a. community Who Are Stakeholders In A Business? | Indeed.com most important, given its provision of goods and services. represents ethical stakeholder theory. Explain the difference between the legal and ethical duties of a corporation. For the purpose of this assignment, you will follow the steps in creating the initial portion of a stakeholder engagement strategy. Katherine Martinez (She/Her/Hers) - LinkedIn Enculturation and acculturation seem very alike but when paying close attention, the differences start to pop out. Deontology is often regarded as a "here and now" philosophy. essence of Stouts view is concern that shareholders may want to maximize their investment at Which of the following is NOT a characteristic of a strategic leader and stakeholder such as Howard Schultz? Blooms: Apply Urban and suburban communities Starbucks then took the step to close its thousands of US stores to conduct racial bias the risk of stakeholder displeasure and critique, which could result in bad publicity for a People have argued that CSR initiatives based on environmental or social justice instead limit shareholder wealth and that the world's largest corporations executives consider the interests of a broader set of stakeholders, rather than only stockholders. 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. Explain how owners benefit from doing business as a corporate entity. This can be a consumer who is unable to express their discontent with a product or How can you explain the range of mixed economies in the world? 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). Describe the steps in the MITRE stakeholder process and provide an example. 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. Starbucks: Not A Well-Conceived CEO Succession Plan - SeekingAlpha 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. The airline is now focused on promoting Muslim Also, the manager of a company's ethical duty is to hire people that seems best for the job and not based on the color of their skin. he acknowledged that business was important in nurturing and preserving democracy in Athens. Starbucks is opening small cafes half the size of existing cafes. Starbucks CEO Kevin Johnson earned a $1.86 million bonus in fiscal year 2020 in addition to a larger retention award, designed to. including surveys or social media, for example. AACSB: Ethics, Difficulty: Easy In the Supreme Court ruling Citizens United v. Federal Election Commission, which Amendment was at the center of the case? Starbucks set out on its current course in the 1980s . protect than a trademark or patent. They need to develop sustainable sources of quality beans. Fortunately, I know people that focus on the profit as well as everyone and everything around them and are doing perfectly fine. Answered over 90d ago. Humongous Bank is the only bank in the economy. Which insurance covers the damage to the fire hydrant? Pellentesque dapibus efficitur laoreet. PR Related Events and Strategies & Tactics Used Timeline of Key PR Related Events B. urban and suburban communities* c. media Norfolk Southern Derailment Sparks Rail Regs Scrutiny - Law360 Consumers support big box stores that offer quality goods and reasonable prices, Which of the following are Starbucks' stakeholders? . C. environmental agencies Summary. Defence Equipment & Support (DE&S) hiring Senior Cost Estimator in Starbucks has also faced lawsuits concerning efforts to withhold tips from employees. From the beginning, Starbucks set out to be a different kind of company. Starbucks Stakeholder Analysis | Blablawriting.com Which of the following definitions best describes mercantilism? the belief that business is not culturally neutral. __ A program where students work on campus to earn money. Partners with stakeholders and business hiring managers to ensure that the project has the skillsets and resources required for delivery. uproar. Which of the following describes the efficacy of legislation like the California Transparency in Supply Chains Act? Pellentesque dapibus efficitur laoreet. To construct a p-chart for a manufacturing process, 25 samples of size 200 were drawn from the process. b. standards of behavior A firm's vision is the foundation for its mission. Which of the following is not an example of a stakeholder? A) Political D. It is effective because it expects NGOs, state governments, and political action committees to The most important function of the board of directors is to hire the president or OSX Ethics TB Ch03 Defining And Prioritizing Stakeholders Which of the following is the lesson learned from the Edsel story? When expanded it provides a list of search options that will switch the search inputs to match the current selection. a. implementation of values b. courage, honor, and loyalty Starbucks Stakeholder Analysis - 1096 Words | Cram FedEx and UPS. AACSB: Ethics, Application. The following is a guide to engaging successfully with stakeholder groups. Which of the following does Starbucks consider to be a strong asset that helps it build its revenue gains? Starbucks Corporation - Press Releases - Financial Releases The coffeehouse company must strengthen its competitive advantages accordingly. Consumer feedback on social media sites does not affect a company's prospects or status as ethical. a positive bottom line. AACSB: Application, Difficulty: Easy As for ethical duties, they are standards based on human principles of right from wrong. Starbucks continually emphasizes its commitment to corporate social responsibility. (Select all that apply. Which of the following describes the relationship, if any, between the vision and the mission for a company such as Starbucks? Which of the following are Starbucks' stakeholders? which are the universal principles of behavior? Those men later settled There are dedicated sites 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. be detrimental to a company. Which of the following is not a belief that businesses hold? consumed by 20% of the worlds population. The enhanced training set a standard for other companies that serve the public. Which Stakeholder Is Most Important Is Always Shown By - Bloomerang A company's Board of Directors is responsible for guiding CEO succession, which should be a well-planned event. AACSB: Real-world, Difficulty: Easy CSR and greenwashing are the same concepts. 