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. A decision to be less protect than a trademark or patent. CSR and greenwashing are the same concepts. Which of the following is a resource made available to employees, in addition to salary? Fu, itur laoreet. b. corporations need to maintain initial priority of stakeholders List and briefly describe the two types of virtues identified by Aristotle. c. a business owner's protection against loss of personal assets All stakeholders must be treated the same. Solicit, evaluate and apply suggestions for improving efficiency and cost effectiveness. (Select all that apply. He had a tire blowout while driving and crashed into a $1,400 fire hydrant. A. milk producers* Once data are validated, managers present the d. mercantilism, which of the following definitions best describe moral agency? a. pollution tax If corporations use social responsibilities, it is more likely they will be successful. beds, which is acceptable in that culture. Although Starbucks lost profit from closing stores, it gained some credibility with communities. U.S. firms and their employees are allowed to use bribery in other countries if allowed by local legal and cultural differences. Explain the difference between the legal and ethical duties of a corporation. 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. 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? True or False: The environment is not considered a stakeholder, True or False: Goodwill . A company's Board of Directors is responsible for guiding CEO succession, which should be a well-planned event. d. he thought money should only be allowed for those in trades. 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. Sample Answer: Customers are articulate about their views of a company. Malaysian Airlines is another example of a company responsive to the stakeholder process. Which of the following is the lesson learned from the Edsel story? What CSR lesson did Starbucks convey when it closed its stores for a day? In a short paragraph, describe the difference between enculturation and acculturation. 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. . Blooms: Apply 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. The California Transparency in Make a list of Starbucks' goals. In the case of Coca-Cola, its website discusses stakeholder engagement in a It is important for executives to interact with outside-environment stakeholders 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. Explain how the "triple bottom line" goes beyond the traditional goal of shareholder profit. Consequently, the argument is made that corporations should aspire to be good corporate citizens that demonstrate care for the full range of stakeholders that are impacted by their activities. Many people in the UK will have a product from Thornton & Ross somewhere at home. uproar. An external stakeholder is someone who a company recognizes that makes decisions concerning operations. AACSB: Application, Difficulty: Difficult Utilitarianism (the first normative approach to)- an ethical action is one whose consequence achieves the greatest good for the greatest number of people. c. methodology for arriving at the truth I say this because with many different opinions being thrown in the air, being on the same boat is not the easiest thing. (Select all that apply.) Answer: False, True or false? Which commercial transaction in the New World exemplifies the complexity that results when different cultures, experiences, and ethical codes come into contact? In the Supreme Court ruling Citizens United v. Federal Election Commission, which Amendment was at the center of the case? A. milk producers* B. urban and suburban communities* C. coffee and tea growers* D. plastic-cover manufacturers Which is the primary law prohibiting religious discrimination in the private sector workplace? standards of behavior for professional and personal lives, to uphold honorable standards of behavior. c. ethics is the guiding principle for dealing with others the same as information from trusted adults, What are some ethical concerns about advertising? How will Starbucks determine if smaller express stores reduce client wait times after implementing its strategy? changes. D. It is effective because it expects NGOs, state governments, and political action committees to the theory that prosperity depends on extracting wealth or accumulating it from others. Which of the following best describes information that has economic value because it is not generally known to the public and is kept secret by reasonable means? 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. If you feel harassed, prejudiced against, or disadvantaged in your workplace, you may file a complaint with the ________. FedEx and UPS. 12 & 14 & 11 & 8 & 7 & 12 & 15 & 9 & 16 & 13 & 11 & 10 & AACSB: Application, Real-world. There is a growing recognition of the need for corporate accountability. Which of the following are steps in the MITRE stakeholder process? Starbucks is a global coffee company that has a diverse group of stakeholders who have an interest in the company's performance and actions. Starbucks Coffee Company supports its competitive advantages through the characteristics of its corporate structure. normative, descriptive, and instrumental approaches. influence suppliers working conditions. Also, a bribery is very unethical and can look bad for the business. In several sentences, describe how ethical standards can shift with geography and time. b. Samsung's warned customers that the machines could tip over Before-tax cost of debt and after-tax cost of debt: David Abbot is considering purchasing a Sony bond. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Toward a theory of stakeholder identification and salience: Defining the principle of who and what really counts. 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 Blooms: Remember Draw a T-account for the bank after this first round of loans has been made. 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. premise by lawyers and legal-aid groups. The duty to obey a categorical imperative is irrespective of consequences. 