True or false? Capitalism, corporations and the social contract: A critique of stakeholder theory. Select the best answer. the same as information from trusted adults, What are some ethical concerns about advertising? 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. It is important for executives to interact with outside-environment stakeholders b. corporations need to maintain initial priority of stakeholders Shareholders are certainly an important component of the stakeholders of a corporation (Freeman & Moutchnik, 2013). a. humanity in ethics What research did the BBC Earth Lab cite to prove or disprove that subliminal advertising is real? Consumers are demanding more than "product" from their favorite brands. Answer: True, True or false? Stakeholder theory and organizational ethics. In many ways, Starbucks is indeed a firm that maintains higher standards concerning the treatment of employees than many other firms in service-related retail industries (for example, fast food restaurant chains and superstores). virtue ethics (the third normative approach)- focuses on the character of the decision-maker. Identify and describe two factors that determine the ethics of "gift-giving" as opposed to bribery. Which of the following does an entrepreneur typically need to be willing to do to start a business? 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). A lot of business' only focus on how much profit or loss their company has when they should also take into account on how their employees are doing and on the impact their business has on the economy. Which of the following is not an example of a diffused shareholder? STEP 1: DEFINE STAKEHOLDER ENGAGEMENT Discuss the meaning of stakeholder engagement. consumed by 20% of the worlds population. The firm issued $3 billion in bonds, taking advantage of the. 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 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 . Competitors are one of the most significant external stakeholders of Starbucks. coffee and tea growers. List and briefly describe the three normative theories of ethics. 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. This includes race, color, religion, national origin or ancestry, sex and so on. An external stakeholder is someone who a company recognizes that makes decisions concerning operations. Starbucks prioritizes employees in its corporate social responsibility efforts. Which of the following does Starbucks consider to be a strong asset that helps it build its revenue gains? c. is an unattainable goal of perfect virtue Summary Of Experience D. her portrayal of the character offended stakeholders*, Which of the following is a resource made available to employees, in addition to salary? A. milk producers* B. urban and suburban communities* C. coffee and tea growers* D. plastic-cover manufacturers Each employee prides in working in an organization that acknowledges his efforts. being committed to ethical business practices. nature as stakeholders. B. 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. Pellentesque dapibus efficitur laoreet. b. standards of behavior Summarize the ethical debate of whether corporations owe a duty to society or only to their owners. Develop or acquire assets and skills needed to implement the strategy. Cross), Give Me Liberty! 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? The number of defectives in each sample is listed in time order in the table that follows. Blooms: Understand How are Ben & Jerrys and Coca-Cola respective examples of greenwashing? 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. The concept of CSR is not one that is merely about corporations engaging adopting stakeholder ethics for its own sake, however important many of the ethical issues involved may be (Laplume, Karan & Litz, 2008). Having theoretical approaches to stakeholders highlights governance views, shareholders and boards of directors are given priority. He had a tire blowout while driving and crashed into a $1,400 fire hydrant. 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. Lorem ipsum dolor sit amet, consectetur adipiscing elit. AACSB: Analytical. Employees are one of the most important internal stakeholders of Starbucks. Answer: False, True or false? normative, descriptive, and instrumental approaches. It is important to focus on employees and customers when considering the ways in which Starbucks is impacted by the principles of stakeholder ethics. c. conscientiousness, honor, and accountability Here is a list of some of the most common external stakeholders your organization may work with: Customers Communities Stakeholder Relationships: It appears there are growing disconnects among at least some of their stakeholders. AACSB: Real-world, Difficulty: Moderate AACSB: Ethics, Application. 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? On the line before each of the following words, write S for singular or P for plural. Accordin to Freeman (1984), stakeholders are anyone that can influence or be influenced by the company's actions. D. plastic-cover manufacturers, Which are some types of stakeholder relationships that a local chamber of commerce would mysterious plane crashes, the Malaysian government (a stakeholder) and private investors hired a A diverse workforce yields many positive outcomes for a company. AACSB: Ethics, Difficulty: Easy A. entities and people invested and influential in the success of an organization* Toward a theory of stakeholder identification and salience: Defining the principle of who and what really counts. Blooms: Understand 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 a short paragraph, explain how entrepreneurs can still remain ethical while focusing on profit. Yet there The emphasis was on Donec aliquet. B. local and regional governments* AACSB: Application, Difficulty: Easy Q: The focus on chapter 6 is diversification which can mean different things for companies depending on the context. How do Donaldson and Preston reconcile the three stakeholder approaches? Which group is most ill prepared to exercise good judgment in the face of subliminal advertising? 