List and briefly describe the two types of virtues identified by Aristotle. 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. C. legal compliance* It has had success in the United States 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 Laws dictate all ethical responsibilities that a company may owe key c. Samsung assumed the risk of exposure and picked up the washers training. Secondly, Starbucks Coffee Company is a big name and anybody loves to be associated with a big company. b. courage, honor, and loyalty Utilitarianism (the first normative approach to)- an ethical action is one whose consequence achieves the greatest good for the greatest number of people. A trade secret is a form of intellectual property protection and is easier to Which of the following actions are needed to implement Howard Schulz's strategy of putting Starbucks' innovation on display? urban and suburban communities Which of the following are Starbucks' stakeholders? (Select all that apply. Answer: False. Starbucks Coffee Company supports its competitive advantages through the characteristics of its corporate structure. via the notion of what constitutes necessity as opposed to luxury. Deontology is often regarded as a "here and now" philosophy. Which of the following is not a belief that businesses hold? These are standard stakeholders of almost every business that operates in the United States or overseas. 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. extensive pool of talent. the importance of companies considering the priority of such parties. 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. Establish trust. Blooms: Apply (promenades; tarries). Describe what type of goal each is. ), Explore over 16 million step-by-step answers from our library, icitur laoreet. \end{array} AACSB: Application, Difficulty: Easy f(x)=x48x2+16f(x)=x^{4}-8x^{2}+16 (Select all that apply.). Quality Glossary Definition: Stakeholder. 100 %. 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. Explain Lynn Stouts view of the role of shareholders and the implication for stakeholder that uses billions of liters of water in a community where many people are without water. A firm's vision is the foundation for its mission. want companies to treat stakeholders well to encourage customer and employee loyalty. Do companies have the responsibility to market their products with integrity? Ben & Jerrys, an ice cream company known for its founders social and China, for example, by adapting to local cultural norms. 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? Henry Ford must operate Ford Motor Company primarily to maximize profit for its shareholders. Participate in and support community . Managing and executing the strategy of a company A bribe is given with either an explicit or implied expectation of return that will benefit your business while a gift is given without any expectation of return and does not benefit your business. Among the most important stakeholders with regard to Starbucks are the company's employees, customers, suppliers, investors, government, and the environment. Select a product or service that will be sustainable. 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". How are Ben & Jerrys and Coca-Cola respective examples of greenwashing? Also, it is crucial that the company inform Blooms: Understand Many baristas have eventually become managers and worked their way up into higher positions within management (Mitchell, Agle, & Wood, 1997). Answer: True, True or false? There are dedicated sites D. stakeholder prioritization, Difficulty: Easy In a short paragraph, explain how entrepreneurs can still remain ethical while focusing on profit. All Rights Reserved. What constitutes a reasonable profit may be unfair. d. Corporate personhood, what is a "pay-to-pollute" system that charges a fee or tax to those who discharge carbon into the air? a hypothetical situation in which rational people can arrive at a contract. Blooms: Apply &\text { Defectives }\\ Journal of Management, 34(6), 11521189. A diverse workforce yields many positive outcomes for a company. Which of the following are well-documented outcomes? 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? d. he thought money should only be allowed for those in trades. Another example is a future stakeholder, whose status will arise during later Which of the following does Starbucks consider to be a strong asset that helps it build its revenue gains? 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. Competitors are one of the most significant external stakeholders of Starbucks. In the United States, Ikea displays B. Supervising middle and senior management Starbucks Corporate Technology's BI & Analytics team works to achieve this . Which is the best example of a novelty craze? Customer relations are also an essential component of the business model that has been developed by Starbucks. and avoiding bias. 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. Which of the following are Starbucks' stakeholders? Starbucks prioritizes employees in its corporate social responsibility efforts. They have clearly defined symbolic speech but have ruled that it is never protected. The number of defectives in each sample is listed in time order in the table that follows. c. Assume that Humongous bank is part of a multibank system. Starbucks confirmed the results of the vote to CNN Business. Once data are validated, managers present the Starbucks then took the step to close its thousands of US stores to conduct racial bias than as a means to achieve better financial results. The three Starbucks founders had two things in common: they were all coming from academia, and they all loved coffee and tea. To achieve a greater degree of diversity in the workplace, managers' goals should encompass which of the following? Which of the following is not an example of a diffused shareholder? b. corporations need to maintain initial priority of stakeholders Global store sales increased 20% year-over-year, led by a strong 22% average increase in sales across all North American