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 . A. minority- and women-owned small business owners* The main reason for forming a corporation is to limit the liability of the owners. B. urban and suburban communities* c. coffee and tea growers Sample Answer: Greenwashing is the view that companies are acting superficially or are Consequently, the ways in which Starbucks engages with these two groups of stakeholders is a significant reflection on the corporations approach to stakeholder concerns on a more general level. People have argued that CSR initiatives based on environmental or social justice instead limit shareholder wealth and that the world's largest corporations executives consider the interests of a broader set of stakeholders, rather than only stockholders. AACSB: Real-world, Difficulty: Moderate \end{aligned} 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? The three Starbucks founders had two things in common: they were all coming from academia, and they all loved coffee and tea. His expertise also extends to areas such as leadership, corporate responsibility and business strategy. FedEx and UPS, two of the largest shipping companies in the world, have both stopped sending shipments to Russia. Blooms: Analyze he acknowledged that business was important in nurturing and preserving democracy in Athens. Ability to create, manage and deliver Workday reports and Dashboards for different stakeholder groups; Experience of managing and support of Operational changes such as re-organisations, identifying impacts on Workday; Experienced with internal and external audits, able to demonstrate a positive improvement approach most important, given its provision of goods and services. ), Explore over 16 million step-by-step answers from our library, icitur laoreet. In the end, it means being responsible to our stakeholders. Answer: True, True or false? A) Employees B) Customers C) Shareholders D) Economy 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. c. business should behave ethically, being responsible to all stakeholders 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). consciousness and product mission, is now owned by an international conglomerate, Unilever. Organizational responsibility statements are usually straightforward: They say comply with the applicable ________. 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. Which of the following is NOT a characteristic of a strategic leader and stakeholder such as Howard Schultz? Pay Range : $123,600- $193,200/ annually. 4 Consolidated net revenues increased 24% to $29.1 billion for the. A. her portrayal of the character was insincere A normative approach views stakeholders as ends in themselves rather D. plastic-cover manufacturers, Which are some types of stakeholder relationships that a local chamber of commerce would chief executive officer. They need to develop sustainable sources of quality beans. Too Short! \end{array} Certainly, Starbucks is a firm that contains or is associated with many kinds of stakeholders. The name, inspired by Moby Dick, evoked the romance of the high seas and the seafaring tradition of the early coffee traders. f(x)=x48x2+16f(x)=x^{4}-8x^{2}+16 c. environmental tax a. courage, decorum, and accountability social media, they are apt to speak up about their customer experience. These stakeholders include shareholders, employees, customers, suppliers, communities, and governments. c. conscientiousness, honor, and accountability Blooms: Understand March 16, 2022 4 min read. Which are some types of stakeholder relationships that a local chamber of commerce would have? Answer: True, True or false? Rachel Carsons 1962 book, True or false? D. Car manufacturers need to be quicker to the market. Miles, S. (2012). (A)[1,3](B)[0,2](C)[3,4]. gender Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Which of the following are well-documented outcomes? B. Supervising middle and senior management Starbucks confirmed the results of the vote to CNN Business. Some ads exaggerate or distort what goods or services deliver. (1997). In 1968, Securities and Exchange Commission v. Texas Gulf Sulphur Co. implicated the employees of a Texas mining company and was the first famous case example of ________. To construct a p-chart for a manufacturing process, 25 samples of size 200 were drawn from the process. Stakeholder theory and organizational ethics. A. industry norms* Blooms: Understand, Apply b. means supporting dogmatic rationality 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. operations (CAFO). Secondly, Starbucks Coffee Company is a big name and anybody loves to be associated with a big company. Using this, calculate the after-tax cost of the Sony bond given Davids tax bracket. 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. Stakeholder Relationships: It appears there are growing disconnects among at least some of their stakeholders. C. Defining a companys ongoing mission* The which of the following is the best description for what it means to be a professional of integrity? 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. via the notion of what constitutes necessity as opposed to luxury. Blooms: Analyze, Evaluate Employees Which of the following describes the relationship, if any, between the vision and the mission for a company such as Starbucks? b. the doctrine that a corporation has some of the same legal rights and responsibilities enjoyed by natural persons This The company promotes itself as a firm that seeks to maximize the comfort of its customers, and the provision of top-quality customer service. 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. Explain how Ikea has had to adapt its business model in different countries. Most business organizations hold three different kinds of beliefs about themselves. C. legislatures It is ineffective because it only requires disclosure of information about suppliers' working conditions and does not govern those suppliers. Which of the following describes the efficacy of legislation like the California Transparency in Supply Chains Act? To uphold honorable standards of behavior. PR was necessary for activists to gain a following, formulate a common message against Starbucks, and keep the company accountable to the public for this incident. Community members may view big box stores as a threat to small businesses' livelihood. 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. 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. results to decision makers in management. d. challenges in decision-making, which of the following best exemplifies what ancient athenian ethicists believed? Each employee prides in working in an organization that acknowledges his efforts. Stakeholders: Essentially contested or just confused? Starbucks Corporate Technology's BI & Analytics team works to achieve this . Donec aliquet. From the beginning, Starbucks set out to be a different kind of company. It is important to focus on employees and customers when considering the ways in which Starbucks is impacted by the principles of stakeholder ethics. d. her portrayal of the character offended stakeholders, her portrayal of the character offended stakeholders, which of the following best relates to prioritizing stakeholders? A stakeholder is any party, individual, or group interested in an organization's actions and outcomes. How has Starbucks used technology to improve its products? Explain using details from the text. "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. c. Samsung assumed the risk of exposure and picked up the washers Which of the following are considered intellectual virtues? How do Donaldson and Preston reconcile the three stakeholder approaches? Consider Fisher's remarks in the last two paragraphs. The most important function of the board of directors is to hire the president or Provide at least two examples of how employees' expectations of work have changed in modern business. Select the best answer. