f(x)=x48x2+16f(x)=x^{4}-8x^{2}+16 How has Starbucks used technology to improve its products? gender This includes Mexico, which has a Coca-Cola plant 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. 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. Over time, people change, technology advances just like it has in the past couple of years, and cultural mores shift. It is important for executives to interact with outside-environment stakeholders such as media and government. C. remuneration Answer: False. 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. Blooms: Remember c. actions a firm undertakes to satisfy the base threshold for acting ethically Describe at least two ethical duties an employer owes to their employees. Utilitarianism (the first normative approach to)- an ethical action is one whose consequence achieves the greatest good for the greatest number of people. Decaf Coffee Market Size is projected to Reach Multimillion USD by 2028, In comparison to 2023, at unexpected CAGR . 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". Which of the following are Starbucks' stakeholders? Aristotle believes that prudence plays the major role because it helps individuals avoid excess and deficiency. A. It must determine which are You will work with relevant stakeholders and the Head of Asset & Configuration Management to implement and support processes that ensure the effective governance, controls and integrity . 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. ), positive customer experiences True or false? Which is the best example of a novelty craze? premise by lawyers and legal-aid groups. Therefore, some employees work for Starbucks to gain that status. stresses that a company must sustain trust with stakeholders. A) Employees B) Customers C) Shareholders D) Economy Sample Answer: MITRE is a five-step guide to stakeholder assessment and management. There are may benefits owners receive from doing business as a corporate entity like Limited Liability, Perpetual Existence, Control, along with many others. urban and suburban communities Customer relations are also an essential component of the business model that has been developed by Starbucks. Sample Answer: In May 2018, Starbucks closed its stores after an incident in which two African B. urban and suburban communities* ), Local governments are seeking to institute tax advantages to attract business competition. 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? The company promotes itself as a firm that seeks to maximize the comfort of its customers, and the provision of top-quality customer service. Select the best answer. Course Hero is not sponsored or endorsed by any college or university. AACSB: Application, Difficulty: Difficult In what ways do customers express their views about trust of company goods and services? In the early 21st century, a slow but gradual change has taken place in the corporate world concerning questions of business ethics. Which of the following is not an example of a diffused shareholder? 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). Many people in the UK will have a product from Thornton & Ross somewhere at home. b. Samsung's warned customers that the machines could tip over One way to address the issue of shared responsibility between corporations and society is the implementation of a(n) ________. Explain how the "triple bottom line" goes beyond the traditional goal of shareholder profit. Stakeholders: Essentially contested or just confused? d. the Louisiana Purchase, South Korean companies like LG and Samsung employ . Operations Management questions and answers. This AACSB: Real-world, Difficulty: Easy What is the responsibility of the producer and the consumer? Its normal and keeps things interesting in my opinion. f(x)=x48x2+16, (A)[1,3](B)[0,2](C)[3,4](A)\ [-1,3]\qquad (B)\ [0,2]\qquad (C)\ [-3,4] In a short paragraph, describe the difference between enculturation and acculturation. __ A program where students work on campus to earn money. is corporate opportunism and the possibility that committed stakeholders are exploited. Protected classes are created by both federal and state law. There are also organizations. c. media Managing and executing the strategy of a company most important, given its provision of goods and services. Donec aliquet. Starbucks' primary business is running a quick service restaurant chain with a coffeeshop model. Technology companies such as Facebook, Apple, and Yahoo (now owned by Verizon) have reported gender and ethnic shortfalls in their workforces. In several sentences, describe how ethical standards can shift with geography and time. nature as stakeholders. 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. Thirty years ago, Starbucks was a single store in Seattle's Pike Place Market selling premium-roasted coffee. Shareholders are certainly an important component of the stakeholders of a corporation (Freeman & Moutchnik, 2013). A. (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. (Select all that apply.) a. milk producers Sample Answer: Lynn Stout believed that shareholders do not necessarily behave as a class. A. chief legal officer * 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. d. They have ruled that symbolic speech is always protected. stakeholder needs. Difficulty: Difficult Pellentesque dapibus efficitur laoreet. Which insurance covers the damage to the fire hydrant? a. the lifestyle characterized by the acquisition of goods and services No one is born with culture; all humans have to learn what is considered appropriate behavior in their surrounding cultures. "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. Answer: True, True or false? insufficient. ), religious beliefs Cross), Give Me Liberty! Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. The concept of corporate social responsibility (CSR) involves the idea that corporations are not merely enterprises whose sole purpose is to generate revenue but organizations that are members of the communities and societies of which they are a part. a. humanity in ethics The coffeehouse company must strengthen its competitive advantages accordingly. AACSB: Analytical. b. the Dutch and Native American trade These are standard stakeholders of almost every business that operates in the United States or overseas. FedEx and UPS. Which of the following are steps in the MITRE stakeholder process? Customers still enjoy the product and yet competition is growing. 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. Large corporations such as represents ethical stakeholder theory. b. ethical principles that apply everywhere despite differences in time, geography and culture This is viewed (Select all that apply. The images of smoldering tank cars, plumes of thick black smoke and a charred rural Ohio town reeling from the fiery Feb. 3 Norfolk Southern train derailment have sparked calls for tougher rail . marketplace, Starbucks has an opportunity to lead by example. In other words, enculturation is taking control over one's own culture, whereas acculturation is the merge of two cultures. If Starbucks follows a strategy of competing in more than one business product, which of the following goals could it accomplish? The duty to obey a categorical imperative is irrespective of consequences. 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. c. methodology for arriving at the truth 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. Why does a Kantian view typically not govern most management decisions? Stakeholder Relationships: It appears there are growing disconnects among at least some of their stakeholders. Which of the following actions are needed to implement Howard Schulz's strategy of putting Starbucks' innovation on display? The firm issued $3 billion in bonds, taking advantage of the. b. standards of behavior The most important function of the board of directors is to hire the president or b. Speaking at the annual shareholders meeting in . 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. The crash caused$1,600 in damages to his car. 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. coffee and tea growers* Nam lacinia pulvinar tortor nec facilisis. It also changed its policy of allowing noncustomers to visit its stores and use restrooms. 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 ________. Lorem ipsum dolor sit amet, consectetur adipiscing elit. On the line before each of the following words, write S for singular or P for plural. d. he thought money should only be allowed for those in trades. Enculturation refers to the process by which humans learn the rules, customs, skills, and values to participate in a society. Blooms: Understand 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. To achieve a greater degree of diversity in the workplace, managers' goals should encompass which of the following? In the Supreme Court ruling Citizens United v. Federal Election Commission, which Amendment was at the center of the case? Enculturation and acculturation seem very alike but when paying close attention, the differences start to pop out. * Answer: False, True or false? Download Assets. Laplume, A., Karan, S. & Litz, R. (2008). The 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. Explain using details from the text. Starbucks primary stakeholders are their employees, customers, shareholders, investors, suppliers, coffee farmers, local communities, and other business partners. What are some examples of how companies take into account the welfare of stakeholders? and avoiding bias. No.The responsibility a producer has is always being honest, even with their marketing campaigns. . When expanded it provides a list of search options that will switch the search inputs to match the current selection. Financial Analysis of PUMA and Nike, Inc. Starbucks Stakeholders: Employees and Customers. stakeholders. 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: Apply 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. uproar. cows and also pollutive, concentrating animal waste in the ground, air, and water. the theory that prosperity depends on extracting wealth or accumulating it from others. Blooms: Understand, Apply The main reason for forming a corporation is to limit the liability of the owners. The three Starbucks founders had two things in common: they were all coming from academia, and they all loved coffee and tea. It is also competing with companies like Peet's Coffee & Tea Company, which have more exclusive products. AACSB: Application, Difficulty: Moderate Journal of Management, 34(6), 11521189. the belief that business is not culturally neutral. have? local, state, national, and international laws and regulations. Blooms: Apply Although Starbucks lost profit from closing stores, it gained some credibility with communities. A. wages (Select all that apply.) Mitchell, R. K., Agle, B. R. & Wood, D. J. D. chief privacy officer, In which functional areas of business does the CEO hire management? d. Corporate personhood, what is a "pay-to-pollute" system that charges a fee or tax to those who discharge carbon into the air? Take airbnb for example, accommodations are not inspected while in a hotel, they are. Lorem ipsum dolor sit, s ante, dapibus a molestie consequat, ultrices ac magna. * Blooms: Analyze (1997). consciousness and product mission, is now owned by an international conglomerate, Unilever. 