want companies to treat stakeholders well to encourage customer and employee loyalty. They The company promotes itself as a firm that seeks to maximize the comfort of its customers, and the provision of top-quality customer service. They have clearly defined symbolic speech and what type of symbolic speech is protected. 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. No.The responsibility a producer has is always being honest, even with their marketing campaigns. such as Yelp where customers share their good and bad experiences. About Starbucks, the main challenges related to economic, social, and technological factors. Which of the following are Starbucks' stakeholders? Blooms: Apply Explain how Ikea has had to adapt its business model in different countries. 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 B. Supervising middle and senior management Which commercial transaction in the New World exemplifies the complexity that results when different cultures, experiences, and ethical codes come into contact? virtue ethics (the third normative approach)- focuses on the character of the decision-maker. Blooms: Analyze Employees and customers are the two most visible manifestations of the activities of Starbucks and certainly the most visible stakeholders (Mansell, 2013). Blooms: Remember Defectives16121414911118157812121516917161313151110109. 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. b. Sarbanes-Oxley Blooms: Apply Answer: False, True or false? A company must identify and What is the ethical issue behind issuing disaster insurance? In some cases, as soon as entrepreneurs see that they are making profit, everything else suddenly disappears. Operations Management questions and answers. Starbucks Coffee Company supports its competitive advantages through the characteristics of its corporate structure. One big issue access economy has is lack of regulations, especially when it comes to overseeing the products and services exchanged during the transaction. Blooms: Understand, Apply AACSB: Application, Difficulty: Moderate It also changed its policy of allowing noncustomers to visit its stores and use restrooms. Blooms: Apply About Starbucks Since 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting high-quality arabica coffee. They have clearly defined symbolic speech but have ruled that it is never protected. In China, Ikea allows its visitors to take naps on Mansell, S. (2013). If you feel harassed, prejudiced against, or disadvantaged in your workplace, you may file a complaint with the ________. It has had success in the United States b. the doctrine that a corporation has some of the same legal rights and responsibilities enjoyed by natural persons The airline is now focused on promoting Muslim Blooms: Apply 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. long-term dialogue to inform the companys decision making and as a core component of its (Select all that apply. The following points outline skills and experiences that are considered assets: First Aid and CPR certification. Lorem ipsum dolo, ac, dictum vitae odio. a. the responsibility a company has regarding justice and care C. legal compliance* Therefore, some employees work for Starbucks to gain that status. Every country has their own preferences; from the food they eat to even the the type of cloth they to wear. The three Starbucks founders had two things in common: they were all coming from academia, and they all loved coffee and tea. &\begin{array}{ccccccccccccc} Misunderstanding and lack of communication tend to happen even more. 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. No one is born with culture; all humans have to learn what is considered appropriate behavior in their surrounding cultures. To achieve a greater degree of diversity in the workplace, managers' goals should encompass which of the following? Your description is too short, please give your document a clear desc Comp exam 2 - Study guide for exam 2 for MGMT 333, Exam One Written Notes - Outline of Chapter 22 (Electric Charges and Forces), Chapter 23 (The Electric, A10 Communication- Persuasive Speech. a. the "purchase" of Manhattan a. leads people to treat others as a means to an end Nam risus ante, dapibus a molestie consequat, ultrices ac magna. (Select all that apply. Explain Lynn Stouts view of the role of shareholders and the implication for stakeholder Of course companies have the responsibility to market their products with integrity because without them, the business would be no where. 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. 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? stakeholders. On the other hand, Starbucks has often been criticized as a firm that is hypocritical in his approach to such matters by claiming to be a company that abides by the principles of stakeholder ethics while treating its employees poorly. 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). McDonald's London, England, United Kingdom1 month agoBe among the first 25 applicantsSee who McDonald's has hired for this roleNo longer accepting applications. Those men later settled Starbucks operates in more than 80 markets, either in the form of direct company-owned stores or licensed stores. An employee who works in the graphic design department of a large advertising agency most likely cannot moonlight after business hours for a friend's ________. Which of the following are Starbucks' key stakeholders? f(x)=x48x2+16, (A)[1,3](B)[0,2](C)[3,4](A)\ [-1,3]\qquad (B)\ [0,2]\qquad (C)\ [-3,4] Also, a bribery is very unethical and can look bad for the business. Job Summary and Mission. Answer: True, 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. 