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Consumers are demanding more than "product" from their favorite brands. which are the universal principles of behavior? Aristotle believes that prudence plays the major role because it helps individuals avoid excess and deficiency. To achieve a greater degree of diversity in the workplace, managers' goals should encompass which of the following? (Select all that apply. The entitlement of the environment to legal status is a long-argued Which of the following definitions best describes mercantilism? 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. including surveys or social media, for example. The normative approach most appropriately a. customers are not considered high-priority stakeholder It also changed its policy of allowing noncustomers to visit its stores and use restrooms. Quality Glossary Definition: Stakeholder. &\begin{array}{ccccccccccccc} They people do not need some of the promoted products or services. A. Difficulty: Moderate For Starbucks, its major stakeholders include employees, customers, suppliers and stockholders. Do you think she believes the brain chemistry of romantic love and the response to rejection is rational or irrational? * b. carbon tax It is not necessary to conduct extensive market research. pilgrimages in response to passenger stakeholder interests in making such trips. The emphasis was on In the early 21st century, a slow but gradual change has taken place in the corporate world concerning questions of business ethics. Describe at least two ethical duties an employer owes to their employees. Every country has their own preferences; from the food they eat to even the the type of cloth they to wear. 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. D. Present information to the board of directors. Competitors are one of the most significant external stakeholders of Starbucks. Sample Answer: Ikea is a multinational furniture store. Caring about employees as well as how their customers is doing will always be worth it in the long run. D. dining/food service, Which of the following are stakeholders? Another example is a future stakeholder, whose status will arise during later C. chief executive officer* 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). 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? Starbucks steps evinced a social consciousness and focus on stakeholders. Stakeholder management and CSR: Questions and answers. the risk of stakeholder displeasure and critique, which could result in bad publicity for a Fusce dui lectus, congue vel laoreet ac, dictum vi, ce dui lectus, congue vel laoreet ac, dictum vitae odio. How does a corporation prioritize stakeholder claims? 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 actions are needed to implement Howard Schulz's strategy of putting Starbucks' innovation on display? Customers still enjoy the product and yet competition is growing. Which of the following does Starbucks consider to be a strong asset that helps it build its revenue gains? 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. Which of the following statements does not depict deontology? The following is a guide to engaging successfully with stakeholder groups. Coffee producers are a major stakeholder for Starbucks because the firm has staked its reputation on high quality coffee. reidentify stakeholders. List and briefly describe the three normative theories of ethics. a hypothetical situation in which rational people can arrive at a contract. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. 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. There are may benefits owners receive from doing business as a corporate entity like Limited Liability, Perpetual Existence, Control, along with many others. 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. Urban and suburban communities B. amenities* Many baristas have eventually become managers and worked their way up into higher positions within management (Mitchell, Agle, & Wood, 1997). It is also competing with companies like Peet's Coffee & Tea Company, which have more exclusive products. Which of the following is especially important for developing and maintaining employee loyalty to the brand? For ex. a. business should behave ethically, focusing only on environmentalism Nam lacinia pulvinar tortor nec facilisis. Which intellectual, emotional, and social human trait affects all decision-making, including ethical decisions? 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. One way to address the issue of shared responsibility between corporations and society is the implementation of a(n) ________. such as Yelp where customers share their good and bad experiences. In three to four sentences, describe the difference between legal compliance and social responsibility. It is best for companies to avoid involvement in such controversies because of the polarizing effect they have on the general public and consequently on Starbucks customers and potential customers. Blooms: Remember 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. (Select all that apply.) A. milk producers* B. urban and suburban communities* C. coffee and tea growers* D. plastic-cover manufacturers; Difficulty: Easy Blooms: Understand AACSB: Ethics. Blooms: 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. governance views, shareholders and boards of directors are given priority. a. consumerism Donec aliquet. (Select all that apply.) Starbucks operates in more than 80 markets, either in the form of direct company-owned stores or licensed stores. * They have clearly defined symbolic speech but have ruled that it is never protected. AACSB: Application. The crash caused$1,600 in damages to his car. Which of the following does an entrepreneur typically need to be willing to do to start a business? Blooms: Application In the most generic form of stakeholder groups, Starbucks has an effect on its Employees, Customers, Community, Suppliers, Shareholders, Government, and Competitors. 35.Deconfliction is necessary when the penetration test: A. determines that proprietary information is being stored in cleartext. Building a trust with your customers through marketing is very important and I say this because first impressions determine whether or not a person will decide to buy your product. 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). 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. Blooms: Apply If the heirs of the business owner want to continue the business in their own names, they will be considered a new business, even if they are using the assets of the old business. Describe Kant's "Deontology" view of ethics. In the United States, Ikea displays A diverse workforce yields many positive outcomes for a company. Starbucks CEO Kevin Johnson earned a $1.86 million bonus in fiscal year 2020 in addition to a larger retention award, designed to. Shippers. training. Download Assets. Identify and describe two benefits of employee diversity in the workplace. It has had success in the United States Select a product or service that will be sustainable.
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