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. A firm's vision is the foundation for its mission. 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. To uphold honorable standards of behavior. These competitive advantages are essential for interacting with the industry environment, which involves the strong force of competition shown in the Porter's Five Forces analysis of Starbucks Corporation.The company competes against large and small coffeehouse businesses, as . discrepancy is stark. AACSB: Application, Difficulty: Easy Starbucks Corporate Technology's BI & Analytics team works to achieve this . Sample Answer: A company needs to be aware of its stakeholders. a. the responsibility a company has regarding justice and care In a short paragraph, explain how entrepreneurs can still remain ethical while focusing on profit. 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. Which of the following is not a belief that businesses hold? b. Course Hero is not sponsored or endorsed by any college or university. How are Ben & Jerrys and Coca-Cola respective examples of greenwashing? a. courage, decorum, and accountability D. compensation. Lorem ipsum dolo, ac, dictum vitae odio. Cambridge: Cambridge University Press. Which of the following actions are needed to implement Howard Schulz's strategy of putting Starbucks' innovation on display? How does a corporation prioritize stakeholder claims? 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. An external stakeholder is someone who a company recognizes that makes decisions concerning operations. Large corporations such as Some prioritization is particular to ), milk producers Fu, itur laoreet. Blooms: Understand, Apply Do companies have the responsibility to market their products with integrity? c. marketing STARBUCKS CASE PART 3 - GROUP 1. A trade secret is a form of intellectual property protection and is easier to protect than a trademark or patent. What are some examples of how companies take into account the welfare of stakeholders? The D. rules*, What was the reason for Scarlett Johanssons withdrawal from a recent movie? D. chief privacy officer, In which functional areas of business does the CEO hire management? (A)[1,3](B)[0,2](C)[3,4]. List and briefly describe the two types of virtues identified by Aristotle. No.The responsibility a producer has is always being honest, even with their marketing campaigns. Nam lacinia pulvinar tortor nec facilisis. And there are two types of stakeholders, including the primary and seconday stakeholders ( Clarkson, 1995). 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. AACSB: Analytical, Difficulty: Easy (Select all that apply.). AACSB: Ethics, Difficulty: Easy In some cases, as soon as entrepreneurs see that they are making profit, everything else suddenly disappears. Which seven-step guidelines are designed to help organizations with compliance and reporting? Answered over 90d ago. Which of the following are considered intellectual virtues? Pay Range : $123,600- $193,200/ annually. people do not need some of the promoted products or services. Yet there Provide at least two examples of how employees' expectations of work have changed in modern business. Competitors are one of the most significant external stakeholders of Starbucks. Difficulty: Difficult ), how to distribute resources fairly and evenly Which concept holds that workers should be paid on the basis of the value of their job to the organization? Summary. . Which commercial transaction in the New World exemplifies the complexity that results when different cultures, experiences, and ethical codes come into contact? It is important for executives to interact with outside-environment stakeholders such as media and government. Managing and executing the strategy of a company Quality Glossary Definition: Stakeholder. The way corporations pay their "duties" to the owners is by distributing the profits to shareholders in the form of dividends after earning revenue and deducting expenses. 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. Describe the steps in the MITRE stakeholder process and provide an example. Felix Madison has $10,000 worth of property damage insurance and a$1,000 deductible collision insurance policy. Which. 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. d. her portrayal of the character offended stakeholders, her portrayal of the character offended stakeholders, which of the following best relates to prioritizing stakeholders? 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. If you feel harassed, prejudiced against, or disadvantaged in your workplace, you may file a complaint with the ________. EEOC (Equal Employment Opportunity Commission)Employees are legally protected from employment discrimination on the basis of that characteristic. AACSB: Application. This file is copyright 2019, Rice University. \end{array} The phrases Starbucks and Coffee were later removed from the cup so that the brand might potentially extend beyond coffee products. Starbucks is an American multinational chain of coffeehouses that retails handcrafted coffee, fresh food items and tea. A stakeholder is any party, individual, or group interested in an organization's actions and outcomes. The normative approach most appropriately the risk of stakeholder displeasure and critique, which could result in bad publicity for a 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. ), Explore over 16 million step-by-step answers from our library, icitur laoreet. Pellentesque dapibus efficitur laoreet. Fusce dui lectus, congue vel laoreet ac, dictum vi, ce dui lectus, congue vel laoreet ac, dictum vitae odio. Freeman, R. E. & Moutchnik, A. companies. Summary Of Experience D. plastic-cover manufacturers, Which are some types of stakeholder relationships that a local chamber of commerce would Having theoretical approaches to stakeholders highlights 4 Consolidated net revenues increased 24% to $29.1 billion for the. There are also organizations. 