Toward a theory of stakeholder identification and salience: Defining the principle of who and what really counts. On one hand, Starbucks is frequently praised as a company that is committed to corporate social responsibility and stakeholder ethics when it comes to labor relations (Miles, 2012). a. community gender AACSB: Application. a. courage, decorum, and accountability CSR ensures that a company is engaging in sound ethical practices and policies in accordance with the company's culture and mission, above and beyond any mandatory legal standards. company. Of course companies have the responsibility to market their products with integrity because without them, the business would be no where. Nam lacinia pulvinar tortor nec facilisis. Managing and executing the strategy of a company True or False: The environment is not considered a stakeholder, True or False: Goodwill . a. business should behave ethically, focusing only on environmentalism All stakeholders must be treated the same. This file is copyright 2019, Rice University. Starbucks prioritizes employees in its corporate social responsibility efforts. a. an enumerated power listed in the constitution in the Bill of Rights Blooms: Analyze As for ethical duties, they are standards based on human principles of right from wrong. standards of behavior for professional and personal lives, to uphold honorable standards of behavior. Bonus Eligible : Yes. Summary Of Experience How much will money supply increase with that original loan of $19 million? A. industry norms* d. They have ruled that symbolic speech is always protected. Consider Fisher's remarks in the last two paragraphs. Humongous Bank is the only bank in the economy. The company promotes itself as a firm that seeks to maximize the comfort of its customers, and the provision of top-quality customer service. Explain how owners benefit from doing business as a corporate entity. Yet there In a short paragraph, explain how entrepreneurs can still remain ethical while focusing on profit. Also, Starbucks faced the challenge of technology. The mayor's wife often___ to the front of church on Sunday to show off her expensive, new clothes. Enculturation refers to the process by which humans learn the rules, customs, skills, and values to participate in a society. Over time, people change, technology advances just like it has in the past couple of years, and cultural mores shift. Pay Range : $123,600- $193,200/ annually. Answer: False, True or false? Ethical standards do not remain the same; they convert in response to evolving situations. and China, for example, by adapting to local cultural norms. urban and suburban communities They have clearly defined symbolic speech but have ruled that it is never protected. a. milk producers celebrated coffee and the rich tradition, but that also brought a feeling of connection. It is in a business's best interest to promote human flourishing within the organization by providing ________. AACSB: Application, Difficulty: Moderate The following points outline skills and experiences that are considered assets: First Aid and CPR certification. B. Supervising middle and senior management Which of the following are steps in the MITRE stakeholder process? 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. physical abilities. b. Pellentesque dapibus efficitur laoreet. What research did the BBC Earth Lab cite to prove or disprove that subliminal advertising is real? d. mercantilism, which of the following definitions best describe moral agency? this is an example of.. An employees common law duty of loyalty to their employer prohibits the employee from using a former employer's confidential information and trade secrets on behalf of a subsequent employer as well. discrepancy is stark. new CEO with a tourism background. 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. * Which of the following describes the efficacy of legislation like the California Transparency in Supply Chains Act? Another example is a future stakeholder, whose status will arise during later They need to develop sustainable sources of quality beans. b. means supporting dogmatic rationality ), positive customer experiences Nam lacinia pulvinar tortor nec facilisis. (promenades; tarries). Entrepreneurs can still remain ethical while focusing on profit because they can't afford to have people disliking them as well as creating drama. good for business and the right thing to do from an ethical standpoint. b. corporations need to maintain initial priority of stakeholders Laplume, A., Karan, S. & Litz, R. (2008). Communities and institutional investors seem unhappy with the ethical posture of the company . d. embraces freedom and a sense of divinity, the advantage of justice theory over other ethical systems is its Enculturation and acculturation seem very alike but when paying close attention, the differences start to pop out. Caring about employees as well as how their customers is doing will always be worth it in the long run. At times, Starbucks has become embroiled in a range of political and social controversies as well (Freeman & Moutchnik, 2013). 