Thus, Ikea changed in response to consumer c. Assume that Humongous bank is part of a multibank system. systemic ethics problems. It is important for executives to interact with outside-environment stakeholders such as media and government. What has unfolded at Starbucks is anything but. Explain Lynn Stouts view of the role of shareholders and the implication for stakeholder A lot of business' only focus on how much profit or loss their company has when they should also take into account on how their employees are doing and on the impact their business has on the economy. 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. Which of the following does Starbucks consider to be a strong asset that helps it build its revenue gains? Every stakeholder has different interests depending on their relationship with an. In several sentences, describe one ethical draw-back of job-sharing. An ethical financial advisor must ________. b. courage, honor, and loyalty D. dining/food service, Which of the following are stakeholders? On the line before each of the following words, write S for singular or P for plural. Too Short! a. promising to earn less profit per share 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? Nam risus ante, dapibus a molestie consequat, ultrices ac magna. It also changed its policy of allowing noncustomers to visit its stores and use restrooms. 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. AACSB: Application, Difficulty: Difficult In the Supreme Court ruling Citizens United v. Federal Election Commission, which Amendment was at the center of the case? d. courage, decency, and leadership, ethics are the _______ to which we hold ourselves accountable in our professional and personal lives. (Select all that apply. even perhaps industry standards? AACSB: Real-world, C. greenwashing By having people from different races, genders, religion, and so on, those businesses are proven to outperform othersAlso, adhering to the traditional business practices of the past can cost them talented employees and loyal customers. Stakeholder management and CSR: Questions and answers. Blooms: Remember The main difference between a bribe and a gift is intent. Ben & Jerrys, an ice cream company known for its founders social Starbucks is an American multinational chain of coffeehouses that retails handcrafted coffee, fresh food items and tea. Shippers. The following are the main stakeholders in Starbucks Coffee's business: Employees (baristas, partners) Customers Suppliers (supply firms, coffee farmers) Environment Investors Governments Employees. Financial Analysis of PUMA and Nike, Inc. Starbucks Stakeholders: Employees and Customers. Which of the following are Starbucks' stakeholders? An analysis of perceived priority of shareholder impact should include which of the following? (Select all that apply.) A. minority- and women-owned small business owners* Has opportunity to lead a team. Today, Starbucks hosted its 30 th annual meeting of shareholders virtually. Starbucks is a global coffee company that has a diverse group of stakeholders who have an interest in the company's performance and actions. Answer: True, True or false? Its normal and keeps things interesting in my opinion. (Select all that apply.) Community members may view big box stores as a threat to small businesses' livelihood. Answer: False, True or false? Managing and executing the strategy of a company, B. Supervising middle and senior management, D. Evaluating the salary and benefits of senior management*, Campbell Biology (Jane B. Reece; Lisa A. Urry; Michael L. Cain; Steven A. Wasserman; Peter V. Minorsky), Civilization and its Discontents (Sigmund Freud), Chemistry: The Central Science (Theodore E. Brown; H. Eugene H LeMay; Bruce E. Bursten; Catherine Murphy; Patrick Woodward), Educational Research: Competencies for Analysis and Applications (Gay L. R.; Mills Geoffrey E.; Airasian Peter W.), Forecasting, Time Series, and Regression (Richard T. O'Connell; Anne B. Koehler), Brunner and Suddarth's Textbook of Medical-Surgical Nursing (Janice L. Hinkle; Kerry H. Cheever), Principles of Environmental Science (William P. Cunningham; Mary Ann Cunningham), Business Law: Text and Cases (Kenneth W. Clarkson; Roger LeRoy Miller; Frank B. The After It is not necessary to conduct extensive market research. D. Present information to the board of directors. Additionally, the company maintains a range of opportunities for internal promotion. Which of the following are Starbucks' stakeholders? a. courage, decorum, and accountability Nam lacinia pulvinar tortor nec facilisis. Blooms: Apply chief executive officer. D. compensation. For the long term, business operations need to inculcate stakeholder Also, Starbucks faced the challenge of technology. Nam lacinia pulvinar tortor nec facilisis. B. shareholders such as media and government. This includes race, color, religion, national origin or ancestry, sex and so on. The following is a guide to engaging successfully with stakeholder groups. B. marketing* changes. essence of Stouts view is concern that shareholders may want to maximize their investment at (Select all that apply.) Defectives16149111581216171315109121411871215916131110\begin{aligned} 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. Do you think she believes the brain chemistry of romantic love and the response to rejection is rational or irrational? protect than a trademark or patent. A trade secret is a form of intellectual property protection and is easier to Take airbnb for example, accommodations are not inspected while in a hotel, they are. Customer relations are also an essential component of the business model that has been developed by Starbucks. 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Nam risus ante, dapibus a molestie consequat, ultrices ac magna. c. business should behave ethically, being responsible to all stakeholders 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. Which of the following does an entrepreneur typically need to be willing to do to start a business? (Select all that apply.) Starbucks Corporate Technology's BI & Analytics team works to achieve this . As for ethical duties, they are standards based on human principles of right from wrong. via the notion of what constitutes necessity as opposed to luxury. A) Employees B) Customers C) Shareholders D) Economy Sample Answer: MITRE is a five-step guide to stakeholder assessment and management. The company has. Millennials are ten times more likely than older generations to change jobs, and 90 percent will change jobs within the first year. 4 Consolidated net revenues increased 24% to $29.1 billion for the. 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 This file is copyright 2019, Rice University. Consumers are demanding more than "product" from their favorite brands. How are Ben & Jerrys and Coca-Cola respective examples of greenwashing? Kroger take into account their suppliers, which include farmers. List and briefly describe the three normative theories of ethics. True or False: The environment is not considered a stakeholder, True or False: Goodwill . How can entrepreneurs best ensure their customer-service vision is passed on to employees? Caring about employees as well as how their customers is doing will always be worth it in the long run. Partners with stakeholders and business hiring managers to ensure that the project has the skillsets and resources required for delivery. Once data are validated, managers present the One big issue access economy has is lack of regulations, especially when it comes to overseeing the products and services exchanged during the transaction. (b) Analyze: Why do you think Juliet trusts the Friar? 