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. 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. good for business and the right thing to do from an ethical standpoint. 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. D. rules*, What was the reason for Scarlett Johanssons withdrawal from a recent movie? Blooms: Application True or False: The environment is not considered a stakeholder, True or False: Goodwill . What was the decision? 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 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 A firm's vision is the foundation for its mission. B. government liaison/lobbying director Starbucks continually emphasizes its commitment to corporate social responsibility. c. Samsung assumed the risk of exposure and picked up the washers \text { Cost } & \$ 930 & \text { Years to maturity } 10 & In addition with many other laws, current employees are not to work for competitors or set up competing companies that divert potential clients and opportunities. Starbucks set out on its current course in the 1980s . Deontology is often regarded as a "here and now" philosophy. While Starbucks has demonstrated some level of commitment to the principles of Starbucks regarding labor relations and employee retention, it is also clear that certain problems remain as well. PR Related Events and Strategies & Tactics Used Timeline of Key PR Related Events Organizational responsibility statements are usually straightforward: They say comply with the applicable ________. An example involves a partnership that was created between Starbucks and Arizona State University that provided scholarships of these kinds where the corporation would pay for more than 50% of the students tuition. this is an example of.. It is not necessary to conduct extensive market research. AACSB: Reflection, Difficulty: Difficult They have clearly defined symbolic speech and what type of symbolic speech is protected. c. is an unattainable goal of perfect virtue 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. mysterious plane crashes, the Malaysian government (a stakeholder) and private investors hired a . Felix Madison has $10,000 worth of property damage insurance and a$1,000 deductible collision insurance policy. 100 %. Blooms: Remember 16 & 14 & 9 & 11 & 15 & 8 & 12 & 16 & 17 & 13 & 15 & 10 & 9 \\ a. the responsibility a company has regarding justice and care OSX Ethics TB Ch03 Defining And Prioritizing Stakeholders, Chapter 3: Defining and Prioritizing Stakeholders, Difficulty: Easy inauthentic in carrying out corporate social responsibility when the company already has Which of the following is not a belief that businesses hold? social media, they are apt to speak up about their customer experience. b. applying U.S. law regarding child labor globally a. Humongous Bank decides on a policy of holding 100% reserves. Which of the following describes the relationship, if any, between the vision and the mission for a company such as Starbucks? Answer: False, True or false? companies that intentionally keep hours at less than 29 to avoid more costly regulations like the ACA Blooms: Remember celebrated coffee and the rich tradition, but that also brought a feeling of connection. 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. ), milk producers Select a product or service that will be sustainable. Which of the following does Starbucks consider to be a strong asset that helps it build its revenue gains? Defectives16149111581216171315109121411871215916131110\begin{aligned} Blooms: Apply Shippers. Quality Glossary Definition: Stakeholder. C. Defining a companys ongoing mission* Which legislation was passed in 2002 that mandates reporting transparency by businesses in areas ranging from finance to accounting to supply chain activities? focused on stakeholders, and perhaps instead concentrated on consumers or shareholders, could He had a tire blowout while driving and crashed into a $1,400 fire hydrant. They can be found working as baristas, store managers, or regional executives. Journal of Business Ethics, 108(3), 285298. AACSB: Real-world, C. greenwashing A. industry norms* D. Evaluating the salary and benefits of senior management*, Which employee typically reports directly to a board of directors? stakeholders that their concern was taken into consideration and will continue to be valued. Among the most important stakeholders with regard to Starbucks are the companys employees, customers, suppliers, investors, government, and the environment. B. Supervising middle and senior management 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. (Select all that apply. b. courage, honor, and loyalty In Richard DeGeorge's humanities model, business ethics would prepare students to do certain specific things. 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. B. entities and people with one role at one time to care for a business, What do peers and competitors as normative stakeholders influence? Misunderstanding and lack of communication tend to happen even more. However, Starbucks has also been criticized for its labor relations as well. For that law, companies are. Urban and suburban communities In the case of Dodge v. Ford Motor Company, the Michigan Supreme Court ruled in favor of shareholder primacy. Academy of Management Review, 22(4), 853886. Which of the following entrepreneurs is known for having an easygoing personality? 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. 