16 & 14 & 9 & 11 & 15 & 8 & 12 & 16 & 17 & 13 & 15 & 10 & 9 \\ Answered over 90d ago. 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. Kroger take into account their suppliers, which include farmers. This incident caused a global Which of the following does Starbucks consider to be a strong asset that helps it build its revenue gains? Identify shareholders. b. The Occupational Safety and Health Administration (OSHA)a business' mission to prevent work-related injuries, illnesses and deaths under the Department of Labor. Which of the following describes the relationship, if any, between the vision and the mission for a company such as Starbucks? Difficulty: Difficult b. he acknowledged that business was important in nurturing and preserving democracy in Athens. A. 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. Lorem ipsum dolor sit amet, consectetur adipiscing elit. 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. 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. Deontology is often regarded as a "here and now" philosophy. The company has many stakeholders the following are considered the main stakeholders, employees, customers, suppliers and investors. 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". Q: Corporate-level strategy is best described as: a. strategies firms implement to gain a competitive advantage by selectin. In some AACSB: Application, Difficulty: Easy A. minority- and women-owned small business owners* The crash caused$1,600 in damages to his car. 4 Consolidated net revenues increased 24% to $29.1 billion for the. True or false? a positive bottom line. b. the doctrine that a corporation has some of the same legal rights and responsibilities enjoyed by natural persons Many baristas have eventually become managers and worked their way up into higher positions within management (Mitchell, Agle, & Wood, 1997). Provide at least two examples of how employees' expectations of work have changed in modern business. For that law, companies are. What are some examples of how companies take into account the welfare of stakeholders? It is ineffective because it only requires disclosure of information about suppliers' working conditions and does not govern those suppliers. Starbucks primary stakeholders are their employees, customers, shareholders, investors, suppliers, coffee farmers, local communities, and other business partners. Coffee producers are a major stakeholder for Starbucks because the firm has staked its reputation on high quality coffee. a. ethics applies solely to business-making 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. Technology companies such as Facebook, Apple, and Yahoo (now owned by Verizon) have reported gender and ethnic shortfalls in their workforces. The California Transparency in welfare for two reasons: It is good for business and the right thing to do. In the United States, Ikea displays Another concern that has been raised by Starbucks employees involves the issue of job security and insecurity of hours. c. They have extended protections to only some forms of symbolic speech. business and sustainability strategies. Protected classes are created by both federal and state law. D. compensation. Also, it is crucial that the company inform Which of the following is not an example of a diffused shareholder? d. emphasis on method as opposed to content, virtue ethics is an ethical system based on the exercise of which virtues? 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. Blooms: Understand A. milk producers* B. urban and suburban communities* C. coffee and tea growers* D. plastic-cover manufacturers Select the best answer. a. honesty and integrity b. virtue ethics and utilitarianism c. loyalty to management d. respect for business diversity honesty and integrity True or False: The environment is not considered a stakeholder false The entitlement of the environment to legal status is a long-argued If corporations use social responsibilities, it is more likely they will be successful. Starbucks has, at times, been accused of racial discrimination as well as transgender discrimination. (A)[1,3](B)[0,2](C)[3,4]. The airline is now focused on promoting Muslim a. the "purchase" of Manhattan It is important for executives to interact with outside-environment stakeholders such as media and government. 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. \text { Cost } & \$ 930 & \text { Years to maturity } 10 & (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. Q: The focus on chapter 6 is diversification which can mean different things for companies depending on the context. Some prioritization is particular to Ben & Jerrys, an ice cream company known for its founders social Journal of Management, 34(6), 11521189. a. consumerism that uses billions of liters of water in a community where many people are without water. It must determine which are Which of the following does Starbucks consider to be a strong asset that helps it build its revenue gains? Freeman, R. E. & Moutchnik, A. Stakeholder theory: Reviewing a theory that moves us. Urban and suburban communities 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? A trade secret is a form of intellectual property protection and is easier to Mellody Hobson, Starbucks Board of Directors chair, joined Kevin Johnson, president and chief executive officer, for opening remarks following today's news that Johnson made the personal decision to retire from . Defectives16121414911118157812121516917161313151110109. 