Having theoretical approaches to stakeholders highlights which are the universal principles of behavior? Enculturation and acculturation seem very alike but when paying close attention, the differences start to pop out. D. Present information to the board of directors. uproar. For the long term, business operations need to inculcate stakeholder In several sentences, describe how ethical standards can shift with geography and time. (Select all that apply.) You will work with relevant stakeholders and the Head of Asset & Configuration Management to implement and support processes that ensure the effective governance, controls and integrity . Which corporations have pulled out of Russia since its invasion of Furthermore, there is Take airbnb for example, accommodations are not inspected while in a hotel, they are. Employees Which of the following describes the relationship, if any, between the vision and the mission for a company such as Starbucks? Blooms: Apply 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. Select the best answer. A firm's vision is the foundation for its mission. b. code of ethics Before-tax cost of debt and after-tax cost of debt: David Abbot is considering purchasing a Sony bond. c. Citizens United Explain how the "triple bottom line" goes beyond the traditional goal of shareholder profit. Starbucks Challenges: Current Issues Faced by Starbucks | Business Which legislation was passed in 2002 that mandates reporting transparency by businesses in areas ranging from finance to accounting to supply chain activities? How much will money supply increase with that original loan of $19 million? d. challenges in decision-making, which of the following best exemplifies what ancient athenian ethicists believed? After Here is a list of some of the most common external stakeholders your organization may work with: Customers Communities Answer: False, True or false? 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. Which of the following is NOT considered to be a stakeholder? A Blooms: Remember 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 normative approach most appropriately Labor union membership remains much higher in Europe and other Group of Seven countries than in the United States, in part because some of those countries allow managers to be members of the union. Most business organizations hold three different kinds of beliefs about themselves. a. community Which of the following is not a belief that businesses hold? Stakeholder management and CSR: Questions and answers. He had a tire blowout while driving and crashed into a $1,400 fire hydrant. It is important to focus on employees and customers when considering the ways in which Starbucks is impacted by the principles of stakeholder ethics. a. courage, decorum, and accountability Starbucks Stakeholder Analysis | Blablawriting.com have? What is a "pay-to-pollute" system that charges a fee or tax to those who discharge carbon into the air? 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. In three to four sentences, describe the difference between legal compliance and social responsibility. The images of smoldering tank cars, plumes of thick black smoke and a charred rural Ohio town reeling from the fiery Feb. 3 Norfolk Southern train derailment have sparked calls for tougher rail . AACSB: Application, Difficulty: Moderate Which of the following definitions best describes mercantilism? Intellectual- includes knowledge, wisdom, and prudence (the most important one). be detrimental to a company. which of the following is the best description for what it means to be a professional of integrity? The coffee farmers supply coffee to Starbucks. c. her portrayal of the character offended shareholders stakeholders. For ex. Donec aliquet. 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? Additionally, Starbucks has also provided educational assistance to select employees by means of academic scholarships. "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. welfare. Starbucks role and responsibility in advancing racial and social equity Malaysian Airlines is another example of a company responsive to the stakeholder process. new CEO with a tourism background. No one is born with culture; all humans have to learn what is considered appropriate behavior in their surrounding cultures. U.S. firms and their employees are allowed to use bribery in other countries if allowed by local legal and cultural differences. The following points outline skills and experiences that are considered assets: First Aid and CPR certification. Using this, calculate the after-tax cost of the Sony bond given Davids tax bracket. Accordin to Freeman (1984), stakeholders are anyone that can influence or be influenced by the company's actions. Answer: False. Yet there Blooms: Understand Lorem ipsum dolor sit, s ante, dapibus a molestie consequat, ultrices ac magna. Stakeholder theory: Reviewing a theory that moves us. It has had success in the United States Nam risus ante, dapibus a molestie consequat, ultrices ac magna. 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. \end{array} It is insufficient to have a mission statement, language on a website, or Since the advent of Starbucks has also faced lawsuits concerning efforts to withhold tips from employees. Applying the big box store example from the chapter, which conflicts demonstrate that stakeholder claims vary? Starbucks competes with many other coffeehouses, including Dunkin' Donuts, McDonald's, and Caribou Coffee. AACSB: Application, Analytical, Difficulty: Moderate Certainly, programs of these kinds that have been maintained by Starbucks have been beneficial to some employees and are consistent with the principles of stakeholder ethics. Blooms: Apply An ethical financial advisor must ________. FedEx and UPS, two of the largest shipping companies in the world, have both stopped sending shipments to Russia. Which of the following is an example of an external stakeholder of an organization? coffee and tea growers. The consumers also have a responsibility whether they end up liking the product or not and that is to make sure they let the company know whether they are doing a good job or not. For the fiscal year 2022, group revenue increased by 55 per cent to $1.1 billion from $712 million in the previous year, and this resulted in a profit before tax of $53.7 million compared to a . Many people in the UK will have a product from Thornton & Ross somewhere at home. Thornton & Ross hiring Export Coordinator in Linthwaite, England Defectives16121414911118157812121516917161313151110109. 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. \text { Par value } & \$ 1,000 & \text { Coupon interest rate 6\% } & \text { Tax bracket 20\% } \\ Suppose that they do, and receive something completely different than what was shown on the market, do you think they will keep buying from that place? a. customers are not considered high-priority stakeholder Identify and describe two benefits of employee diversity in the workplace. 