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. Caring about employees as well as how their customers is doing will always be worth it in the long run. A diverse workforce yields many positive outcomes for a company. There are dedicated sites Blooms: Remember D. Car manufacturers need to be quicker to the market. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. For ex. c. the theory that global wealth is static and prosperity comes from wealth through extraction Accordin to Freeman (1984), stakeholders are anyone that can influence or be influenced by the company's actions. They can be found working as baristas, store managers, or regional executives. What is a "pay-to-pollute" system that charges a fee or tax to those who discharge carbon into the air? 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 In the early 21st century, a slow but gradual change has taken place in the corporate world concerning questions of business ethics. They have clearly defined symbolic speech but have ruled that it is never protected. For the purpose of this assignment, you will follow the steps in creating the initial portion of a stakeholder engagement strategy. A. chief legal officer Intellectual- includes knowledge, wisdom, and prudence (the most important one). Phillips, R. (2003). Stakeholder ethics involves a body of thought which insists that the ethical responsibilities of corporations extend not only to the shareholders but also to the full range of interests that are impacted by corporate activity. systemic ethics problems. Deontology is often regarded as a "here and now" philosophy. In the case of Dodge v. Ford Motor Company, the Michigan Supreme Court ruled in favor of shareholder primacy. Internal stakeholder In this part Internal stakeholders mean the hotel staff, as well as . C. chief executive officer* Which is the best example of a novelty craze? Blooms: Remember Cross), Give Me Liberty! For example, some Starbucks employees have joined labor unions and become involved with lawsuits against the firm over such issues as back pay, withheld wages, wrongful termination, and union-busting activities that included retaliation against employees that were involved in union-related activities (Phillips, 2003). True or false? Select the best answer. B. marketing* (Select all that apply. AACSB: Reflection, Difficulty: Difficult Sample Answer: Ikea is a multinational furniture store. Identify and describe two challenges an employer may face in providing reasonable accommodations under the ADA for employees. (Select all that apply.) The emphasis was on Operations Management questions and answers. including surveys or social media, for example. ParvalueCost$1,000$930Couponinterestrate6%Yearstomaturity10Taxbracket20%. UmweltWirtschaftsForum, 21(1), 59. B. government liaison/lobbying director True or False: CSR and greenwashing are the same concepts, True or False: it is important for executives to interact with outside-environment stakeholders such as media and government, True or False: the most important function of the board of directors is to hire the president of chief executive officer, True or False: all stakeholders must be treated the same, which of the following are the opposing views of how large, publicly held corporations should approach social responsibility and ethics? 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. 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. Aristotle believes that prudence plays the major role because it helps individuals avoid excess and deficiency. a. pollution tax In the end, it means being responsible to our stakeholders. A. Which intellectual, emotional, and social human trait affects all decision-making, including ethical decisions? Explain the difference between the legal and ethical duties of a corporation. In a short paragraph, describe the difference between enculturation and acculturation. A. her portrayal of the character was insincere (Select all that apply.) b. carbon tax All Rights Reserved. ), positive customer experiences A. milk producers* B. urban and suburban communities* C. coffee and tea growers* D. plastic-cover manufacturers Today, with over 32,000 stores around the globe, the company is the premier roaster and retailer of specialty coffee in the world. b. courage, honor, and loyalty Freeman is best known for his work on stakeholder theory and business ethics, in which he suggests that businesses build their strategy around their relationships with key stakeholders. ventana canyon golf membership fees; what ships are in port at norfolk naval base? Kroger take into account their suppliers, which include farmers. 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 . Describe what type of goal each is. stresses that a company must sustain trust with stakeholders. In some Shippers. The crash caused$1,600 in damages to his car. 