Berrett-Koehler Publishers. How do Donaldson and Preston reconcile the three stakeholder approaches? c. the freedom and ability to make choices based on one's perception of right and wrong Answer: False. Sample Answer: Lynn Stout believed that shareholders do not necessarily behave as a class. ), milk producers AACSB: Application, Real-world. Milk, which is a main ingredient of the ice cream, is often sourced from confined-animal feeding Starbucks CEO Kevin Johnson earned a $1.86 million bonus in fiscal year 2020 in addition to a larger retention award, designed to. AACSB: Application, Difficulty: Difficult generations, such as the case with pollution. a. leads people to treat others as a means to an end 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 d. They have ruled that symbolic speech is always protected. Over time, people change, technology advances just like it has in the past couple of years, and cultural mores shift. companies. Which commercial transaction in the New World exemplifies the complexity that results when different cultures, experiences, and ethical codes come into contact? 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. (Starbucks does not follow the traditional franchising terms.) This is a lofty goal, especially given Coke products are Community members may view big box stores as a threat to small businesses' livelihood. Select the best answer. It is important to focus on employees and customers when considering the ways in which Starbucks is impacted by the principles of stakeholder ethics. 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; Which of the following is not considered a stakeholder? What is the ethical issue behind issuing disaster insurance? Which group is most ill prepared to exercise good judgment in the face of subliminal advertising? Difficulty: Moderate Supply Chains Act also implicates the welfare of stakeholders. All stakeholders must be treated the same. marketplace, Starbucks has an opportunity to lead by example. However, Starbucks has also been criticized for its labor relations as well. Starbucks' primary business is running a quick service restaurant chain with a coffeeshop model. * 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. Humongous Bank is the only bank in the economy. (Select all that apply.) C. environmental agencies Why does a Kantian view typically not govern most management decisions? chief executive officer. 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? with Starbucks in lieu of a civil action against the corporation. &\begin{array}{ccccccccccccc} Nam risus ante, dapibus a molestie consequat, ultrices ac magna. 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 . D. It is effective because it expects NGOs, state governments, and political action committees to Partners with stakeholders and business hiring managers to ensure that the project has the skillsets and resources required for delivery. For Starbucks, its major stakeholders include employees, customers, suppliers and stockholders. Each employee prides in working in an organization that acknowledges his efforts. 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. 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. Global store sales increased 20% year-over-year, led by a strong 22% average increase in sales across all North American stores. Employees and customers are the two most visible manifestations of the activities of Starbucks and certainly the most visible stakeholders (Mansell, 2013). Blooms: Analyze The main reason for forming a corporation is to limit the liability of the owners. a. milk producers Henry Ford must operate Ford Motor Company primarily to maximize profit for its shareholders. Blooms: Apply new CEO with a tourism background. D. dining/food service, Which of the following are stakeholders? AACSB: Analytical, Difficulty: Easy Participate in and support community . (Select all that apply.). b. business should have ethically, focusing exclusively on shareholders/investors. Find the absolute maximum and minimum, if either exists, for each function on the indicated intervals. Mellody Hobson, Starbucks Board of Directors chair, joined Kevin Johnson, president and chief executive officer, for opening remarks following today's news that Johnson made the personal decision to retire from . (Select all that apply. operations (CAFO). 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. c. methodology for arriving at the truth Journal of Management, 34(6), 11521189. Consider Fisher's remarks in the last two paragraphs. local, state, national, and international laws and regulations. Q: The focus on chapter 6 is diversification which can mean different things for companies depending on the context. stresses that a company must sustain trust with stakeholders. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Misunderstanding and lack of communication tend to happen even more. d. embraces freedom and a sense of divinity, the advantage of justice theory over other ethical systems is its Sample Answer: A company needs to be aware of its stakeholders. Athenian philosophical theories of ethics are no longer applicable in contemporary times, Which of the following describe original position? governance. A. finance* Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. How can entrepreneurs best ensure their customer-service vision is passed on to employees? 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. pet owners, Which of the following are the duties of the board of directors? Today, with over 32,000 stores around the globe, the company is the premier roaster and retailer of specialty coffee in the world. A) Employees B) Customers C) Shareholders D) Economy D. Present information to the board of directors. His expertise also extends to areas such as leadership, corporate responsibility and business strategy. a. Samsung's washers had a spin-cycle problem in 2017 the belief that business is not culturally neutral. CAFOs are condemned by animal rights activists as being harmful to the 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. 