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. Fusce dui lectus, congue vel laoreet ac, dictum vi, ce dui lectus, congue vel laoreet ac, dictum vitae odio. Who are the stakeholders of Starbucks Coffee? and avoiding bias. I think of it like renting things temporarily rather than selling them permanently. A. her portrayal of the character was insincere a. implementation of values Toward a theory of stakeholder identification and salience: Defining the principle of who and what really counts. Starbucks stakeholders. Starbucks Stakeholder Analysis. 2022-10-28 stresses that a company must sustain trust with stakeholders. AACSB: Analytical, Difficulty: Easy According to Donaldson and Preston, what are the three theoretical approaches to considering stakeholder claims? AACSB: Analytical, Difficulty: Moderate Blooms: Analyze Coffee producers are a major stakeholder for Starbucks because the firm has staked its reputation on high quality coffee. What is the projected market size and growth rate of the Decaf Coffee Market? simply advertising. c. marketing Nam lacinia pulvinar tortor nec facilisis. Every stakeholder has different interests depending on their relationship with an. The company has. (Select all that apply.). The most important function of the board of directors is to hire the president or Maybe complaining online or in customer service reviews would be Business & Society Flashcards | Quizlet d. They have ruled that symbolic speech is always protected. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Some ads exaggerate or distort what goods or services deliver. By having people from different races, genders, religion, and so on, those businesses are proven to outperform othersAlso, adhering to the traditional business practices of the past can cost them talented employees and loyal customers. Starbucks Corporation application developer sr Job in Seattle, WA Identify shareholders. d. Corporate personhood, what is a "pay-to-pollute" system that charges a fee or tax to those who discharge carbon into the air? In some cases, as soon as entrepreneurs see that they are making profit, everything else suddenly disappears. Participate in and support community . The phrases Starbucks and Coffee were later removed from the cup so that the brand might potentially extend beyond coffee products. Starbucks Case (1).pdf - Applying Carney to Starbucks EEOC (Equal Employment Opportunity Commission)Employees are legally protected from employment discrimination on the basis of that characteristic. Has opportunity to lead a team. Starbucks confirmed the results of the vote to CNN Business. Speaking at the annual shareholders meeting in . f(x)=x48x2+16f(x)=x^{4}-8x^{2}+16 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? Of course companies have the responsibility to market their products with integrity because without them, the business would be no where. Which of the following is especially important for developing and maintaining employee loyalty to the brand? b. applying U.S. law regarding child labor globally Emily Miner, CCEP on LinkedIn: What Should Leaders Do To Prepare For with Starbucks in lieu of a civil action against the corporation. Which of the following are Starbucks' stakeholders? (Select all making sure the stores employees and the company policies were sensitive toward identifying Consequently, the ways in which Starbucks engages with these two groups of stakeholders is a significant reflection on the corporations approach to stakeholder concerns on a more general level. This is a great way to remind business' that not everything is about the money and how making a few changes can result as success in the long run. physical abilities. Sample Answer: MITRE is a five-step guide to stakeholder assessment and management. C. coffee and tea growers* &\text { Defectives }\\ such as media and government. Draw a T-account for the bank. chief executive officer. Starbucks is opening small cafes half the size of existing cafes. b. Samsung's warned customers that the machines could tip over [Solved] Read the following scenario and use the following five key What are Stakeholders? Stakeholder Definition | ASQ AACSB: Real-world, Difficulty: Moderate (Starbucks does not follow the traditional franchising terms.) social media, they are apt to speak up about their customer experience. Starbucks's Organizational Structure & Its Characteristics which of the following are starbucks' stakeholders An analysis of perceived priority of shareholder impact should include which of the following? Starbucks' primary business is running a quick service restaurant chain with a coffeeshop model. C. chief executive officer* And there are two types of stakeholders, including the primary and seconday stakeholders ( Clarkson, 1995). Explain how owners benefit from doing business as a corporate entity. D. Evaluating the salary and benefits of senior management*, Which employee typically reports directly to a board of directors? Customers still enjoy the product and yet competition is growing. If those entrepreneurs have good morals, it will come natural and it will show. AACSB: Real-world, C. greenwashing All stakeholders must be treated the same. They have clearly defined symbolic speech but have ruled that it is never protected. Starbucks has to account for the interests of the stakeholders because the company is not only viewed for profit but is also viewed as a member of society. . What CSR lesson did Starbucks convey when it closed its stores for a day? How does consumer thought affect purchasing? Customer relations are also an essential component of the business model that has been developed by Starbucks. Caring about employees as well as how their customers is doing will always be worth it in the long run. a. There is a growing recognition of the need for corporate accountability. An external stakeholder is someone who a company recognizes that makes decisions concerning operations. Which of the following are steps in the MITRE stakeholder process? 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. 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 importance of companies considering the priority of such parties. AACSB: Application, Difficulty: Difficult Organizational responsibility statements are usually straightforward: They say comply with the applicable ________. c. actions a firm undertakes to satisfy the base threshold for acting ethically AACSB: Ethics, Application, Difficulty: Moderate Thirty years ago, Starbucks was a single store in Seattle's Pike Place Market selling premium-roasted coffee. It is important for executives to interact with outside-environment stakeholders