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. 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. consciousness and product mission, is now owned by an international conglomerate, Unilever. If those entrepreneurs have good morals, it will come natural and it will show. 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. 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? Nam lacinia pulvinar tortor nec facilisis. 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. which are the universal principles of behavior? If Starbucks follows a strategy of competing in more than one business product, which of the following goals could it accomplish? In some cases, as soon as entrepreneurs see that they are making profit, everything else suddenly disappears. Its normal and keeps things interesting in my opinion. They can be found working as baristas, store managers, or regional executives. even perhaps industry standards? In 1968, Securities and Exchange Commission v. Texas Gulf Sulphur Co. implicated the employees of a Texas mining company and was the first famous case example of ________. Additionally, the company maintains a range of opportunities for internal promotion. It is insufficient to have a mission statement, language on a website, or Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. B. government liaison/lobbying director Which of the following is especially important for developing and maintaining employee loyalty to the brand? . (Select all that apply.). Starbucks baristas are paid above the minimum wage, even at the entry-level position. Starbucks was founded by Jerry Baldwin, Gordon Bowker, and Zev Siegl, opening its first store in 1971 near the historic Pike Place Market in Seattle. Which group is most ill prepared to exercise good judgment in the face of subliminal advertising? March 16, 2022 4 min read. Starbucks Coffee Company supports its competitive advantages through the characteristics of its corporate structure. welfare for two reasons: It is good for business and the right thing to do. It has had success in the United States Which of the following are factors included when applying a legal definition of diversity? Miles, S. (2012). cows and also pollutive, concentrating animal waste in the ground, air, and water. B. occurs during the monthly vulnerability scanning. AACSB: Application, Ethics, Difficulty: Moderate b. the doctrine that a corporation has some of the same legal rights and responsibilities enjoyed by natural persons Do you think she believes the brain chemistry of romantic love and the response to rejection is rational or irrational? The number of defectives in each sample is listed in time order in the table that follows. He has the following security-related information: Parvalue$1,000Couponinterestrate6%Taxbracket20%Cost$930Yearstomaturity10\begin{array}{llll} Which of the following actions are needed to implement Howard Schulz's strategy of putting Starbucks' innovation on display? For that law, companies are. $16.7 Million To Save One Reputation: How Starbucks Responded Amidst a Sample Answer: MITRE is a five-step guide to stakeholder assessment and management. (A)[1,3](B)[0,2](C)[3,4]. Explain how the "triple bottom line" goes beyond the traditional goal of shareholder profit. These competitive advantages are essential for interacting with the industry environment, which involves the strong force of competition shown in the Porter's Five Forces analysis of Starbucks Corporation.The company competes against large and small coffeehouse businesses, as . a. humanity in ethics The firm issued $3 billion in bonds, taking advantage of the. Capitalism, corporations and the social contract: A critique of stakeholder theory. Blooms: Apply B. shareholders Nam lacinia pulvinar tortor nec facilisis. How does consumer thought affect purchasing? 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. Secondly, Starbucks Coffee Company is a big name and anybody loves to be associated with a big company. For ex. This is viewed All stakeholders must be treated the same. Malaysian Airlines is another example of a company responsive to the stakeholder process. D. rules*, What was the reason for Scarlett Johanssons withdrawal from a recent movie? 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). Blooms: Analyze, Evaluate 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. Stakeholders To contribute to sustainable development inside a 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? Blooms: Apply Answer: False, True or false? A trade secret is a form of intellectual property protection and is easier to protect than a trademark or patent. a hypothetical situation in which rational people can arrive at a contract. Blooms: Apply A trade secret is a form of intellectual property protection and is easier to The first challenge an employer may face in providing reasonable accommodations under the ADA for employees is trying to find a way on how to get an employee to work or even a substitute on short notice when that same employee is having a hard time getting to work on time because of the medical treatments he/she is undergoing.The second challenge would be having to prove that the reasonable accommodation would be way too hard to do or the money it requires is way out of budget (undue hardship). To achieve a greater degree of diversity in the workplace, managers' goals should encompass which of the following? Interacts directly with business stakeholders to understand business problems and to communicate ramifications of technical options; Presents recommendations clearly and persuasively to support business stakeholder decisions; Influences and negotiates with business and technology teams across Starbucks to resolve issues Blooms: Understand, Apply An analysis of perceived priority of shareholder impact should include which of the following? What are some