Environmentalists raise the issue of species and Kroger take into account their suppliers, which include farmers. Intellectual- includes knowledge, wisdom, and prudence (the most important one). What is a "pay-to-pollute" system that charges a fee or tax to those who discharge carbon into the air? such as Yelp where customers share their good and bad experiences. 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? influence suppliers working conditions. Over time, people change, technology advances just like it has in the past couple of years, and cultural mores shift. companies. Pellentesque dapibus efficitur laoreet. 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. Maybe complaining online or in customer service reviews would be If corporations use social responsibilities, it is more likely they will be successful. D. dining/food service, Which of the following are stakeholders? Donec aliquet. CAFOs are condemned by animal rights activists as being harmful to the Donec aliquet. most important, given its provision of goods and services. The coffeehouse company must strengthen its competitive advantages accordingly. stakeholder needs. What was the decision? 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 ________. \text { Par value } & \$ 1,000 & \text { Coupon interest rate 6\% } & \text { Tax bracket 20\% } \\ protect than a trademark or patent. Car design should focus on being competitive on the road. How has Starbucks used technology to improve its products? a. Humongous Bank decides on a policy of holding 100% reserves. The crash caused$1,600 in damages to his car. Stakeholder theory and organizational ethics. . D. stakeholder prioritization, Difficulty: Easy Malaysian Airlines is another example of a company responsive to the stakeholder process. Starbucks competes with many other coffeehouses, including Dunkin' Donuts, McDonald's, and Caribou Coffee. Sample Answer: In May 2018, Starbucks closed its stores after an incident in which two African c. ethics is the guiding principle for dealing with others \end{aligned} 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. Difficulty: Difficult b. ethical principles that apply everywhere despite differences in time, geography and culture (a) What is Friar Lawrence's plan for Juliet? c. a business owner's protection against loss of personal assets Blooms: Apply Explain how owners benefit from doing business as a corporate entity. physical abilities. 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. b. carbon tax 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? And there are two types of stakeholders, including the primary and seconday stakeholders ( Clarkson, 1995). Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Identify and describe two benefits of employee diversity in the workplace. Starbucks then took the step to close its thousands of US stores to conduct racial bias Secondly, Starbucks Coffee Company is a big name and anybody loves to be associated with a big company. OSX Ethics TB Ch03 Defining And Prioritizing Stakeholders, Chapter 3: Defining and Prioritizing Stakeholders, Difficulty: Easy Download Assets. (A)[1,3](B)[0,2](C)[3,4]. want companies to treat stakeholders well to encourage customer and employee loyalty. The Porter's Five Forces analysis of Starbucks Corporation shows that these competitors and related industry factors and market factors combine to create the strong force of competitive rivalry in the food service industry environment. Yet there Farmers supply the coffee grains and tea that are necessary for production. Q: The focus on chapter 6 is diversification which can mean different things for companies depending on the context. with Starbucks in lieu of a civil action against the corporation. This is a lofty goal, especially given Coke products are How can entrepreneurs best ensure their customer-service vision is passed on to employees? results to decision makers in management. In a perpetual existence, when a sole proprietor or partner dies, the assets may go to the heirs, but the business no longer exists. c. customers are considered high-priority stakeholders 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. 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. The firm issued $3 billion in bonds, taking advantage of the. Starbucks baristas are paid above the minimum wage, even at the entry-level position. The main difference between a bribe and a gift is intent. (Select all that apply. 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? AACSB: Analytical, Difficulty: Easy d. Samsung's recall paid refunds and limited potential lawsuits, Samsung's recall paid refunds and limited potential lawsuits, what was the reason for Scarlett Johansson's withdrawal from a recent movie? Which of the following are well-documented outcomes? discrepancy is stark. f(x)=x48x2+16f(x)=x^{4}-8x^{2}+16 a. Samsung's washers had a spin-cycle problem in 2017 Once data are validated, managers present the Mitchell, R. K., Agle, B. R. & Wood, D. J. Secondary stakeholders are media outlets, government, enviromentalist groups, and their competitors. The duty to obey a categorical imperative is irrespective of consequences. True or False: The environment is not considered a stakeholder, True or False: Goodwill . The Starbucks franchises in New Zealand have also been accused of underpaying their younger workers. Each employee prides in working in an organization that acknowledges his efforts. Then, describe how that stated goal might affect how the following employees do their job: (a) a part-time store employeea baristain Omaha; (b) a quality assurance technician at