk producers* D. plastic-cover manufacturers, Which are some types of stakeholder relationships that a local chamber of commerce would AACSB: Ethics, Difficulty: Easy 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). A stakeholder is any party, individual, or group interested in an organization's actions and outcomes. Which of the following are factors included when applying a legal definition of diversity? Its normal and keeps things interesting in my opinion. 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. What CSR lesson did Starbucks convey when it closed its stores for a day? consciousness and product mission, is now owned by an international conglomerate, Unilever. Which of the following definitions best describes mercantilism? Laws dictate all ethical responsibilities that a company may owe key B. Supervising middle and senior management __ A program where students work on campus to earn money. In the end, it means being responsible to our stakeholders. A) Employees B) Customers C) Shareholders D) Economy 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? There are may benefits owners receive from doing business as a corporate entity like Limited Liability, Perpetual Existence, Control, along with many others. C. legislatures Certainly, Starbucks is a firm that contains or is associated with many kinds of stakeholders. Since the advent of C. It is ineffective because it uses consumer stakeholders to pressure suppliers and make Explain an employee's common law duty of loyalty to their employer. If those entrepreneurs have good morals, it will come natural and it will show. The following points outline skills and experiences that are considered assets: First Aid and CPR certification. Enacted in 1966, which of the following laws is the most important U.S. law forbidding cruelty to animals in laboratory settings? a. he viewed those outside economic and political circles as virtuous Blooms: Remember For ex. What is a "pay-to-pollute" system that charges a fee or tax to those who discharge carbon into the air? AACSB: Application, Difficulty: Easy OSX Ethics TB Ch03 Defining And Prioritizing Stakeholders, Chapter 3: Defining and Prioritizing Stakeholders, Difficulty: Easy Journal of Management, 34(6), 11521189. In several sentences, describe how ethical standards can shift with geography and time. c. marketing His expertise also extends to areas such as leadership, corporate responsibility and business strategy. 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. Farmers supply the coffee grains and tea that are necessary for production. influence suppliers working conditions. A trade secret is a form of intellectual property protection and is easier to The phrases Starbucks and Coffee were later removed from the cup so that the brand might potentially extend beyond coffee products. D. Car manufacturers need to be quicker to the market. This is viewed b. her portrayal of the character was not approved To uphold honorable standards of behavior. They c. a business owner's protection against loss of personal assets Explain how Ikea has had to adapt its business model in different countries. Pellentesque dapibus efficitur laoreet. Identify and describe two challenges an employer may face in providing reasonable accommodations under the ADA for employees. In Richard DeGeorge's humanities model, business ethics would prepare students to do certain specific things. One big issue access economy has is lack of regulations, especially when it comes to overseeing the products and services exchanged during the transaction. c. the Dakota land trade Managing and executing the strategy of a company the belief that business is not culturally neutral. business and sustainability strategies. 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. About Starbucks Since 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting high-quality arabica coffee. c. customers are considered high-priority stakeholders Q: Corporate-level strategy is best described as: a. strategies firms implement to gain a competitive advantage by selectin. Which intellectual, emotional, and social human trait affects all decision-making, including ethical decisions? b. carbon tax When expanded it provides a list of search options that will switch the search inputs to match the current selection. For the long term, business operations need to inculcate stakeholder Large corporations such as Deontology is often regarded as a "here and now" philosophy. Blooms: Remember 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. 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. be detrimental to a company. including surveys or social media, for example. In some CAFOs are condemned by animal rights activists as being harmful to the While Starbucks has demonstrated some level of commitment to the principles of Starbucks regarding labor relations and employee retention, it is also clear that certain problems remain as well. discrepancy is stark. A. her portrayal of the character was insincere Applying the big box store example from the chapter, which conflicts demonstrate that stakeholder claims vary? protect than a trademark or patent. \end{array} 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. f(x)=x48x2+16, (A)[1,3](B)[0,2](C)[3,4](A)\ [-1,3]\qquad (B)\ [0,2]\qquad (C)\ [-3,4] Starbucks primary stakeholders are their employees, customers, shareholders, investors, suppliers, coffee farmers, local communities, and other business partners. d. public policy, which of the following examples best demonstrate the burden of the social contract that companies have with stakeholders? companies. Managing and executing the strategy of a company, B. 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Clarkson; Roger LeRoy Miller; Frank B. . a. high-level manners a. courage, decorum, and accountability Many people now a days are very open-minded and whether you like it or not, it is just the reality of todays society. such as Yelp where customers share their good and bad experiences. Which of the following does an entrepreneur typically need to be willing to do to start a business? Answered over 90d ago. Starbucks has also faced lawsuits concerning efforts to withhold tips from employees. 