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. simply advertising. Humongous Bank is the only bank in the economy. How much will money supply increase with that original loan of $19 million? Explain Lynn Stouts view of the role of shareholders and the implication for 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. Stakeholder management and CSR: Questions and answers. List and briefly describe the three normative theories of ethics. Advocates of the right to bear arms as well as proponents of gun control have criticized Starbucks for the companys policies regarding the carrying of firearms in Starbucks stores by customers. There are also organizations. Car design should focus on being competitive on the road. a. Humongous Bank decides on a policy of holding 100% reserves. Which of the following does an entrepreneur typically need to be willing to do to start a business? Consumers are demanding more than "product" from their favorite brands. Home4Dance Huddersfield, England, United Kingdom3 weeks agoBe among the first 25 applicantsSee who Home4Dance has hired for this roleNo longer accepting applications. Blooms: Remember the belief that business is not culturally neutral. Which concept holds that workers should be paid on the basis of the value of their job to the organization? 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. pilgrimages in response to passenger stakeholder interests in making such trips. Global store sales increased 20% year-over-year, led by a strong 22% average increase in sales across all North American stores. CSR and greenwashing are the same concepts. d. he thought money should only be allowed for those in trades. 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. Building a trust with your customers through marketing is very important and I say this because first impressions determine whether or not a person will decide to buy your product. generations, such as the case with pollution. OSX Ethics TB Ch03 Defining And Prioritizing Stakeholders, Chapter 3: Defining and Prioritizing Stakeholders, Difficulty: Easy f(x)=x48x2+16, (A)[1,3](B)[0,2](C)[3,4](A)\ [-1,3]\qquad (B)\ [0,2]\qquad (C)\ [-3,4] AACSB: Analytical, Difficulty: Easy which of the following is the best description for what it means to be a professional of integrity? Starbucks continually emphasizes its commitment to corporate social responsibility. Starbucks is opening small cafes half the size of existing cafes. stakeholders that their concern was taken into consideration and will continue to be valued. It is the decision a person we chooses to be through the development of habits and the routine actions in which we choose to engage. This is a lofty goal, especially given Coke products are 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. Those men later settled physical abilities. Which is the best example of a novelty craze? Donec aliquet. No one is born with culture; all humans have to learn what is considered appropriate behavior in their surrounding cultures. A trade secret is a form of intellectual property protection and is easier to To achieve a greater degree of diversity in the workplace, managers' goals should encompass which of the following? (Select all that apply.) The company has many stakeholders the following are considered the main stakeholders, employees, customers, suppliers and investors. Difficulty: Difficult 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. c. is an unattainable goal of perfect virtue Organizational responsibility statements are usually straightforward: They say comply with the applicable ________. One big issue access economy has is lack of regulations, especially when it comes to overseeing the products and services exchanged during the transaction. B. government liaison/lobbying director 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. her portrayal of the character offended stakeholders*, Which of the following is a resource made available to employees, in addition to salary? Accordin to Freeman (1984), stakeholders are anyone that can influence or be influenced by the company's actions. local, state, national, and international laws and regulations. About Path Since its foundation in 1984, PATH (People Assisting The Homeless) has pioneered bold and effective approaches to assist people experiencing homelessness. 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? Therefore, some employees work for Starbucks to gain that status. stakeholder needs. \text { Par value } & \$ 1,000 & \text { Coupon interest rate 6\% } & \text { Tax bracket 20\% } \\ True or false? governance views, shareholders and boards of directors are given priority. AACSB: Application, Analytical, Difficulty: Moderate AACSB: Application, Difficulty: Easy Once data are validated, managers present the b. means supporting dogmatic rationality Defectives16121414911118157812121516917161313151110109. For the long term, business operations need to inculcate stakeholder c. methodology for arriving at the truth Lorem ipsum dolor sit amet, consectetur adipiscing elit. Every country has their own preferences; from the food they eat to even the the type of cloth they to wear. 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. Provide at least two examples of how employees' expectations of work have changed in modern business. Donec aliquet. Starbucks competes with many other coffeehouses, including Dunkin' Donuts, McDonald's, and Caribou Coffee. c. humanistic business model When expanded it provides a list of search options that will switch the search inputs to match the current selection. C. Gather and analyze appropriate data. In the United States, Ikea displays In a short paragraph, explain how entrepreneurs can still remain ethical while focusing on profit. such as media and government. Ability to create, manage and deliver Workday reports and Dashboards for different stakeholder groups; Experience of managing and support of Operational changes such as re-organisations, identifying impacts on Workday; Experienced with internal and external audits, able to demonstrate a positive improvement approach d. Corporate personhood, what is a "pay-to-pollute" system that charges a fee or tax to those who discharge carbon into the air? Here is a list of some of the most common external stakeholders your organization may work with: Customers Communities 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. We are, therefore, Draw a T-account for the bank after this first round of loans has been made. Starbucks steps evinced a social consciousness and focus on stakeholders. C. Defining a companys ongoing mission* Blooms: Understand Select the best answer. D. stakeholder prioritization, Difficulty: Easy Felix Madison has $10,000 worth of property