the company's roasting plant in Amsterdam;(c) a regional sales manager; (d) the executive vice . This incident caused a global ), True or false? Sample Answer: A company needs to be aware of its stakeholders. c. marketing Stakeholder ethics involves a body of thought which insists that the ethical responsibilities of corporations extend not only to the shareholders but also to the full range of interests that are impacted by corporate activity. To achieve a greater degree of diversity in the workplace, managers' goals should encompass which of the following? He has the following security-related information: Parvalue$1,000Couponinterestrate6%Taxbracket20%Cost$930Yearstomaturity10\begin{array}{llll} Which of the following is not a belief that businesses hold? c. actions a firm undertakes to satisfy the base threshold for acting ethically Explain Lynn Stouts view of the role of shareholders and the implication for stakeholder Toward a theory of stakeholder identification and salience: Defining the principle of who and what really counts. AACSB: Application, Analytical, Difficulty: Moderate 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? A lot of business' only focus on how much profit or loss their company has when they should also take into account on how their employees are doing and on the impact their business has on the economy. Freeman, R. E. & Moutchnik, A. Journal of Management, 34(6), 11521189. Sample Answer: Greenwashing is the view that companies are acting superficially or are Establish trust. 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. The three Starbucks founders had two things in common: they were all coming from academia, and they all loved coffee and tea. Utilitarianism (the first normative approach to)- an ethical action is one whose consequence achieves the greatest good for the greatest number of people. Which of the following sources of ethical guidance for businesses includes criminal penalties? companies that intentionally keep hours at less than 29 to avoid more costly regulations like the ACA Their concerns are identified through data gathering and analysis, Draw a T-account for the bank. D. rules*, What was the reason for Scarlett Johanssons withdrawal from a recent movie? 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. Managing and executing the strategy of a company governance views, shareholders and boards of directors are given priority. A trade secret is a form of intellectual property protection and is easier to protect than a trademark or patent. b. business should have ethically, focusing exclusively on shareholders/investors. AACSB: Application, Difficulty: Moderate Which commercial transaction in the New World exemplifies the complexity that results when different cultures, experiences, and ethical codes come into contact? Identify and describe two challenges an employer may face in providing reasonable accommodations under the ADA for employees. Which seven-step guidelines are designed to help organizations with compliance and reporting? Observing the company's liquidity, Starbucks has around $2.6 billion in cash and short-term borrowing facilities of $3.5 billion. It also changed its policy of allowing noncustomers to visit its stores and use restrooms. be detrimental to a company. This includes Mexico, which has a Coca-Cola plant They c. Assume that Humongous bank is part of a multibank system. How will Starbucks determine if smaller express stores reduce client wait times after implementing its strategy? long-term dialogue to inform the companys decision making and as a core component of its Technology companies such as Facebook, Apple, and Yahoo (now owned by Verizon) have reported gender and ethnic shortfalls in their workforces. Ethical standards do not remain the same; they convert in response to evolving situations. It is insufficient to have a mission statement, language on a website, or Blooms: Apply In the Supreme Court ruling Citizens United v. Federal Election Commission, which Amendment was at the center of the case? All Rights Reserved. c. methodology for arriving at the truth Blooms: Analyze Starbucks Coffee Company supports its competitive advantages through the characteristics of its corporate structure. A normative approach views stakeholders as ends in themselves rather An ethical financial advisor must ________. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Starbucks' primary business is running a quick service restaurant chain with a coffeeshop model. This is viewed AACSB: Application, Difficulty: Easy Most business organizations hold three different kinds of beliefs about themselves. A. 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. a. an enumerated power listed in the constitution in the Bill of Rights Cross), Give Me Liberty! Which intellectual, emotional, and social human trait affects all decision-making, including ethical decisions? Some ads exaggerate or distort what goods or services deliver. 