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 protect than a trademark or patent. b. corporations need to maintain initial priority of stakeholders The Occupational Safety and Health Administration (OSHA)a business' mission to prevent work-related injuries, illnesses and deaths under the Department of Labor. a. customers are not considered high-priority stakeholder As Starbucks, we can either choose to rise to this moment or stand idle. An ethical financial advisor must ________. Stakeholder Relationships: It appears there are growing disconnects among at least some of their stakeholders. Which of the following is true of Court decisions concerning symbolic speech? Nam lacinia pulvinar tortor nec facilisis. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Toward a theory of stakeholder identification and salience: Defining the principle of who and what really counts. 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. 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. Among the most important stakeholders with regard to Starbucks are the company's employees, customers, suppliers, investors, government, and the environment. Shareholders are certainly an important component of the stakeholders of a corporation (Freeman & Moutchnik, 2013). This can be a consumer who is unable to express their discontent with a product or This Consumers support big box stores that offer quality goods and reasonable prices, Which of the following are Starbucks' stakeholders? Starbucks is opening small cafes half the size of existing cafes. It is important for executives to interact with outside-environment stakeholders Technology companies such as Facebook, Apple, and Yahoo (now owned by Verizon) have reported gender and ethnic shortfalls in their workforces. A) Employees B) Customers C) Shareholders D) Economy pilgrimages in response to passenger stakeholder interests in making such trips. This includes race, color, religion, national origin or ancestry, sex and so on. governance views, shareholders and boards of directors are given priority. Starbucks Stakeholder Analysis. The coffee farmers supply coffee to Starbucks. b. Humongous Bank is required to hold 5% of its existing$20 million as reserves, and to loan out the rest. Stakeholder management and CSR: Questions and answers. They Thornton & Ross, part of the Stada group, are one of the UK's fastest-growing, leading producers of household pharmaceutical products & own some of the country's most loved brands such as Covonia, Hedrin, Cetraben as well as the leading disinfectant Zoflora. which of the following is the best description for what it means to be a professional of integrity? c. coffee and tea growers AACSB: Analytical, Difficulty: Moderate Since the advent of (Starbucks does not follow the traditional franchising terms.) Job Summary and Mission. 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. c. Samsung assumed the risk of exposure and picked up the washers This is viewed 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 . Some ads exaggerate or distort what goods or services deliver. A company's Board of Directors is responsible for guiding CEO succession, which should be a well-planned event. Starbucks' primary business is running a quick service restaurant chain with a coffeeshop model. a. an enumerated power listed in the constitution in the Bill of Rights Decaf Coffee Market Size is projected to Reach Multimillion USD by 2028, In comparison to 2023, at unexpected CAGR . 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. What are some amenities companies offer employees that go beyond a legal minimum or Customer relations are also an essential component of the business model that has been developed by Starbucks. Answer: True, True or false? Which are some types of stakeholder relationships that a local chamber of commerce would have? The most important function of the board of directors is to hire the president or good for business and the right thing to do from an ethical standpoint. In the most generic form of stakeholder groups, Starbucks has an effect on its Employees, Customers, Community, Suppliers, Shareholders, Government, and Competitors. From the beginning, Starbucks set out to be a different kind of company. This is a lofty goal, especially given Coke products are beds, which is acceptable in that culture. Blooms: Apply The mayor's wife often___ to the front of church on Sunday to show off her expensive, new clothes. Farmers supply the coffee grains and tea that are necessary for production. d. Corporate personhood, what is a "pay-to-pollute" system that charges a fee or tax to those who discharge carbon into the air? training. inauthentic in carrying out corporate social responsibility when the company already has 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). d. committing to have 50% of board seats help by women or minorities, actions a firm undertakes to satisfy the base threshold for acting ethically, how is the concept of corporate personhood defined? * To construct a p-chart for a manufacturing process, 25 samples of size 200 were drawn from the process. Find the absolute maximum and minimum, if either exists, for each function on the indicated intervals. There is a growing recognition of the need for corporate accountability. stakeholders that their concern was taken into consideration and will continue to be valued. Which of the following laws ensures that employers provide a workplace environment free of risk to employees' safety and health? In several sentences, describe how ethical standards can shift with geography and time. C. legal compliance* Organizational responsibility statements are usually straightforward: They say comply with the applicable ________. this is an example of.. 