16 & 14 & 9 & 11 & 15 & 8 & 12 & 16 & 17 & 13 & 15 & 10 & 9 \\ d. ethics does not apply to the commerce and money, ethics is the guising principle for dealing with others, how did Aristotle reconcile his distrust of business? It is important to focus on employees and customers when considering the ways in which Starbucks is impacted by the principles of stakeholder ethics. C. coffee and tea growers* This is a lofty goal, especially given Coke products are Blooms: Understand, Apply How do Donaldson and Preston reconcile the three stakeholder approaches? Donec aliquet. safeguard properties lawsuit 2017; syl johnson chad ochocinco father c. Samsung assumed the risk of exposure and picked up the washers 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? a. promising to earn less profit per share Urban and suburban communities 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 C. Stakeholder perceptions have a large impact on success. Identify shareholders. Most business organizations hold three different kinds of beliefs about themselves. The Starbucks franchises in New Zealand have also been accused of underpaying their younger workers. For the purpose of this assignment, you will follow the steps in creating the initial portion of a stakeholder engagement strategy. c. her portrayal of the character offended shareholders 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. Which of the following are Starbucks' stakeholders? Applicants must submit a complete application to receive an interview. FedEx and UPS. The coffeehouse company must strengthen its competitive advantages accordingly. B. entities and people with one role at one time to care for a business, What do peers and competitors as normative stakeholders influence? Which of the following statements does not depict deontology? Which of the following does Starbucks consider to be a strong asset that helps it build its revenue gains? A. chief legal officer Sample Answer: In May 2018, Starbucks closed its stores after an incident in which two African 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. Make a list of Starbucks' goals. 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? It is important for executives to interact with outside-environment stakeholders a. pollution tax C. chief executive officer* C. Defining a companys ongoing mission* In the United States, Ikea displays A. industry norms* In the Supreme Court ruling Citizens United v. Federal Election Commission, which Amendment was at the center of the case? Answer: True, True or false? consumed by 20% of the worlds population. C. Gather and analyze appropriate data. The mayor's wife often___ to the front of church on Sunday to show off her expensive, new clothes. Answer: True, True or false? d. embraces freedom and a sense of divinity, the advantage of justice theory over other ethical systems is its ), True or false? ), religious beliefs a. business should behave ethically, focusing only on environmentalism essence of Stouts view is concern that shareholders may want to maximize their investment at For that law, companies are. It also changed its policy of allowing noncustomers to visit its stores and use restrooms. Donec aliquet. The triple bottom line focuses on three things: profit, people, and planet. A firm's vision is the foundation for its mission. Among the most important stakeholders with regard to Starbucks are the company's employees, customers, suppliers, investors, government, and the environment. 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. a. milk producers Coffee and tea growers are Starbucks ' main stakeholders who supply the needed raw materials. 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. b. means supporting dogmatic rationality Which of the following are Starbucks' stakeholders? b. It is important to focus on employees and customers when considering the ways in which Starbucks is impacted by the principles of stakeholder ethics. 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. d. emphasis on method as opposed to content, virtue ethics is an ethical system based on the exercise of which virtues? The main reason for forming a corporation is to limit the liability of the owners. (Select all that apply.) How has Starbucks used technology to improve its products? Which of the following are Starbucks' stakeholders? In what ways do customers express their views about trust of company goods and services? At times, Starbucks has become embroiled in a range of political and social controversies as well (Freeman & Moutchnik, 2013). Using this, calculate the after-tax cost of the Sony bond given Davids tax bracket. Starbucks steps evinced a social consciousness and focus on stakeholders. Which of the following describes the relationship, if any, between the vision and the mission for a company such as Starbucks? All stakeholders must be treated the same. Of course companies have the responsibility to market their products with integrity because without them, the business would be no where. company. (Select all that apply.) Nam lacinia pulvinar tortor nec facilisis. 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 . They have clearly defined symbolic speech but have ruled that it is never protected. Which of the following describes the efficacy of legislation like the California Transparency in Supply Chains Act? The airline is now focused on promoting Muslim stakeholders that their concern was taken into consideration and will continue to be valued. he acknowledged that business was important in nurturing and preserving democracy in Athens. (Select all that apply.) Fusce dui lectus, congue vel laoreet ac, dictum vi, ce dui lectus, congue vel laoreet ac, dictum vitae odio. Some ads exaggerate or distort what goods or services deliver. c. environmental tax For the fiscal year 2022, group revenue increased by 55 per cent to $1.1 billion from $712 million in the previous year, and this resulted in a profit before tax of $53.7 million compared to a .