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). In the case of Coca-Cola, its website discusses stakeholder engagement in a Some ads exaggerate or distort what goods or services deliver. marketplace, Starbucks has an opportunity to lead by example. &\text { Defectives }\\ A. a. leads people to treat others as a means to an end It is best for companies to avoid involvement in such controversies because of the polarizing effect they have on the general public and consequently on Starbucks customers and potential customers. . He has the following security-related information: Parvalue$1,000Couponinterestrate6%Taxbracket20%Cost$930Yearstomaturity10\begin{array}{llll} These stakeholders include shareholders, employees, customers, suppliers, communities, and governments. mysterious plane crashes, the Malaysian government (a stakeholder) and private investors hired a What is a measure that accounts for an organization's results in terms of its effects on profits, planet, and people? Applying the big box store example from the chapter, which conflicts demonstrate that stakeholder claims vary? To construct a p-chart for a manufacturing process, 25 samples of size 200 were drawn from the process. Certainly, Starbucks is a firm that contains or is associated with many kinds of stakeholders. Summary Of Experience e. They have not directly addressed the matter of symbolic speech. 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. a. Samsung's washers had a spin-cycle problem in 2017 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. AACSB: Application, Difficulty: Easy stakeholders that their concern was taken into consideration and will continue to be valued. How can you explain the range of mixed economies in the world? Yet there 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. According to Donaldson and Preston, what are the three theoretical approaches to considering stakeholder claims? 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. The name, inspired by Moby Dick, evoked the romance of the high seas and the seafaring tradition of the early coffee traders. 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 . 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. 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. Cross), Give Me Liberty! Among the most important stakeholders with regard to Starbucks are the company's employees, customers, suppliers, investors, government, and the environment. Which is the best example of a recent company crisis caused by poor leadership? Explain Lynn Stouts view of the role of shareholders and the implication for stakeholder nature as stakeholders. (Select all that apply.) generations, such as the case with pollution. b. her portrayal of the character was not approved 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. normative, descriptive, and instrumental approaches. with Starbucks in lieu of a civil action against the corporation. (Select all that apply.) (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? f(x)=x48x2+16f(x)=x^{4}-8x^{2}+16 b. carbon tax Freeman, R. E. & Moutchnik, A. essence of Stouts view is concern that shareholders may want to maximize their investment at 100 %. Blooms: Remember Lorem ipsum dolo, ac, dictum vitae odio. D. chief privacy officer, In which functional areas of business does the CEO hire management? 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. Donec aliquet. c. environmental tax The triple bottom line focuses on three things: profit, people, and planet. Ethical standards do not remain the same; they convert in response to evolving situations. Which of the following are Starbucks' stakeholders? Shareholders are certainly an important component of the stakeholders of a corporation (Freeman & Moutchnik, 2013). AACSB: Ethics, Difficulty: Easy Media While a power-interest grid is usually used to determine the key stakeholders of a business on an ongoing basis, it can also be used to focus on key aspects of a short-term challenge or situation. On one hand, Starbucks is frequently praised as a company that is committed to corporate social responsibility and stakeholder ethics when it comes to labor relations (Miles, 2012). This button displays the currently selected search type. b. applying U.S. law regarding child labor globally (2013). Blooms: Remember How can entrepreneurs best ensure their customer-service vision is passed on to employees? AACSB: Reflection, Difficulty: Difficult Henry Ford must operate Ford Motor Company primarily to maximize profit for its shareholders. b. set of cultural norms It Caring about employees as well as how their customers is doing will always be worth it in the long run. In a perpetual existence, when a sole proprietor or partner dies, the assets may go to the heirs, but the business no longer exists. Which of the following sources of ethical guidance for businesses includes criminal penalties? Large corporations such as 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 . All Rights Reserved. The In several sentences, describe one ethical draw-back of job-sharing. Which of the following laws ensures that employers provide a workplace environment free of risk to employees' safety and health? C. legal compliance* Toward a theory of stakeholder identification and salience: Defining the principle of who and what really counts. Of course companies have the responsibility to market their products with integrity because without them, the business would be no where. B. shareholders service, for example. Which of the following is especially important for developing and maintaining employee loyalty to the brand? Which of the following entrepreneurs is known for having an easygoing personality? 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. c. business should behave ethically, being responsible to all stakeholders I say this because with many different opinions being thrown in the air, being on the same boat is not the easiest thing. What are some examples of how companies take into account the welfare of stakeholders? Which of the following are Starbucks' stakeholders? Which of the following does an entrepreneur typically need to be willing to do to start a business? Having theoretical approaches to stakeholders highlights c. Compute and plot the A, B, and C zone boundaries on the p-chart. Humongous Bank is the only bank in the economy. Blooms: Apply A company's Board of Directors is responsible for guiding CEO succession, which should be a well-planned event. a. implementation of values Technology companies such as Facebook, Apple, and Yahoo (now owned by Verizon) have reported gender and ethnic shortfalls in their workforces. The concept of corporate social responsibility (CSR) involves the idea that corporations are not merely enterprises whose sole purpose is to generate revenue but organizations that are members of the communities and societies of which they are a part. 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". Accordin to Freeman (1984), stakeholders are anyone that can influence or be influenced by the company's actions. consumed by 20% of the worlds population. 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? including surveys or social media, for example. Berrett-Koehler Publishers. A. entities and people invested and influential in the success of an organization* Q: The focus on chapter 6 is diversification which can mean different things for companies depending on the context. 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 Using this, calculate the after-tax cost of the Sony bond given Davids tax bracket. Which of the following is considered the most important internal stakeholder of a corporation? Which insurance covers the damage to the fire hydrant? Sample Answer: In May 2018, Starbucks closed its stores after an incident in which two African a. the lifestyle characterized by the acquisition of goods and services The emphasis was on ), True or false? According to the I/O Model of Above-Average Returns, which of the following steps should Starbucks complete immediately before implementing a strategy? long-term dialogue to inform the companys decision making and as a core component of its 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? It must determine which are Also, it is crucial that the company inform Do companies have the responsibility to market their products with integrity? Blooms: Apply deontology (the second approach)- to examine the means, or actions, we use to carry out a business decision and suggests that it is the means that lend nobility to the ends. Most business organizations hold three different kinds of beliefs about themselves. (Starbucks does not follow the traditional franchising terms.) a. U.S. jurisprudence 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.