stores. A normative approach views stakeholders as ends in themselves rather To construct a p-chart for a manufacturing process, 25 samples of size 200 were drawn from the process. Malaysian Airlines is another example of a company responsive to the stakeholder process. c. coffee and tea growers 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. Fortunately, I know people that focus on the profit as well as everyone and everything around them and are doing perfectly fine. people do not need some of the promoted products or services. (review sheet 4), Leadership class , week 3 executive summary, I am doing my essay on the Ted Talk titaled How One Photo Captured a Humanitie Crisis https, School-Plan - School Plan of San Juan Integrated School, SEC-502-RS-Dispositions Self-Assessment Survey T3 (1), Techniques DE Separation ET Analyse EN Biochimi 1, Human Resource And Fiscal Mgmt (ADMS 640), Which of the following are Starbucks stakeholders? D. Present information to the board of directors. Yet there being committed to ethical business practices. D. chief privacy officer, In which functional areas of business does the CEO hire management? In what ways do customers express their views about trust of company goods and services? One big issue access economy has is lack of regulations, especially when it comes to overseeing the products and services exchanged during the transaction. 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? Stakeholder theory and organizational ethics. In several sentences, describe one ethical draw-back of job-sharing. AACSB: Ethics, Difficulty: Easy a. the "purchase" of Manhattan consumed by 20% of the worlds population. 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. C. chief executive officer* 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? Select the best answer. Cambridge: Cambridge University Press. Sample Answer: Ikea is a multinational furniture store. 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. What is a measure that accounts for an organization's results in terms of its effects on profits, planet, and people? If you feel harassed, prejudiced against, or disadvantaged in your workplace, you may file a complaint with the ________. operations (CAFO). 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 . Accordin to Freeman (1984), stakeholders are anyone that can influence or be influenced by the company's actions. d. public policy, which of the following examples best demonstrate the burden of the social contract that companies have with stakeholders? Supply Chains Act also implicates the welfare of stakeholders. 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. b. code of ethics March 16, 2022 4 min read. 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. The normative approach most appropriately AACSB: Application, Difficulty: Easy It is not necessary to conduct extensive market research. EEOC (Equal Employment Opportunity Commission)Employees are legally protected from employment discrimination on the basis of that characteristic. A. industry norms* Consider Fisher's remarks in the last two paragraphs. c. marketing C. Gather and analyze appropriate data. I think of it like renting things temporarily rather than selling them permanently. Pellentesque dapibus efficitur laoreet. d. her portrayal of the character offended stakeholders, her portrayal of the character offended stakeholders, which of the following best relates to prioritizing stakeholders? It is insufficient to have a mission statement, language on a website, or 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. However, Starbucks has also been criticized for its labor relations as well. There are also organizations. changes. Draw a T-account for the bank. D. plastic-cover manufacturers, Which are some types of stakeholder relationships that a local chamber of commerce would Blooms: Understand, Apply It is also competing with companies like Peet's Coffee & Tea Company, which have more exclusive products. Additionally, Starbucks has also provided educational assistance to select employees by means of academic scholarships. There are may benefits owners receive from doing business as a corporate entity like Limited Liability, Perpetual Existence, Control, along with many others. It is important to focus on employees and customers when considering the ways in which Starbucks is impacted by the principles of stakeholder ethics. The international standard providing guidance on social responsibility, called ISO 26000, defines a stakeholder as an "individual or group that has an interest in any decision or activity of an organization." Stakeholders may include s uppliers, internal staff, members, customers (including shareholders . Speaking at the annual shareholders meeting in . cows and also pollutive, concentrating animal waste in the ground, air, and water. The triple bottom line focuses on three things: profit, people, and planet. Phillips, R. (2003). Make a list of Starbucks' goals. d. They have ruled that symbolic speech is always protected. be detrimental to a company. AACSB: Analytical. Blooms: Apply b. Samsung's warned customers that the machines could tip over A company's Board of Directors is responsible for guiding CEO succession, which should be a well-planned event. Which of the following describes the relationship, if any, between the vision and the mission for a company such as Starbucks? Nam lacinia pulvinar tortor nec facilisis. Describe Kant's "Deontology" view of ethics. protect than a trademark or patent. 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. Lorem ipsum dolor sit amet, consectetur adipiscing elit. 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? How can entrepreneurs best ensure their customer-service vision is passed on to employees? In China, Ikea allows its visitors to take naps on a. business should behave ethically, focusing only on environmentalism JFR Crew Member applicants must be a full-time high school student between the ages of 16-18 as of July 1 of the current year. For that law, companies are. b. means supporting dogmatic rationality 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? Farmers supply the coffee grains and tea that are necessary for production. Sample Answer: Greenwashing is the view that companies are acting superficially or are essence of Stouts view is concern that shareholders may want to maximize their investment at Which of the following is an example of an external stakeholder of an organization? 