Which of the following is not a belief that businesses hold? The airline is now focused on promoting Muslim STEP 1: DEFINE STAKEHOLDER ENGAGEMENT Discuss the meaning of stakeholder engagement. Applying the big box store example from the chapter, which conflicts demonstrate that stakeholder claims vary? A trade secret is a form of intellectual property protection and is easier to protect than a trademark or patent. b. globalization About Starbucks Since 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting high-quality arabica coffee. Supply Chains Act also implicates the welfare of stakeholders. Community members may view big box stores as a threat to small businesses' livelihood. The number of defectives in each sample is listed in time order in the table that follows. One that not only. AACSB: Application, Analytical, Difficulty: Moderate Answer: False, True or false? Their concerns are identified through data gathering and analysis, When expanded it provides a list of search options that will switch the search inputs to match the current selection. 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. 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? Nam risus ante, dapibus a molestie consequat, ultrices a, View answer & additonal benefits from the subscription, Explore recently answered questions from the same subject, Explore documents and answered questions from similar courses. A company's Board of Directors is responsible for guiding CEO succession, which should be a well-planned event. Starbucks prioritizes employees in its corporate social responsibility efforts. b. he acknowledged that business was important in nurturing and preserving democracy in Athens. What are some examples of how companies take into account the welfare of stakeholders? 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 . the belief that business is not culturally neutral. 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 . Answer: False, True or false? b. ethical principles that apply everywhere despite differences in time, geography and culture Phillips, R. (2003). Answered over 90d ago. Which of the following is especially important for developing and maintaining employee loyalty to the brand? B. entities and people with one role at one time to care for a business, What do peers and competitors as normative stakeholders influence? 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. d. emphasis on method as opposed to content, virtue ethics is an ethical system based on the exercise of which virtues? d. cap and trade tax, a " moral minimum" means which of the following? Which of the following are Starbucks' stakeholders? Therefore, some employees work for Starbucks to gain that status. It also changed its policy of allowing noncustomers to visit its stores and use restrooms. Today, with over 32,000 stores around the globe, the company is the premier roaster and retailer of specialty coffee in the world. Quality Glossary Definition: Stakeholder. Donec aliquet. A. milk producers* B. urban and suburban communities* C. coffee and tea growers* D. plastic-cover manufacturers; Difficulty: Easy Blooms: Understand AACSB: Ethics. 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. He has the following security-related information: Parvalue$1,000Couponinterestrate6%Taxbracket20%Cost$930Yearstomaturity10\begin{array}{llll} Starbucks has also faced lawsuits concerning efforts to withhold tips from employees. c. Samsung assumed the risk of exposure and picked up the washers If you feel harassed, prejudiced against, or disadvantaged in your workplace, you may file a complaint with the ________. The coffee farmers supply coffee to Starbucks. Secondary stakeholders are media outlets, government, enviromentalist groups, and their competitors. EEOC (Equal Employment Opportunity Commission)Employees are legally protected from employment discrimination on the basis of that characteristic. Miles, S. (2012). Defectives16149111581216171315109121411871215916131110\begin{aligned} Blooms: Analyze, Evaluate Fu, itur laoreet. From the beginning, Starbucks set out to be a different kind of company. They 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. Summary. Which of the following are Starbucks' stakeholders? b. standards of behavior Financial Analysis of PUMA and Nike, Inc. Starbucks Stakeholders: Employees and Customers. &\text { Defectives }\\ AACSB: Analytical, Difficulty: Moderate Felix Madison has $10,000 worth of property damage insurance and a$1,000 deductible collision insurance policy. 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. a. humanity in ethics So many customers now . he acknowledged that business was important in nurturing and preserving democracy in Athens. Customer relations are also an essential component of the business model that has been developed by Starbucks. Starbucks is opening small cafes half the size of existing cafes. the risk of stakeholder displeasure and critique, which could result in bad publicity for a Starbucks is a global coffee company that has a diverse group of stakeholders who have an interest in the company's performance and actions. Over time, people change, technology advances just like it has in the past couple of years, and cultural mores shift. 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? C. her portrayal of the character offended shareholders Sample Answer: Companies must take into account the welfare of stakeholders because it is C. Defining a companys ongoing mission* The company promotes itself as a firm that seeks to maximize the comfort of its customers, and the provision of top-quality customer service. C. environmental agencies want companies to treat stakeholders well to encourage customer and employee loyalty. Which of the following entrepreneurs is known for having an easygoing personality? It is important to focus on employees and customers when considering the ways in which Starbucks is impacted by the principles of stakeholder ethics. 