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. In the United States, Ikea displays A firm's vision is the foundation for its mission. Employees are dissatisfied with the trust they receive from management and are seeking "representation" through unions. Which of the following does an entrepreneur typically need to be willing to do to start a business? Its normal and keeps things interesting in my opinion. What CSR lesson did Starbucks convey when it closed its stores for a day? 16 & 14 & 9 & 11 & 15 & 8 & 12 & 16 & 17 & 13 & 15 & 10 & 9 \\ Among the most important stakeholders with regard to Starbucks are the companys employees, customers, suppliers, investors, government, and the environment. How is Starbucks diversifying in India to fit into the local culture? AACSB: Ethics, Difficulty: Easy For Starbucks, its major stakeholders include employees, customers, suppliers and stockholders. The California Transparency in Coffee and tea growers are Starbucks ' main stakeholders who supply the needed raw materials. Managing and executing the strategy of a company extensive pool of talent. Answered over 90d ago. Starbucks CEO Kevin Johnson earned a $1.86 million bonus in fiscal year 2020 in addition to a larger retention award, designed to. Blooms: Understand c. They have extended protections to only some forms of symbolic speech. D. compensation. b. Sarbanes-Oxley The phrases Starbucks and Coffee were later removed from the cup so that the brand might potentially extend beyond coffee products. 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. There is a growing recognition of the need for corporate accountability. Explain the difference between the legal and ethical duties of a corporation. Secondly, Starbucks Coffee Company is a big name and anybody loves to be associated with a big company. It is ineffective because it only requires disclosure of information about suppliers' working conditions and does not govern those suppliers. (Select all that apply. d. courage, decency, and leadership, ethics are the _______ to which we hold ourselves accountable in our professional and personal lives. About Starbucks Since 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting high-quality arabica coffee. A. milk producers* U.S. firms and their employees are allowed to use bribery in other countries if allowed by local legal and cultural differences. Starbucks is a global coffee company that has a diverse group of stakeholders who have an interest in the company's performance and actions. It is insufficient to have a mission statement, language on a website, or Customers still enjoy the product and yet competition is growing. mysterious plane crashes, the Malaysian government (a stakeholder) and private investors hired a 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 emphasis was on One way to address the issue of shared responsibility between corporations and society is the implementation of a(n) ________. B. 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 ________. Blooms: Apply In other words, enculturation is taking control over one's own culture, whereas acculturation is the merge of two cultures. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. 12 & 14 & 11 & 8 & 7 & 12 & 15 & 9 & 16 & 13 & 11 & 10 & Enculturation and acculturation seem very alike but when paying close attention, the differences start to pop out. via the notion of what constitutes necessity as opposed to luxury. Of course companies have the responsibility to market their products with integrity because without them, the business would be no where. Pellentesque dapibus efficitur laoreet. b. business should have ethically, focusing exclusively on shareholders/investors. (promenades; tarries). Some Starbucks stores have been accused of deliberately higher only part-time workers for limited numbers of hours for the purpose of avoiding the provision of healthcare and other benefits. Which of the following are Starbucks' stakeholders? b. Humongous Bank is required to hold 5% of its existing$20 million as reserves, and to loan out the rest. What was the decision? What are some amenities companies offer employees that go beyond a legal minimum or In the case of Coca-Cola, its website discusses stakeholder engagement in a Yet there a. courage, decorum, and accountability c. he believed one secures one's own good outside of political science Which seven-step guidelines are designed to help organizations with compliance and reporting? Answered over 90d ago. social media, they are apt to speak up about their customer experience. Maintain strategic stakeholder engagement by working alongside fellow Project Delivery teams, Senior Management and your customers delivery lead/function to identify strategic issues; Oversee the quality assurance of estimates or model within the function to ensure they are fit for purpose Explain an employee's common law duty of loyalty to their employer. Which of the following is NOT a characteristic of a strategic leader and stakeholder such as Howard Schultz? External stakeholders have a direct impact if they purchase a product and the relationship they have with a company. 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? Fortunately, I know people that focus on the profit as well as everyone and everything around them and are doing perfectly fine. 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. Observing the company's liquidity, Starbucks has around $2.6 billion in cash and short-term borrowing facilities of $3.5 billion. Another example is a future stakeholder, whose status will arise during later a. pollution tax Answer: False. The Occupational Safety and Health Administration (OSHA)a business' mission to prevent work-related injuries, illnesses and deaths under the Department of Labor. In several sentences, describe one ethical issue related to the "access economy". (Select all that apply.) Download Assets. Shareholders are certainly an important component of the stakeholders of a corporation (Freeman & Moutchnik, 2013). Answer: False. a. customers are not considered high-priority stakeholder The two complaints most frequently filed with the Equal Employment Opportunity Commission, which strives to eliminate racial, gender, and religious discrimination in the workplace, are sexual harassment and racial harassment. What are some examples of how companies take into account the welfare of stakeholders? 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. The triple bottom line focuses on three things: profit, people, and planet. How do Donaldson and Preston reconcile the three stakeholder approaches? AACSB: Ethics, Difficulty: Easy Berrett-Koehler Publishers. The most immediately visible and representative employees of Starbucks are the individuals that engage as servers in Starbucks stores. For the long term, business operations need to inculcate stakeholder Financial Analysis of PUMA and Nike, Inc. Starbucks Stakeholders: Employees and Customers. Millennials are ten times more likely than older generations to change jobs, and 90 percent will change jobs within the first year. The main reason for forming a corporation is to limit the liability of the owners. Make a list of Starbucks' goals. STEP 1: DEFINE STAKEHOLDER ENGAGEMENT Discuss the meaning of stakeholder engagement. AACSB: Application, Real-world, Difficulty: Moderate uproar. d. They have ruled that symbolic speech is always protected. which are the universal principles of behavior? Bonus Eligible : Yes. (Select all that apply.) Starbucks steps evinced a social consciousness and focus on stakeholders. Draw a T-account for the bank. 