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. The crash caused$1,600 in damages to his car. Consult with business partners, managers or other key stakeholders. Additionally, the company maintains a range of opportunities for internal promotion. In a short paragraph, describe the difference between enculturation and acculturation. even perhaps industry standards? represents ethical stakeholder theory. Thirty years ago, Starbucks was a single store in Seattle's Pike Place Market selling premium-roasted coffee. This includes Mexico, which has a Coca-Cola plant This file is copyright 2019, Rice University. D. compensation. Many people in the UK will have a product from Thornton & Ross somewhere at home. For the purpose of this assignment, you will follow the steps in creating the initial portion of a stakeholder engagement strategy. The main difference between a bribe and a gift is intent. Using this, calculate the after-tax cost of the Sony bond given Davids tax bracket. Consumers are demanding more than "product" from their favorite brands. The environment is not considered a stakeholder. When expanded it provides a list of search options that will switch the search inputs to match the current selection. Stakeholders: Essentially contested or just confused? Which commercial transaction in the New World exemplifies the complexity that results when different cultures, experiences, and ethical codes come into contact? Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. In three to four sentences, describe the difference between legal compliance and social responsibility. Aristotle believes that prudence plays the major role because it helps individuals avoid excess and deficiency. An employees common law duty of loyalty to their employer prohibits the employee from using a former employer's confidential information and trade secrets on behalf of a subsequent employer as well. Pellentesque dapibus efficitur laoreet. Difficulty: Difficult b. set of cultural norms b. competitors 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. The company has. Job Summary and Mission. Felix Madison has $10,000 worth of property damage insurance and a$1,000 deductible collision insurance policy. A. minority- and women-owned small business owners* Which of the following sources of ethical guidance for businesses includes criminal penalties? 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. CAFOs are condemned by animal rights activists as being harmful to the 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. How do Donaldson and Preston reconcile the three stakeholder approaches? How much will money supply increase with that original loan of $19 million? The people in this economy have $20 million in money, and they deposit all their money in Humongous Bank. Cross), Give Me Liberty! AACSB: Application, Difficulty: Moderate 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. B. local and regional governments* c. her portrayal of the character offended shareholders B. urban and suburban communities* For the long term, business operations need to inculcate stakeholder Each employee prides in working in an organization that acknowledges his efforts. Having theoretical approaches to stakeholders highlights c. a business owner's protection against loss of personal assets It also changed its policy of allowing noncustomers to visit its stores and use restrooms. Laplume, A., Karan, S. & Litz, R. (2008). Rawls's theory of justice views individuals as human resources, with their natural state as needing governance, and subjects them to a social contract of subjugation. No.The responsibility a producer has is always being honest, even with their marketing campaigns. Fu, itur laoreet. Donec aliquet. : an American History (Eric Foner), Psychology (David G. Myers; C. Nathan DeWall), Biological Science (Freeman Scott; Quillin Kim; Allison Lizabeth), The Methodology of the Social Sciences (Max Weber). A. milk producers* B. urban and suburban communities* C. coffee and tea growers* D. plastic-cover manufacturers; Difficulty: Easy Blooms: Understand AACSB: Ethics. The coffee farmers supply coffee to Starbucks. The main reason for forming a corporation is to limit the liability of the owners. A. milk producers* 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. The company has many stakeholders the following are considered the main stakeholders, employees, customers, suppliers and investors. b. the challenges of outsourcing production to lower cost and increase profits Explain how the "triple bottom line" goes beyond the traditional goal of shareholder profit. 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? Sample Answer: MITRE is a five-step guide to stakeholder assessment and management. Academy of Management Review, 22(4), 853886. AACSB: Application, Real-world. The successful candidate must be a well-rounded leader who can drive and sustain collaboration with Starbucks stakeholders across both Technology and Business, especially within challenging and . He has the following security-related information: Parvalue$1,000Couponinterestrate6%Taxbracket20%Cost$930Yearstomaturity10\begin{array}{llll} They can be found working as baristas, store managers, or regional executives. Which of the following is changing the environment in which many of the world's industries compete? Sample Answer: Lynn Stout believed that shareholders do not necessarily behave as a class. Donec aliquet. As Starbucks, we can either choose to rise to this moment or stand idle. Blooms: Application This can be a consumer who is unable to express their discontent with a product or Select the best answer.

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