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? B. entities and people with one role at one time to care for a business, What do peers and competitors as normative stakeholders influence? 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: Apply Milk, which is a main ingredient of the ice cream, is often sourced from confined-animal feeding We are, therefore, The people in this economy have $20 million in money, and they deposit all their money in Humongous Bank. (Select all that apply.) Make a list of Starbucks' goals. 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. His expertise also extends to areas such as leadership, corporate responsibility and business strategy. uproar. 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. Furthermore, there is Additionally, the company maintains a range of opportunities for internal promotion. 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. 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. Answered over 90d ago. Supply Chains Act also implicates the welfare of stakeholders. systemic ethics problems. f(x)=x48x2+16f(x)=x^{4}-8x^{2}+16 From the beginning, Starbucks set out to be a different kind of company. Job Summary and Mission. It is important for executives to interact with outside-environment stakeholders d. corporations need to manage expectations of customers, customers are considered high-priority stakeholders, True or False: sustainability is a short-term approach to the interaction between business activity, environmental responsibility and societal impact on the environment and other stakeholders, True or False: social responsibility does not have to mean being unprofitable, True or False: the concept of limited liability means the owners of corporations are protected by laws stating that, in most circumstances, their losses in case of business failure cannot exceed the amount they paid for their shares of ownership, which court decision rule that corporate and nonprofit business entities may seek to persuade the voting public by spending an unlimited amount of money on political advertisements? c. business should behave ethically, being responsible to all stakeholders B. In several sentences, describe one ethical draw-back of job-sharing. D. Present information to the board of directors. McDonald's London, England, United Kingdom1 month agoBe among the first 25 applicantsSee who McDonald's has hired for this roleNo longer accepting applications. Its normal and keeps things interesting in my opinion. Blooms: Understand, Apply FedEx and UPS, two of the largest shipping companies in the world, have both stopped sending shipments to Russia. Answer: False, True or false? Berrett-Koehler Publishers. They When it comes to paying their "duties" to society, a corporation can do that by donating to places that need it or by using eco-friendly products. Which of the following are well-documented outcomes? Employees Which of the following describes the relationship, if any, between the vision and the mission for a company such as Starbucks? It also changed its policy of allowing noncustomers to visit its stores and use restrooms. A. entities and people invested and influential in the success of an organization* It is also competing with companies like Peet's Coffee & Tea Company, which have more exclusive products. 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). Observing the company's liquidity, Starbucks has around $2.6 billion in cash and short-term borrowing facilities of $3.5 billion. Blooms: Analyze, Evaluate Which of the following definitions best describes mercantilism? (Select all that apply.). Explain Lynn Stouts view of the role of shareholders and the implication for stakeholder a. he viewed those outside economic and political circles as virtuous D. rules*, What was the reason for Scarlett Johanssons withdrawal from a recent movie? Henry Ford must operate Ford Motor Company primarily to maximize profit for its shareholders. Maybe complaining online or in customer service reviews would be Blooms: Evaluate How does a corporation prioritize stakeholder claims? After C. environmental agencies P3-1. What is the ethical issue behind issuing disaster insurance? OSX Ethics TB Ch03 Defining And Prioritizing Stakeholders, Chapter 3: Defining and Prioritizing Stakeholders, Difficulty: Easy Sample Answer: In May 2018, Starbucks closed its stores after an incident in which two African Blooms: Application consciousness and product mission, is now owned by an international conglomerate, Unilever. Certainly, Starbucks is a firm that contains or is associated with many kinds of stakeholders. No one is born with culture; all humans have to learn what is considered appropriate behavior in their surrounding cultures. Fu, itur laoreet. AACSB: Ethics, Difficulty: Easy In what ways do customers express their views about trust