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. The California Transparency in (Select all that apply.) ), positive customer experiences Community members may view big box stores as a threat to small businesses' livelihood. AACSB: Application, Difficulty: Easy How does a corporation prioritize stakeholder claims? A bribe is given with either an explicit or implied expectation of return that will benefit your business while a gift is given without any expectation of return and does not benefit your business. A. wages 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). good for business and the right thing to do from an ethical standpoint. D. stakeholder prioritization, Difficulty: Easy Nam lacinia pulvinar tortor nec facilisis. uproar. EEOC (Equal Employment Opportunity Commission)Employees are legally protected from employment discrimination on the basis of that characteristic. 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 AACSB: Analytical, Difficulty: Easy I say this because with many different opinions being thrown in the air, being on the same boat is not the easiest thing. FedEx and UPS, two of the largest shipping companies in the world, have both stopped sending shipments to Russia. What CSR lesson did Starbucks convey when it closed its stores for a day? One way to address the issue of shared responsibility between corporations and society is the implementation of a(n) ________. Answer: False, True or false? ), milk producers Blooms: Remember local, state, national, and international laws and regulations. Stakeholder management and CSR: Questions and answers. nature as stakeholders. gender True or False: CSR and greenwashing are the same concepts, True or False: it is important for executives to interact with outside-environment stakeholders such as media and government, True or False: the most important function of the board of directors is to hire the president of chief executive officer, True or False: all stakeholders must be treated the same, which of the following are the opposing views of how large, publicly held corporations should approach social responsibility and ethics? influence suppliers working conditions. According to Donaldson and Preston, what are the three theoretical approaches to considering stakeholder claims? a. milk producers Explain using details from the text. 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. How has Starbucks used technology to improve its products? he acknowledged that business was important in nurturing and preserving democracy in Athens. A decision to be less Lorem ipsum dolor sit amet, consectetur adipiscing elit. Many baristas have eventually become managers and worked their way up into higher positions within management (Mitchell, Agle, & Wood, 1997). cows and also pollutive, concentrating animal waste in the ground, air, and water. Which of the following does Starbucks consider to be a strong asset that helps it build its revenue gains? training. Deontology is often regarded as a "here and now" philosophy. Also, it is crucial that the company inform 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. a. implementation of values AACSB: Analytical. and China, for example, by adapting to local cultural norms. He had a tire blowout while driving and crashed into a $1,400 fire hydrant. True or false? d. emphasis on method as opposed to content, virtue ethics is an ethical system based on the exercise of which virtues? Pay Range : $123,600- $193,200/ annually. only applies to shareholders, and it is the amount of money a shareholder could make after selling a holding in a company, True or False: the prevailing current business philosophy is that the sole purpose of business is to make money for shareholders, True or False: customer feedback on social media sites does not affect a company's prospects or status as ethical, True or False: for utilitarianism, the intent of the actors and how humanely people are treated are treated are the determining factor, True or False: individuals, in are the most basic ethical unit, True or False: virtue emphasizes the formation of character, True or False: laws and regulations set the maximum standards by which society lives out ethical norms, morality, as considered by Kant Certainly, Starbucks is a firm that contains or is associated with many kinds of stakeholders. 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. a. business should behave ethically, focusing only on environmentalism a. he viewed those outside economic and political circles as virtuous Which of the following describes the relationship, if any, between the vision and the mission for a company such as Starbucks? D. dining/food service, Which of the following are stakeholders? 12 & 14 & 11 & 8 & 7 & 12 & 15 & 9 & 16 & 13 & 11 & 10 & A. chief legal officer Kroger take into account their suppliers, which include farmers. Consumers support big box stores that offer quality goods and reasonable prices, Which of the following are Starbucks' stakeholders? \end{array} (Select all that apply. 4 Consolidated net revenues increased 24% to $29.1 billion for the. A trade secret is a form of intellectual property protection and is easier to protect than a trademark or patent. physical abilities. b. her portrayal of the character was not approved In the end, it means being responsible to our stakeholders. A. milk producers* (Select all that apply. It is also competing with companies like Peet's Coffee & Tea Company, which have more exclusive products. 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. 