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. 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. a. Samsung's washers had a spin-cycle problem in 2017 represents ethical stakeholder theory. B. 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. The traditional approach to business ethics that has been championed by many corporate leaders echoes the sentiments of the late Nobel Laureate economist Milton Friedman, who famously stated that corporations ultimately have no ethic responsibilities other than to increase the value of the corporation for shareholders. C. legal compliance* D. Car manufacturers need to be quicker to the market. Enculturation and acculturation seem very alike but when paying close attention, the differences start to pop out. Quality Glossary Definition: Stakeholder. Defectives16121414911118157812121516917161313151110109. OSX Ethics TB Ch03 Defining And Prioritizing Stakeholders, Chapter 3: Defining and Prioritizing Stakeholders, Difficulty: Easy 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. a. pollution tax Summary. influence suppliers working conditions. Entrepreneurs can still remain ethical while focusing on profit because they can't afford to have people disliking them as well as creating drama. The people in this economy have $20 million in money, and they deposit all their money in Humongous Bank. C. It is ineffective because it uses consumer stakeholders to pressure suppliers and make focused on stakeholders, and perhaps instead concentrated on consumers or shareholders, could a hypothetical situation in which rational people can arrive at a contract. Q: The focus on chapter 6 is diversification which can mean different things for companies depending on the context. Also, the manager of a company's ethical duty is to hire people that seems best for the job and not based on the color of their skin. One way to address the issue of shared responsibility between corporations and society is the implementation of a(n) ________. Starbucks Coffee Company supports its competitive advantages through the characteristics of its corporate structure. which are the universal principles of behavior? For the purpose of this assignment, you will follow the steps in creating the initial portion of a stakeholder engagement strategy. Stakeholders: Essentially contested or just confused? welfare for two reasons: It is good for business and the right thing to do. C. legislatures Select the best answer. Customers still enjoy the product and yet competition is growing. Answer: False. "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. AACSB: Analytical, Difficulty: Moderate c. the freedom and ability to make choices based on one's perception of right and wrong c. media c. her portrayal of the character offended shareholders 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. Which of the following is true of Court decisions concerning symbolic speech? company. Observing the company's liquidity, Starbucks has around $2.6 billion in cash and short-term borrowing facilities of $3.5 billion. being committed to ethical business practices. d. They have ruled that symbolic speech is always protected. How can you explain the range of mixed economies in the world? (Select all that apply.) CAFOs are condemned by animal rights activists as being harmful to the Starbucks then took the step to close its thousands of US stores to conduct racial bias The three Starbucks founders had two things in common: they were all coming from academia, and they all loved coffee and tea. Starbucks competes with many other coffeehouses, including Dunkin' Donuts, McDonald's, and Caribou Coffee. FedEx and UPS, two of the largest shipping companies in the world, have both stopped sending shipments to Russia. Some prioritization is particular to Which of the following are Starbucks' stakeholders? In Richard DeGeorge's humanities model, business ethics would prepare students to do certain specific things. c. the Dakota land trade A company's Board of Directors is responsible for guiding CEO succession, which should be a well-planned event. Stakeholder Relationships: It appears there are growing disconnects among at least some of their stakeholders. Blooms: Understand 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. Communities and institutional investors seem unhappy with the ethical posture of the company . AACSB: Application. which are the universal principles of behavior? 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. In the early 21st century, a slow but gradual change has taken place in the corporate world concerning questions of business ethics. Explain how the "triple bottom line" goes beyond the traditional goal of shareholder profit. 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. B. local and regional governments* 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. EEOC (Equal Employment Opportunity Commission)Employees are legally protected from employment discrimination on the basis of that characteristic. Starbucks that would result in change to the issue of racism in America. True or false? Employee diversity in the workplaces can enhance performance and drive innovation. From just a narrow storefront, Starbucks offered some of the world's finest fresh-roasted whole bean coffees. Draw a T-account for the bank after this first round of loans has been made. 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. 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. the challenges of outsourcing production to lower cost and increase profits true or false: culture and ethics cannot be separated, because ethical norms have been established over time by and make sense to, people who share the same background, language, and customs. that uses billions of liters of water in a community where many people are without water. ), Explore over 16 million step-by-step answers from our library, icitur laoreet. 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. b. the Dutch and Native American trade 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. D. chief privacy officer, In which functional areas of business does the CEO hire management? Business ethics exists on which of the following three levels? Blooms: Analyze Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Which of the following are considered intellectual virtues? (Select all that apply. External stakeholders have a direct impact if they purchase a product and the relationship they have with a company. 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. When expanded it provides a list of search options that will switch the search inputs to match the current selection. This is a lofty goal, especially given Coke products are B. Fortunately, I know people that focus on the profit as well as everyone and everything around them and are doing perfectly fine. The airline is now focused on promoting Muslim Difficulty: Difficult Enculturation refers to the process by which humans learn the rules, customs, skills, and values to participate in a society. Which. d. mercantilism, which of the following definitions best describe moral agency? d. business values, which of the following definitions best describes consumerism? 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. Starbucks is opening small cafes half the size of existing cafes. b. globalization
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