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. 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 ________. Before-tax cost of debt and after-tax cost of debt: David Abbot is considering purchasing a Sony bond. Pellentesque dapibus efficitur laoreet. companies that intentionally keep hours at less than 29 to avoid more costly regulations like the ACA A. ), religious beliefs Financial Analysis of PUMA and Nike, Inc. Starbucks Stakeholders: Employees and Customers. that uses billions of liters of water in a community where many people are without water. B. marketing* They have clearly defined symbolic speech but have ruled that it is never protected. AACSB: Real-world, Difficulty: Moderate AACSB: Reflection, Difficulty: Difficult Ben & Jerrys, an ice cream company known for its founders social Blooms: Apply a. implementation of values The number of defectives in each sample is listed in time order in the table that follows. B. her portrayal of the character was not approved What constitutes a reasonable profit may be unfair. Too Short! Urban and suburban communities EEOC (Equal Employment Opportunity Commission)Employees are legally protected from employment discrimination on the basis of that characteristic. Which of the following are factors included when applying a legal definition of diversity? Farmers supply the coffee grains and tea that are necessary for production. Bonus Eligible : Yes. In China, Ikea allows its visitors to take naps on Stakeholders: Essentially contested or just confused? Blooms: Remember welfare for two reasons: It is good for business and the right thing to do. Develop or acquire assets and skills needed to implement the strategy. Stakeholder theory: Reviewing a theory that moves us. a. he viewed those outside economic and political circles as virtuous Therefore, some employees work for Starbucks to gain that status. PR Related Events and Strategies & Tactics Used Timeline of Key PR Related Events According to the I/O Model of Above-Average Returns, which of the following steps should Starbucks complete immediately before implementing a strategy? b. d. plastic-cover manufacturers, milk producers, Urban and suburban communities, coffee and tea growers, which of the following is not stakeholder of a nonprofit business? From the beginning, Starbucks set out to be a different kind of company. U.S. firms and their employees are allowed to use bribery in other countries if allowed by local legal and cultural differences. 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. Another example is a future stakeholder, whose status will arise during later What are some examples of how companies take into account the welfare of stakeholders? Having theoretical approaches to stakeholders highlights C. legislatures Which. Starbucks that would result in change to the issue of racism in America. urban and suburban communities b. Samsung's warned customers that the machines could tip over Nam lacinia pulvinar tortor nec facilisis. beds, which is acceptable in that culture. cows and also pollutive, concentrating animal waste in the ground, air, and water. making sure the stores employees and the company policies were sensitive toward identifying For ex. 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? discrepancy is stark. Toward a theory of stakeholder identification and salience: Defining the principle of who and what really counts. Starbucks has also been accused of overpricing its products, particularly concerning its franchises in China, and of underfilling its cups as well (Laplume et al., 2008). Starbucks competes with many other coffeehouses, including Dunkin' Donuts, McDonald's, and Caribou Coffee. Starbucks Coffee Company supports its competitive advantages through the characteristics of its corporate structure. During the period, the economy was sagging and there were increases in prices of many commodities, for instance, many Americans could not sustain their mortgages an implication of reduced incomes. 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? Answered over 90d ago. Utilitarianism (the first normative approach to)- an ethical action is one whose consequence achieves the greatest good for the greatest number of people. c. ethics is the guiding principle for dealing with others No.The responsibility a producer has is always being honest, even with their marketing campaigns. a positive bottom line. (Select all that apply. 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. Blooms: Apply The name, inspired by Moby Dick, evoked the romance of the high seas and the seafaring tradition of the early coffee traders. Deontology is often regarded as a "here and now" philosophy. Starbucks baristas are paid above the minimum wage, even at the entry-level position. What are some amenities companies offer employees that go beyond a legal minimum or Starbucks then took the step to close its thousands of US stores to conduct racial bias Difficulty: Difficult There is a growing recognition of the need for corporate accountability. Felix Madison has $10,000 worth of property damage insurance and a$1,000 deductible collision insurance policy. Starbucks confirmed the results of the vote to CNN Business. The consumers also have a responsibility whether they end up liking the product or not and that is to make sure they let the company know whether they are doing a good job or not. Make a list of Starbucks' goals. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. b. standards of behavior Lorem ipsum dolo, ac, dictum vitae odio. About Starbucks Since 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting high-quality arabica coffee. a. her portrayal of the character was insincere c. utmost conduct What is a "pay-to-pollute" system that charges a fee or tax to those who discharge carbon into the air? Nam lacinia pulvinar tortor nec facilisis. 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