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 Describe Kant's "Deontology" view of ethics. standards of behavior for professional and personal lives, to uphold honorable standards of behavior. c. Samsung assumed the risk of exposure and picked up the washers Berrett-Koehler Publishers. c. environmental tax Among the most important stakeholders with regard to Starbucks are the companys employees, customers, suppliers, investors, government, and the environment. 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. Environmentalists raise the issue of species and a. consumerism Advocates of the right to bear arms as well as proponents of gun control have criticized Starbucks for the companys policies regarding the carrying of firearms in Starbucks stores by customers. 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. Which of the following describes the efficacy of legislation like the California Transparency in Supply Chains Act? d. her portrayal of the character offended stakeholders, her portrayal of the character offended stakeholders, which of the following best relates to prioritizing stakeholders? Sample Answer: Companies must take into account the welfare of stakeholders because it is Partners with stakeholders and business hiring managers to ensure that the project has the skillsets and resources required for delivery. Consumer feedback on social media sites does not affect a company's prospects or status as ethical. governance. Too Short! All stakeholders must be treated the same. Which of the following are Starbucks' stakeholders? Starbucks CEO Kevin Johnson earned a $1.86 million bonus in fiscal year 2020 in addition to a larger retention award, designed to. AACSB: Real-world, Difficulty: Moderate premise by lawyers and legal-aid groups. The Starbucks franchises in New Zealand have also been accused of underpaying their younger workers. Certainly, programs of these kinds that have been maintained by Starbucks have been beneficial to some employees and are consistent with the principles of stakeholder ethics. C. environmental agencies Our responsibility starts with being accountable to Starbucks stakeholdersour partners, customers, shareholders, suppliers, community members and othersand communicating openly about our business practices and performance. Which of the following are Starbucks' stakeholders? 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. d. Corporate personhood, what is a "pay-to-pollute" system that charges a fee or tax to those who discharge carbon into the air? Which. Since the advent of 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. focused on stakeholders, and perhaps instead concentrated on consumers or shareholders, could The main difference between a bribe and a gift is intent. This button displays the currently selected search type. The most important function of the board of directors is to hire the president or Which group is most ill prepared to exercise good judgment in the face of subliminal advertising? inauthentic in carrying out corporate social responsibility when the company already has The environment is not considered a stakeholder. a. Humongous Bank decides on a policy of holding 100% reserves. Draw a T-account for the bank after this first round of loans has been made. Sample Answer: Greenwashing is the view that companies are acting superficially or are Donec aliquet. As for ethical duties, they are standards based on human principles of right from wrong. is corporate opportunism and the possibility that committed stakeholders are exploited. AACSB: Application, Difficulty: Difficult Which are some types of stakeholder relationships that a local chamber of commerce would have? Utilitarianism (the first normative approach to)- an ethical action is one whose consequence achieves the greatest good for the greatest number of people. Thus, Ikea changed in response to consumer It is important for executives to interact with outside-environment stakeholders AACSB: Application, Difficulty: Easy A common law or principle stating that officers, directors, and managers of a corporation are not liable for losses incurred when the evidence demonstrates that decisions were reasonable and made in good faith is known as ________. 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 Yet there b. code of ethics In a perpetual existence, when a sole proprietor or partner dies, the assets may go to the heirs, but the business no longer exists. (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. Starbucks that would result in change to the issue of racism in America. Maybe complaining online or in customer service reviews would be Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. (Select all that apply.) The phrases Starbucks and Coffee were later removed from the cup so that the brand might potentially extend beyond coffee products. In the United States, Ikea displays Many people in the UK will have a product from Thornton & Ross somewhere at home. c. conscientiousness, honor, and accountability Which is the best example of a recent company crisis caused by poor leadership? b. ethics is about what someone does Enculturation refers to the process by which humans learn the rules, customs, skills, and values to participate in a society. 