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. B. urban and suburban communities* Blooms: Application CSR includes the duties a corporation many owe a duty to to benefit to many stakeholders, customers, the community, the environment, employees, media, and the government. Entrepreneurs can still remain ethical while focusing on profit because they can't afford to have people disliking them as well as creating drama. b. means supporting dogmatic rationality &\text { Defectives }\\ C. It is ineffective because it uses consumer stakeholders to pressure suppliers and make Stakeholders: Essentially contested or just confused? b. the doctrine that a corporation has some of the same legal rights and responsibilities enjoyed by natural persons A. wages Provide at least two examples of how employees' expectations of work have changed in modern business. Stakeholder management and CSR: Questions and answers. 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 . Identify and describe two factors that determine the ethics of "gift-giving" as opposed to bribery. Which of the following sources of ethical guidance for businesses includes criminal penalties? and China, for example, by adapting to local cultural norms. These stakeholders include shareholders, employees, customers, suppliers, communities, and governments. There are also organizations. What is the ethical issue behind issuing disaster insurance? Select the best answer. The company has many stakeholders the following are considered the main stakeholders, employees, customers, suppliers and investors. Which of the following are factors included when applying a legal definition of diversity? 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". Answer: False, True or false? 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 . Blooms: Apply While there are many disadvantages of job-sharing including need for additional supervisory time, possible disruption of work flow, scheduling challenges for training and meeting, but the worst one in my opinion is communication. 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. Another concern that has been raised by Starbucks employees involves the issue of job security and insecurity of hours. Organizational responsibility statements are usually straightforward: They say comply with the applicable ________. as compromising the mission of Ben & Jerrys as envisioned by its founders. Explain how owners benefit from doing business as a corporate entity. Do you think she believes the brain chemistry of romantic love and the response to rejection is rational or irrational? Miles, S. (2012). Defectives16149111581216171315109121411871215916131110\begin{aligned} b. code of ethics Starbucks primary stakeholders are their employees, customers, shareholders, investors, suppliers, coffee farmers, local communities, and other business partners. (Select all that apply.) b. Blooms: Apply Which of the following is not an example of a diffused shareholder? Starbucks confirmed the results of the vote to CNN Business. Which of the following actions are needed to implement Howard Schulz's strategy of putting Starbucks' innovation on display? which of the following most likely contributes to a corporation's positive work atmosphere over the long term? ventana canyon golf membership fees; what ships are in port at norfolk naval base? changes. have? c. customers are considered high-priority stakeholders Thus, Ikea changed in response to consumer a. the responsibility a company has regarding justice and care Which of the following are Starbucks' stakeholders? Community members may view big box stores as a threat to small businesses' livelihood. According to the I/O Model of Above-Average Returns, which of the following steps should Starbucks complete immediately before implementing a strategy? Blooms: Understand, Apply be detrimental to a company. d. he thought money should only be allowed for those in trades. 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. Which. Which is the best example of a recent company crisis caused by poor leadership? When expanded it provides a list of search options that will switch the search inputs to match the current selection. Here is a list of some of the most common external stakeholders your organization may work with: Customers Communities Which legislation was passed in 2002 that mandates reporting transparency by businesses in areas ranging from finance to accounting to supply chain activities? Consumer responsibility is diminished if advertising is directed toward children. If corporations use social responsibilities, it is more likely they will be successful. governance. B. marketing* AACSB: Application, Ethics, Difficulty: Moderate Which of the following is an example of an external stakeholder of an organization? 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). (Select all that apply.). Urban and suburban communities Starbucks Stakeholder Analysis. e. They have not directly addressed the matter of symbolic speech. The main difference between a bribe and a gift is intent. Environmentalists raise the issue of species and And there are two types of stakeholders, including the primary and seconday stakeholders ( Clarkson, 1995). training. A. As for ethical duties, they are standards based on human principles of right from wrong. Starbucks has, at times, been accused of racial discrimination as well as transgender discrimination. In China, Ikea allows its visitors to take naps on Deontology is often regarded as a "here and now" philosophy. To uphold honorable standards of behavior. . a. U.S. jurisprudence 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. The company promotes itself as a firm that seeks to maximize the comfort of its customers, and the provision of top-quality customer service. (b) Analyze: Why do you think Juliet trusts the Friar? All Rights Reserved. c. business should behave ethically, being responsible to all stakeholders 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 . 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. 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? Capitalism, corporations and the social contract: A critique of stakeholder theory. Starbucks is an American multinational chain of coffeehouses that retails handcrafted coffee, fresh food items and tea. \text { Cost } & \$ 930 & \text { Years to maturity } 10 & Which of the following laws ensures that employers provide a workplace environment free of risk to employees' safety and health? AACSB: Application, Real-world. Lorem ipsum dolo, ac, dictum vitae odio. AACSB: Application, Difficulty: Moderate Partners with stakeholders and business hiring managers to ensure that the project has the skillsets and resources required for delivery. inauthentic in carrying out corporate social responsibility when the company already has

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