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 e. They have not directly addressed the matter of symbolic speech. the cost of stakeholders. How can entrepreneurs best ensure their customer-service vision is passed on to employees? A company must identify and Environmentalists raise the issue of species and Which of the following laws ensures that employers provide a workplace environment free of risk to employees' safety and health? Their concerns are identified through data gathering and analysis, Employees are dissatisfied with the trust they receive from management and are seeking "representation" through unions. All companies must have a board of directors. So many customers now . governance views, shareholders and boards of directors are given priority. For example, an employee has to do what the manager tells them to do because that is what they were taught their entire life, to respect authority figures. Internal stakeholder In this part Internal stakeholders mean the hotel staff, as well as . Global store sales increased 20% year-over-year, led by a strong 22% average increase in sales across all North American stores. Coffee producers are a major stakeholder for Starbucks because the firm has staked its reputation on high quality coffee. d. embraces freedom and a sense of divinity, the advantage of justice theory over other ethical systems is its than as a means to achieve better financial results. A. her portrayal of the character was insincere In China, Ikea allows its visitors to take naps on Which of the following are Starbucks' key stakeholders? Which concept means that the owners (shareholders) of corporations, as well as directors and managers, are protected by laws stating that their losses in case of business failure cannot exceed the amount they paid for their shares of ownership? This button displays the currently selected search type. It is in a business's best interest to promote human flourishing within the organization by providing ________. This is a lofty goal, especially given Coke products are 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. The following is a guide to engaging successfully with stakeholder groups. Milk, which is a main ingredient of the ice cream, is often sourced from confined-animal feeding systemic ethics problems. which of the following is the best description for what it means to be a professional of integrity? 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? In the case of Coca-Cola, its website discusses stakeholder engagement in a \end{array} Starbucks baristas are paid above the minimum wage, even at the entry-level position. Additionally, Starbucks has also provided educational assistance to select employees by means of academic scholarships. 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 environment is not considered a stakeholder. c. Citizens United CSR and greenwashing are the same concepts. b. carbon tax Yet there service, for example. c. Compute and plot the A, B, and C zone boundaries on the p-chart. virtue ethics (the third normative approach)- focuses on the character of the decision-maker. These stakeholders include shareholders, employees, customers, suppliers, communities, and governments. c. her portrayal of the character offended shareholders (Select all that apply. How is Starbucks diversifying in India to fit into the local culture? c. the freedom and ability to make choices based on one's perception of right and wrong 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. Describe the steps in the MITRE stakeholder process and provide an example. Starbucks Coffee Company supports its competitive advantages through the characteristics of its corporate structure. Summarize the ethical debate of whether corporations owe a duty to society or only to their owners. His expertise also extends to areas such as leadership, corporate responsibility and business strategy. operations (CAFO). Which of the following is especially important for developing and maintaining employee loyalty to the brand? Competitors are one of the most significant external stakeholders of Starbucks. (A)[1,3](B)[0,2](C)[3,4]. A firm's vision is the foundation for its mission. Employee diversity in the workplaces can enhance performance and drive innovation. Starbucks confirmed the results of the vote to CNN Business. As Starbucks, we can either choose to rise to this moment or stand idle. Stakeholder management and CSR: Questions and answers. The normative approach most appropriately The most immediately visible and representative employees of Starbucks are the individuals that engage as servers in Starbucks stores. a. community Employees and customers are the two most visible manifestations of the activities of Starbucks and certainly the most visible stakeholders (Mansell, 2013). Starbucks has also faced lawsuits concerning efforts to withhold tips from employees. Which of the following are well-documented outcomes? They Consult with business partners, managers or other key stakeholders. Which of the following does an entrepreneur typically need to be willing to do to start a business? c. humanistic business model being committed to ethical business practices. he acknowledged that business was important in nurturing and preserving democracy in Athens. Starbucks is an American multinational chain of coffeehouses that retails handcrafted coffee, fresh food items and tea. Consider Fisher's remarks in the last two paragraphs. The California Transparency in AACSB: Ethics, Difficulty: Easy beds to show customers the available bed sizes. Difficulty: Difficult 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. A. finance* B. local and regional governments* Blooms: Analyze Many people now a days are very open-minded and whether you like it or not, it is just the reality of todays society.