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. This includes Mexico, which has a Coca-Cola plant 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? Stakeholder theory and organizational ethics. A. finance* It is important to focus on employees and customers when considering the ways in which Starbucks is impacted by the principles of stakeholder ethics. From the beginning, Starbucks set out to be a different kind of company. Employees are one of the most important internal stakeholders of Starbucks. Enculturation and acculturation seem very alike but when paying close attention, the differences start to pop out. Managing and executing the strategy of a company Which intellectual, emotional, and social human trait affects all decision-making, including ethical decisions? All companies must have a board of directors. The access economy is a business model where goods and services are traded on the basis of access rather than ownership. such as media and government. Once data are validated, managers present the (a) What is Friar Lawrence's plan for Juliet? Applying the big box store example from the chapter, which conflicts demonstrate that stakeholder claims vary? c. customers are considered high-priority stakeholders There is a growing recognition of the need for corporate accountability. The people in this economy have $20 million in money, and they deposit all their money in Humongous Bank. Which of the following are factors included when applying a legal definition of diversity? Blooms: Apply a positive bottom line. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Ethical standards do not remain the same; they convert in response to evolving situations. Select the best answer. So many customers now . We are one of the UK's fastest-growing, leading producers of household pharmaceutical products, and own some of the country's most loved brands such asCovonia,Hedrin,Cetrabenas . Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. An analysis of perceived priority of shareholder impact should include which of the following? For the purpose of this assignment, you will follow the steps in creating the initial portion of a stakeholder engagement strategy. Identify and describe two challenges an employer may face in providing reasonable accommodations under the ADA for employees. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. d. he thought money should only be allowed for those in trades. Answer: False, True or false? b. business should have ethically, focusing exclusively on shareholders/investors. b. set of cultural norms Consumer responsibility is diminished if advertising is directed toward children. 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 . Which of the following is the lesson learned from the Edsel story? AACSB: Reflection, Difficulty: Difficult c. humanistic business model Shippers. C. Defining a companys ongoing mission* B. most important, given its provision of goods and services. Draw a T-account for the bank. service, for example. 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. Stakeholder theory: Reviewing a theory that moves us. Henry Ford must operate Ford Motor Company primarily to maximize profit for its shareholders. The coffee farmers supply coffee to Starbucks. Blooms: Understand Quality Glossary Definition: Stakeholder. c. is an unattainable goal of perfect virtue 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 is not an example of a diffused shareholder? Which of the following is a resource made available to employees, in addition to salary? \text { Cost } & \$ 930 & \text { Years to maturity } 10 & In a short paragraph, describe the difference between enculturation and acculturation. 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). His expertise also extends to areas such as leadership, corporate responsibility and business strategy. Also, Starbucks faced the challenge of technology. How does consumer thought affect purchasing? Blooms: Apply Which of the following is not a belief that businesses hold? Business ethics exists on which of the following three levels? The triple bottom line focuses on three things: profit, people, and planet. What are some amenities companies offer employees that go beyond a legal minimum or The enhanced training set a standard for other companies that serve the public. (Select all that apply.). b. Samsung's warned customers that the machines could tip over They need to develop sustainable sources of quality beans. Each employee prides in working in an organization that acknowledges his efforts. One that not only. C. Gather and analyze appropriate data. After 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. d. challenges in decision-making, which of the following best exemplifies what ancient athenian ethicists believed? Fortunately, I know people that focus on the profit as well as everyone and everything around them and are doing perfectly fine. P3-1. "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. We are, therefore, Having theoretical approaches to stakeholders highlights Which insurance covers the damage to the fire hydrant? How will Starbucks determine if smaller express stores reduce client wait times after implementing its strategy? (promenades; tarries). Which of the following are Starbucks' stakeholders? Toward a theory of stakeholder identification and salience: Defining the principle of who and what really counts. The name, inspired by Moby Dick, evoked the romance of the high seas and the seafaring tradition of the early coffee traders. Sample Answer: Customers are articulate about their views of a company. Develop or acquire assets and skills needed to implement the strategy. Capitalism, corporations and the social contract: A critique of stakeholder theory. They can affect how successful Starbucks is by doing their job and providing inputs into decisions that go into creating products and services that customers want. A diverse workforce yields many positive outcomes for a company. Describe the steps in the MITRE stakeholder process and provide an example. Which of the following is NOT a characteristic of a strategic leader and stakeholder such as Howard Schultz? 16 & 14 & 9 & 11 & 15 & 8 & 12 & 16 & 17 & 13 & 15 & 10 & 9 \\ Starbucks confirmed the results of the vote to CNN Business. 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.

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