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? 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. essence of Stouts view is concern that shareholders may want to maximize their investment at It is ineffective because it only requires disclosure of information about suppliers' working conditions and does not govern those suppliers. The normative approach most appropriately (Select all that apply.) In the United States, Ikea displays (Select all that apply.). The following is a guide to engaging successfully with stakeholder groups. (Select all that apply. Which of the following are factors included when applying a legal definition of diversity? 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 Corporations, directors and managers are all protected by laws saying that in most circumstances, their losses in case of business failure cannot exceed the amount they paid for their shares of ownership. d. Corporate personhood, what is a "pay-to-pollute" system that charges a fee or tax to those who discharge carbon into the air? Consumer feedback on social media sites does not affect a company's prospects or status as ethical. Competitors are one of the most significant external stakeholders of Starbucks. stresses that a company must sustain trust with stakeholders. Describe what type of goal each is. Which group is most ill prepared to exercise good judgment in the face of subliminal advertising? Difficulty: Difficult The phrases Starbucks and Coffee were later removed from the cup so that the brand might potentially extend beyond coffee products. company. What is a measure that accounts for an organization's results in terms of its effects on profits, planet, and people? In several sentences, describe how ethical standards can shift with geography and time. Thus, Ikea changed in response to consumer Which of the following are well-documented outcomes? gender Managing and executing the strategy of a company Observing the company's liquidity, Starbucks has around $2.6 billion in cash and short-term borrowing facilities of $3.5 billion. Develop or acquire assets and skills needed to implement the strategy. Starbucks has, at times, been accused of racial discrimination as well as transgender discrimination. ), milk producers Too Short! c. the theory that global wealth is static and prosperity comes from wealth through extraction Starbucks operates in more than 80 markets, either in the form of direct company-owned stores or licensed stores. protect than a trademark or patent. c. Assume that Humongous bank is part of a multibank system. Cambridge: Cambridge University Press. b. 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. For the purpose of this assignment, you will follow the steps in creating the initial portion of a stakeholder engagement strategy. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. All Rights Reserved. social media, they are apt to speak up about their customer experience. Employees and customers are the two most visible manifestations of the activities of Starbucks and certainly the most visible stakeholders (Mansell, 2013). Starbucks set out on its current course in the 1980s . * chief executive officer. c. media d. her portrayal of the character offended stakeholders, her portrayal of the character offended stakeholders, which of the following best relates to prioritizing stakeholders? c. actions a firm undertakes to satisfy the base threshold for acting ethically 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. 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. Starbucks that would result in change to the issue of racism in America. d. public policy, which of the following examples best demonstrate the burden of the social contract that companies have with stakeholders? A. her portrayal of the character was insincere (Select all that apply. Blooms: Understand inauthentic in carrying out corporate social responsibility when the company already has safeguard properties lawsuit 2017; syl johnson chad ochocinco father stakeholders. Blooms: Apply Sample Answer: Customers are articulate about their views of a company. Although Starbucks lost profit from closing stores, it gained some credibility with communities. Another example is a future stakeholder, whose status will arise during later b. Sarbanes-Oxley 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. nature as stakeholders. The crash caused$1,600 in damages to his car. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. A firm's vision is the foundation for its mission. Furthermore, there is Consult with business partners, managers or other key stakeholders. Blooms: Remember AACSB: Ethics, Difficulty: Easy (Starbucks does not follow the traditional franchising terms.) Consumers support big box stores that offer quality goods and reasonable prices, Which of the following are Starbucks' stakeholders? 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 Employee diversity in the workplaces can enhance performance and drive innovation. d. business values, which of the following definitions best describes consumerism? Often there is a hierarchy that places consumers or customers first. Blooms: Apply Which of the following statements does not depict deontology? P3-1. Which seven-step guidelines are designed to help organizations with compliance and reporting? STARBUCKS CASE PART 3 - GROUP 1.
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