damage insurance and a$1,000 deductible collision insurance policy. Starbucks Coffee Company supports its competitive advantages through the characteristics of its corporate structure. Which of the following are Starbucks' stakeholders? Stakeholder theory: Reviewing a theory that moves us. It is in a business's best interest to promote human flourishing within the organization by providing ________. According to the I/O Model of Above-Average Returns, which of the following steps should Starbucks complete immediately before implementing a strategy? Henry Ford must operate Ford Motor Company primarily to maximize profit for its shareholders. Job Summary and Mission. c. Samsung assumed the risk of exposure and picked up the washers \end{array} The duty to obey a categorical imperative is irrespective of consequences. (Select all that apply. Applying the big box store example from the chapter, which conflicts demonstrate that stakeholder claims vary? b. corporations need to maintain initial priority of stakeholders Enculturation and acculturation seem very alike but when paying close attention, the differences start to pop out. Which is the primary law prohibiting religious discrimination in the private sector workplace? Starbucks operates in more than 80 markets, either in the form of direct company-owned stores or licensed stores. 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. a. courage, decorum, and accountability chief executive officer. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Nam lacinia pulvinar tortor nec facilisis. For Starbucks, its major stakeholders include employees, customers, suppliers and stockholders. These servers are commonly referred to as baristas although actual owners and higher-level managers with Starbucks franchises are referred to within the company as partners. The relationship between Starbucks and the baristas is somewhat controversial concerning the issue of labor-management relations. Q: Corporate-level strategy is best described as: a. strategies firms implement to gain a competitive advantage by selectin. Large corporations such as * Identify shareholders. Which is the best example of a recent company crisis caused by poor leadership? Decaf Coffee Market Size is projected to Reach Multimillion USD by 2028, In comparison to 2023, at unexpected CAGR . celebrated coffee and the rich tradition, but that also brought a feeling of connection. STARBUCKS CASE PART 3 - GROUP 1. I think of it like renting things temporarily rather than selling them permanently. d. cap and trade tax, a " moral minimum" means which of the following? Employees and customers are the two most visible manifestations of the activities of Starbucks and certainly the most visible stakeholders (Mansell, 2013). The coffeehouse company must strengthen its competitive advantages accordingly. Most business organizations hold three different kinds of beliefs about themselves. Sample Answer: Ikea is a multinational furniture store. Which of the following describes the efficacy of legislation like the California Transparency in Supply Chains Act? a. he viewed those outside economic and political circles as virtuous c. marketing Explain an employee's common law duty of loyalty to their employer. Acculturation refers specifically to the cultural transmission and socialization process that stems from cultural exchange. In the most generic form of stakeholder groups, Starbucks has an effect on its Employees, Customers, Community, Suppliers, Shareholders, Government, and Competitors. Today, it is a global roaster and retailer of coffee with more than 24,000 stores, 40% of which are in some 70 countries worldwide. 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. (Select all that apply.) 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. Having theoretical approaches to stakeholders highlights A stakeholder is any party, individual, or group interested in an organization's actions and outcomes. The following points outline skills and experiences that are considered assets: First Aid and CPR certification. Before-tax cost of debt and after-tax cost of debt: David Abbot is considering purchasing a Sony bond. Draw a T-account for the bank. To construct a p-chart for a manufacturing process, 25 samples of size 200 were drawn from the process. a. an enumerated power listed in the constitution in the Bill of Rights 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 . As for ethical duties, they are standards based on human principles of right from wrong. C. remuneration d. mercantilism, which of the following definitions best describe moral agency? b. set of cultural norms . D. pet owners, Which of the following are the duties of the board of directors? D. compensation. changes. 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. Donec aliquet. A decision to be less This includes race, color, religion, national origin or ancestry, sex and so on. nature as stakeholders. B. occurs during the monthly vulnerability scanning. Stakeholder theory and organizational ethics. For the purpose of this assignment, you will follow the steps in creating the initial portion of a stakeholder engagement strategy. In the end, it means being responsible to our stakeholders. In several sentences, describe how ethical standards can shift with geography and time. mysterious plane crashes, the Malaysian government (a stakeholder) and private investors hired a business and sustainability strategies. ), Explore over 16 million step-by-step answers from our library, icitur laoreet. 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. Donec aliquet. a. humanity in ethics A common law or principle stating that officers, directors, and managers of a corporation are not liable for losses incurred when the evidence demonstrates that decisions were reasonable and made in good faith is known as ________. It is not necessary to conduct extensive market research. Too Short! b. Humongous Bank is required to hold 5% of its existing$20 million as reserves, and to loan out the rest. This file is copyright 2019, Rice University. than as a means to achieve better financial results. Which of the following is a resource made available to employees, in addition to salary? Summary. Community members may view big box stores as a threat to small businesses' livelihood. 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 . 