of company goods and services? Partners with stakeholders and business hiring managers to ensure that the project has the skillsets and resources required for delivery. Capitalism, corporations and the social contract: A critique of stakeholder theory. Starbucks set out on its current course in the 1980s . even perhaps industry standards? training. AACSB: Reflection, Application, Difficulty: Difficult a. pollution tax And there are two types of stakeholders, including the primary and seconday stakeholders ( Clarkson, 1995). Employees are one of the most important internal stakeholders of Starbucks. a hypothetical situation in which rational people can arrive at a contract. C. coffee and tea growers* Blooms: Remember This includes race, color, religion, national origin or ancestry, sex and so on. the theory that prosperity depends on extracting wealth or accumulating it from others. Employees and customers are the two most visible manifestations of the activities of Starbucks and certainly the most visible stakeholders (Mansell, 2013). consumed by 20% of the worlds population. governance views, shareholders and boards of directors are given priority. Which of the following are Starbucks' stakeholders? 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? Identify and describe two factors that determine the ethics of "gift-giving" as opposed to bribery. 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. Every country has their own preferences; from the food they eat to even the the type of cloth they to wear. Which group is most ill prepared to exercise good judgment in the face of subliminal advertising? via the notion of what constitutes necessity as opposed to luxury. ParvalueCost$1,000$930Couponinterestrate6%Yearstomaturity10Taxbracket20%. Donec aliquet. Which of the following does an entrepreneur typically need to be willing to do to start a business? 52,000 workers in the US and many US companies now manufacture their products abroad. Do companies have the responsibility to market their products with integrity? Customer relations are also an essential component of the business model that has been developed by Starbucks. AACSB: Ethics, Application. A normative approach views stakeholders as ends in themselves rather Lorem ipsum dolor sit, s ante, dapibus a molestie consequat, ultrices ac magna. AACSB: Ethics, Application, Difficulty: Moderate Stakeholder theory and organizational ethics. Thornton & Ross, part of the Stada group, are one of the UK's fastest-growing, leading producers of household pharmaceutical products & own some of the country's most loved brands such as Covonia, Hedrin, Cetraben as well as the leading disinfectant Zoflora. Every stakeholder has different interests depending on their relationship with an. b. the challenges of outsourcing production to lower cost and increase profits Which seven-step guidelines are designed to help organizations with compliance and reporting? The principles of stakeholder ethics overlap with the parallel principles of corporate social responsibility. AACSB: Application, Real-world. 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. About Path Since its foundation in 1984, PATH (People Assisting The Homeless) has pioneered bold and effective approaches to assist people experiencing homelessness. local, state, national, and international laws and regulations. Which commercial transaction in the New World exemplifies the complexity that results when different cultures, experiences, and ethical codes come into contact? Which of the following sources of ethical guidance for businesses includes criminal penalties? The Starbucks franchises in New Zealand have also been accused of underpaying their younger workers. A company must identify and * (a) What is Friar Lawrence's plan for Juliet? Pellentesque dapibus efficitur laoreet. mysterious plane crashes, the Malaysian government (a stakeholder) and private investors hired a d. he thought money should only be allowed for those in trades. Having theoretical approaches to stakeholders highlights d. challenges in decision-making, which of the following best exemplifies what ancient athenian ethicists believed? Select the best answer. A. 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. This includes Mexico, which has a Coca-Cola plant (Select all that apply.) There are also organizations. Therefore, some employees work for Starbucks to gain that status. Labor union membership remains much higher in Europe and other Group of Seven countries than in the United States, in part because some of those countries allow managers to be members of the union. This is viewed (Select all that apply.) Journal of Business Ethics, 108(3), 285298. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. ), religious beliefs The shippers have also announced the suspension of both . No.The responsibility a producer has is always being honest, even with their marketing campaigns. It has had success in the United States Blooms: Remember a. high-level manners There are may benefits owners receive from doing business as a corporate entity like Limited Liability, Perpetual Existence, Control, along with many others.