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. \end{aligned} Of course companies have the responsibility to market their products with integrity because without them, the business would be no where. Misunderstanding and lack of communication tend to happen even more. Pellentesque dapibus efficitur laoreet. c. her portrayal of the character offended shareholders (2013). To achieve a greater degree of diversity in the workplace, managers' goals should encompass which of the following? Pellentesque dapibus efficitur laoreet. 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. C. It is ineffective because it uses consumer stakeholders to pressure suppliers and make Which of the following is an example of an external stakeholder of an organization? The California Transparency in It also changed its policy of allowing noncustomers to visit its stores and use restrooms. a. community essence of Stouts view is concern that shareholders may want to maximize their investment at At times, Starbucks has become embroiled in a range of political and social controversies as well (Freeman & Moutchnik, 2013). These are standard stakeholders of almost every business that operates in the United States or overseas. Enculturation and acculturation seem very alike but when paying close attention, the differences start to pop out. c. actions a firm undertakes to satisfy the base threshold for acting ethically 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. f(x)=x48x2+16f(x)=x^{4}-8x^{2}+16 We are, therefore, 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. Its normal and keeps things interesting in my opinion. Which of the following are Starbucks' stakeholders? Maybe complaining online or in customer service reviews would be \text { Par value } & \$ 1,000 & \text { Coupon interest rate 6\% } & \text { Tax bracket 20\% } \\ These stakeholders include shareholders, employees, customers, suppliers, communities, and governments. Lorem ipsum dolor sit amet, consectetur adipiscing elit. What CSR lesson did Starbucks convey when it closed its stores for a day? Blooms: Analyze The three Starbucks founders had two things in common: they were all coming from academia, and they all loved coffee and tea. Protected classes are created by both federal and state law. D. Present information to the board of directors. What is the ethical issue behind issuing disaster insurance? The main reason for forming a corporation is to limit the liability of the owners. It is in a business's best interest to promote human flourishing within the organization by providing ________. 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. 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. On the contrary, CSR is the practice by which a company or business views itself within a broader context. that uses billions of liters of water in a community where many people are without water. d. Samsung's recall paid refunds and limited potential lawsuits, Samsung's recall paid refunds and limited potential lawsuits, what was the reason for Scarlett Johansson's withdrawal from a recent movie? Starbucks has also faced lawsuits concerning efforts to withhold tips from employees. An example involves a partnership that was created between Starbucks and Arizona State University that provided scholarships of these kinds where the corporation would pay for more than 50% of the students tuition. This includes Mexico, which has a Coca-Cola plant Applicants must submit a complete application to receive an interview. Thus, Ikea changed in response to consumer AACSB: Ethics, Application. Blooms: Understand than as a means to achieve better financial results. C. remuneration 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. 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. One big issue access economy has is lack of regulations, especially when it comes to overseeing the products and services exchanged during the transaction. The shippers have also announced the suspension of both . Explain Lynn Stouts view of the role of shareholders and the implication for stakeholder business and sustainability strategies. Which of the following are well-documented outcomes? 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? Here is a list of some of the most common external stakeholders your organization may work with: Customers Communities 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. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. b. Sarbanes-Oxley Speaking at the annual shareholders meeting in . Which of the following are Starbucks' stakeholders? e. They have not directly addressed the matter of symbolic speech. How do Donaldson and Preston reconcile the three stakeholder approaches? Enculturation refers to the process by which humans learn the rules, customs, skills, and values to participate in a society. Journal of Business Ethics, 108(3), 285298. Which of the following does Starbucks consider to be a strong asset that helps it build its revenue gains? AACSB: Ethics, Application, Difficulty: Moderate The main difference between a bribe and a gift is intent. 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. In China, Ikea allows its visitors to take naps on The airline is now focused on promoting Muslim FedEx and UPS, two of the largest shipping companies in the world, have both stopped sending shipments to Russia. 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? want companies to treat stakeholders well to encourage customer and employee loyalty.

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