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. want companies to treat stakeholders well to encourage customer and employee loyalty. . A normative approach views stakeholders as ends in themselves rather External stakeholders have a direct impact if they purchase a product and the relationship they have with a company. A diverse workforce yields many positive outcomes for a company. For example, an employee has to do what the manager tells them to do because that is what they were taught their entire life, to respect authority figures. D. It is effective because it expects NGOs, state governments, and political action committees to inauthentic in carrying out corporate social responsibility when the company already has a. customers are not considered high-priority stakeholder 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). Blooms: Analyze, Evaluate Which of the following are well-documented outcomes? Starbucks set out on its current course in the 1980s . 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. Solicit, evaluate and apply suggestions for improving efficiency and cost effectiveness. ), positive customer experiences The main reason for forming a corporation is to limit the liability of the owners. most important, given its provision of goods and services. company. Q: The focus on chapter 6 is diversification which can mean different things for companies depending on the context. * How will Starbucks determine if smaller express stores reduce client wait times after implementing its strategy? Journal of Business Ethics, 108(3), 285298. stresses that a company must sustain trust with stakeholders. Sample Answer: A company needs to be aware of its stakeholders. beds, which is acceptable in that culture. Employees are dissatisfied with the trust they receive from management and are seeking "representation" through unions. AACSB: Application, Real-world, Difficulty: Moderate They have clearly defined symbolic speech but have ruled that it is never protected. Toward a theory of stakeholder identification and salience: Defining the principle of who and what really counts. Blooms: Apply : 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). Blooms: Apply PR Related Events and Strategies & Tactics Used Timeline of Key PR Related Events c. a business owner's protection against loss of personal assets Capitalism, corporations and the social contract: A critique of stakeholder theory. In some Blooms: Apply Competitors are one of the most significant external stakeholders of Starbucks. An analysis of perceived priority of shareholder impact should include which of the following? Observing the company's liquidity, Starbucks has around $2.6 billion in cash and short-term borrowing facilities of $3.5 billion. OpenStax Business Ethics Test Bank Chapter 3: Defining and Prioritizing Stakeholders Chapter 3: Defining and Prioritizing Stakeholders * = Correct answer Multiple Choice/Fill in the Blank 1. c. Compute and plot the A, B, and C zone boundaries on the p-chart. Identify and describe two challenges an employer may face in providing reasonable accommodations under the ADA for employees. The Starbucks Foundation will build upon its existing efforts to invest in the communities we serve with $1.5 million in neighborhood grants, prioritizing grassroots and community-based nonprofit organizations focused on local impact.These grants aim to uplift organizations led by and that serve Black communities and will support nearly 400 local nonprofit organizations across the country. Summary Of Experience 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 . What constitutes a reasonable profit may be unfair. AACSB: Application, Real-world. Aristotle believes that prudence plays the major role because it helps individuals avoid excess and deficiency. A. finance* It is important for executives to interact with outside-environment stakeholders such as media and government. Customer relations are also an essential component of the business model that has been developed by Starbucks. His expertise also extends to areas such as leadership, corporate responsibility and business strategy. marketplace, Starbucks has an opportunity to lead by example. Technology companies such as Facebook, Apple, and Yahoo (now owned by Verizon) have reported gender and ethnic shortfalls in their workforces. 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. Copyright 2023 StudeerSnel B.V., Keizersgracht 424, 1016 GC Amsterdam, KVK: 56829787, BTW: NL852321363B01, Chapter 3: Defining and Prioritizing Stakeholde, A. minority- and women-owned small business owners*, A. * Nam lacinia pulvinar tortor nec facilisis. In three to four sentences, describe the difference between legal compliance and social responsibility. C. legislatures The company promotes itself as a firm that seeks to maximize the comfort of its customers, and the provision of top-quality customer service. Answered over 90d ago. b. competitors How does a corporation prioritize stakeholder claims? Explain how the "triple bottom line" goes beyond the traditional goal of shareholder profit. 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. Many people in the UK will have a product from Thornton & Ross somewhere at home. If Starbucks follows a strategy of competing in more than one business product, which of the following goals could it accomplish? that uses billions of liters of water in a community where many people are without water. The entitlement of the environment to legal status is a long-argued Many baristas have eventually become managers and worked their way up into higher positions within management (Mitchell, Agle, & Wood, 1997). A. industry norms* a. her portrayal of the character was insincere Environmentalists raise the issue of species and b. ethics is about what someone does In the early 21st century, a slow but gradual change has taken place in the corporate world concerning questions of business ethics. A firm's vision is the foundation for its mission. Entrepreneurs can still remain ethical while focusing on profit because they can't afford to have people disliking them as well as creating drama. (Select all that apply. Phillips, R. (2003). operations (CAFO). 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. Starbucks confirmed the results of the vote to CNN Business. C. Stakeholder perceptions have a large impact on success. Blooms: Remember Explain how owners benefit from doing business as a corporate entity. Coffee producers are a major stakeholder for Starbucks because the firm has staked its reputation on high quality coffee. a. community Starbucks has also faced lawsuits concerning efforts to withhold tips from employees. e. They have not directly addressed the matter of symbolic speech. A company's Board of Directors is responsible for guiding CEO succession, which should be a well-planned event. Select a product or service that will be sustainable. Internal stakeholder In this part Internal stakeholders mean the hotel staff, as well as . What has unfolded at Starbucks is anything but. virtue ethics (the third normative approach)- focuses on the character of the decision-maker.