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In some cases, as soon as entrepreneurs see that they are making profit, everything else suddenly disappears. A. milk producers* FedEx and UPS, two of the largest shipping companies in the world, have both stopped sending shipments to Russia. Phillips, R. (2003). They have clearly defined symbolic speech but have ruled that it is never protected. Read the following scenario and use the following five key questions in stakeholder management to determine how Starbuck's should handle this stakeholder: A few years ago, Starbucks identified three areas in which government could impact the company's ability to maximize profits in its Corporate Social Responsibility Report: (1) U.S. Tax . Coffee and tea growers are Starbucks ' main stakeholders who supply the needed raw materials. B. entities and people with one role at one time to care for a business, What do peers and competitors as normative stakeholders influence? What is a measure that accounts for an organization's results in terms of its effects on profits, planet, and people? Its normal and keeps things interesting in my opinion. For Starbucks, its major stakeholders include employees, customers, suppliers and stockholders. Consumer feedback on social media sites does not affect a company's prospects or status as ethical. changes. 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? stakeholders that their concern was taken into consideration and will continue to be valued. b. Samsung's warned customers that the machines could tip over C. coffee and tea growers* Describe what type of goal each is. 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. Explain how the "triple bottom line" goes beyond the traditional goal of shareholder profit. About Starbucks, the main challenges related to economic, social, and technological factors. PR Related Events and Strategies & Tactics Used Timeline of Key PR Related Events Every stakeholder has different interests depending on their relationship with an. In several sentences, describe one ethical draw-back of job-sharing. In what ways do customers express their views about trust of company goods and services? Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. c. Citizens United 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). nature as stakeholders. The most important function of the board of directors is to hire the president or It c. utmost conduct 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. standards of behavior for professional and personal lives, to uphold honorable standards of behavior. Large corporations such as Community members may view big box stores as a threat to small businesses' livelihood. d. emphasis on method as opposed to content, virtue ethics is an ethical system based on the exercise of which virtues? local, state, national, and international laws and regulations. It is in a business's best interest to promote human flourishing within the organization by providing ________. Furthermore, there is a. promising to earn less profit per share The mayor's wife often___ to the front of church on Sunday to show off her expensive, new clothes. I think of it like renting things temporarily rather than selling them permanently. D. Evaluating the salary and benefits of senior management*, Which employee typically reports directly to a board of directors? AACSB: Real-world, Difficulty: Easy ), Explore over 16 million step-by-step answers from our library, icitur laoreet. Explain the difference between the legal and ethical duties of a corporation. e. They have not directly addressed the matter of symbolic speech. c. media Since the advent of In some premise by lawyers and legal-aid groups. 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. embraces freedom and a sense of divinity, the advantage of justice theory over other ethical systems is its 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. No.The responsibility a producer has is always being honest, even with their marketing campaigns. Urban and suburban communities d. ethics does not apply to the commerce and money, ethics is the guising principle for dealing with others, how did Aristotle reconcile his distrust of business? STARBUCKS CASE PART 3 - GROUP 1. Sample Answer: Customers are articulate about their views of a company. b. her portrayal of the character was not approved Lorem ipsum dolo, ac, dictum vitae odio. b. globalization Starbucks is a global coffee company that has a diverse group of stakeholders who have an interest in the company's performance and actions. Also, a bribery is very unethical and can look bad for the business. virtue ethics (the third normative approach)- focuses on the character of the decision-maker. There are dedicated sites social media, they are apt to speak up about their customer experience. His expertise also extends to areas such as leadership, corporate responsibility and business strategy. What CSR lesson did Starbucks convey when it closed its stores for a day? The normative approach most appropriately Many people now a days are very open-minded and whether you like it or not, it is just the reality of todays society. __ A program where students work on campus to earn money. Stakeholder Relationships: It appears there are growing disconnects among at least some of their stakeholders. AACSB: Reflection, Application, Difficulty: Difficult c. the Dakota land trade true or false: during the industrial revolution and the postindustrial era, the goal of businesses was to earn as high a profit as possible for shareholders, with little concern for outside stakeholders, true or false: even in business, ethics is not about human morality but rather about human consumption, true or false: unless key leaders have a vision for the organization and themselves, and a path to achieving it, there can be no balance of beliefs about profitability and responsibility, or integration of business with culture, true or false: religion's role in business is less certain today; we are perhaps more likely to see a universal, secular code of ethics develop than to see religion serve as common ground for different cultures to come together, businesses that wish to achieve the dual goal of human flourishing and responsible profits should model which ethical behavior?