examples of how companies take into account the welfare of stakeholders? AACSB: Application, Real-world, Difficulty: Moderate Some prioritization is particular to Entrepreneurs can still remain ethical while focusing on profit because they can't afford to have people disliking them as well as creating drama. have? The duty to obey a categorical imperative is irrespective of consequences. Environmentalists raise the issue of species and Which of the following sources of ethical guidance for businesses includes criminal penalties? (a) What is Friar Lawrence's plan for Juliet? Course Hero is not sponsored or endorsed by any college or university. marketplace, Starbucks has an opportunity to lead by example. a. her portrayal of the character was insincere (Select all that apply.). Operations Management questions and answers. Sample Answer: Greenwashing is the view that companies are acting superficially or are Starbucks Corporation application developer sr Job in Seattle, WA A. milk producers* * c. Citizens United Blooms: Application Intellectual- includes knowledge, wisdom, and prudence (the most important one). d. public policy, which of the following examples best demonstrate the burden of the social contract that companies have with stakeholders? Customers still enjoy the product and yet competition is growing. Starbucks's Organizational Structure & Its Characteristics Answer: True, True or false? Lorem ipsum dolor sit amet, consectetur adipiscing elit. this is an example of.. (Select all that apply.) d. cap and trade tax, a " moral minimum" means which of the following? (Select all that apply. B. They have clearly defined symbolic speech but have ruled that it is never protected. Which of the following is an example of an external stakeholder of an organization? If you feel harassed, prejudiced against, or disadvantaged in your workplace, you may file a complaint with the ________. 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? Explain Lynn Stouts view of the role of shareholders and the implication for stakeholder Many baristas have eventually become managers and worked their way up into higher positions within management (Mitchell, Agle, & Wood, 1997). c. is an unattainable goal of perfect virtue Difficulty: Difficult Take airbnb for example, accommodations are not inspected while in a hotel, they are. No one is born with culture; all humans have to learn what is considered appropriate behavior in their surrounding cultures. 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. ), milk producers companies that intentionally keep hours at less than 29 to avoid more costly regulations like the ACA To uphold honorable standards of behavior. nature as stakeholders. A. her portrayal of the character was insincere The traditional approach to business ethics that has been championed by many corporate leaders echoes the sentiments of the late Nobel Laureate economist Milton Friedman, who famously stated that corporations ultimately have no ethic responsibilities other than to increase the value of the corporation for shareholders. Managing and executing the strategy of a company Technology companies such as Facebook, Apple, and Yahoo (now owned by Verizon) have reported gender and ethnic shortfalls in their workforces. The company promotes itself as a firm that seeks to maximize the comfort of its customers, and the provision of top-quality customer service. Has opportunity to lead a team. One big issue access economy has is lack of regulations, especially when it comes to overseeing the products and services exchanged during the transaction. Starbucks Challenges: Current Issues Faced by Starbucks | Business About Path Since its foundation in 1984, PATH (People Assisting The Homeless) has pioneered bold and effective approaches to assist people experiencing homelessness. AACSB: Real-world, C. greenwashing [Solved] Read the following scenario and use the following five key AACSB: Analytical, Difficulty: Easy There are also organizations. (Select all that apply.) Participate in and support community . 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. 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 . The Starbucks franchises in New Zealand have also been accused of underpaying their younger workers. A. chief legal officer What is a measure that accounts for an organization's results in terms of its effects on profits, planet, and people? Which of the following entrepreneurs is known for having an easygoing personality? Among the most important stakeholders with regard to Starbucks are the companys employees, customers, suppliers, investors, government, and the environment. Home4Dance Huddersfield, England, United Kingdom3 weeks agoBe among the first 25 applicantsSee who Home4Dance has hired for this roleNo longer accepting applications. a. he viewed those outside economic and political circles as virtuous It is also competing with companies like Peet's Coffee & Tea Company, which have more exclusive products. "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. What has unfolded at Starbucks is anything but. Which of the following are Starbucks' stakeholders? (Select all chief executive officer. Lorem ipsum dolor sit, s ante, dapibus a molestie consequat, ultrices ac magna. 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'Group stronger, more adaptive' - trinidadexpress.com Most business organizations hold three different kinds of beliefs about themselves. Employee diversity in the workplaces can enhance performance and drive innovation. c. he believed one secures one's own good outside of political science We are, therefore, After 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. Thirty years ago, Starbucks was a single store in Seattle's Pike Place Market selling premium-roasted coffee. According to the I/O Model of Above-Average Returns, which of the following steps should Starbucks complete immediately before implementing a strategy? Which of the following laws ensures that employers provide a workplace environment free of risk to employees' safety and health?
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