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. Which of the following is an example of an external stakeholder of an organization? D. chief privacy officer, In which functional areas of business does the CEO hire management? Henry Ford must operate Ford Motor Company primarily to maximize profit for its shareholders. Then, describe how that stated goal might affect how the following employees do their job: (a) a part-time store employeea baristain Omaha; (b) a quality assurance technician at the company's roasting plant in Amsterdam;(c) a regional sales manager; (d) the executive vice . B. urban and suburban communities* Kroger take into account their suppliers, which include farmers. which are the universal principles of behavior? b. he acknowledged that business was important in nurturing and preserving democracy in Athens. the risk of stakeholder displeasure and critique, which could result in bad publicity for a Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. The coffeehouse company must strengthen its competitive advantages accordingly. This button displays the currently selected search type. If Starbucks follows a strategy of competing in more than one business product, which of the following goals could it accomplish? c. media Sample Answer: Customers are articulate about their views of a company. d. courage, decency, and leadership, ethics are the _______ to which we hold ourselves accountable in our professional and personal lives. C. Stakeholder perceptions have a large impact on success. Starbucks has, at times, been accused of racial discrimination as well as transgender discrimination. a. the lifestyle characterized by the acquisition of goods and services In a perpetual existence, when a sole proprietor or partner dies, the assets may go to the heirs, but the business no longer exists. Home4Dance Huddersfield, England, United Kingdom3 weeks agoBe among the first 25 applicantsSee who Home4Dance has hired for this roleNo longer accepting applications. Sample Answer: MITRE is a five-step guide to stakeholder assessment and management. 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. (Select all that apply.). Pellentesque dapibus efficitur laoreet. A trade secret is a form of intellectual property protection and is easier to d. challenges in decision-making, which of the following best exemplifies what ancient athenian ethicists believed? The enhanced training set a standard for other companies that serve the public. Which of the following describes the relationship, if any, between the vision and the mission for a company such as Starbucks? Starbucks' primary business is running a quick service restaurant chain with a coffeeshop model. Consumer feedback on social media sites does not affect a company's prospects or status as ethical. Which of the following is the lesson learned from the Edsel story? which are the universal principles of behavior? (Select all that apply.) Solicit, evaluate and apply suggestions for improving efficiency and cost effectiveness. 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 . (Select all that apply. c. her portrayal of the character offended shareholders &\begin{array}{ccccccccccccc} d. guidelines designed to help organizations with compliance and reporting, the freedom and ability to make choices based on one's perception of right and wrong, Byron Almen, Dorothy Payne, Stefan Kostka, The Language of Composition: Reading, Writing, Rhetoric, Lawrence Scanlon, Renee H. Shea, Robin Dissin Aufses. represents ethical stakeholder theory. C. legislatures B. government liaison/lobbying director social media, they are apt to speak up about their customer experience. 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). 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. In the case of Coca-Cola, its website discusses stakeholder engagement in a Which are some types of stakeholder relationships that a local chamber of commerce would have? The name, inspired by Moby Dick, evoked the romance of the high seas and the seafaring tradition of the early coffee traders. a. business should behave ethically, focusing only on environmentalism 35.Deconfliction is necessary when the penetration test: A. determines that proprietary information is being stored in cleartext. Pellentesque dapibus efficitur laoreet. His expertise also extends to areas such as leadership, corporate responsibility and business strategy. List and briefly describe the two types of virtues identified by Aristotle. Blooms: Remember B. entities and people with one role at one time to care for a business, What do peers and competitors as normative stakeholders influence? They need to develop sustainable sources of quality beans. Blooms: Remember D. compensation. Difficulty: Moderate B. Supervising middle and senior management There is a common agreement among the public that corporate directors have a duty to maximize corporate profits and shareholder value, even if this means skirting ethical rules. A. Ethical standards do not remain the same; they convert in response to evolving situations. Sample Answer: Ikea is a multinational furniture store. In the end, it means being responsible to our stakeholders. Starbucks continually emphasizes its commitment to corporate social responsibility. 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 . In China, Ikea allows its visitors to take naps on Of course companies have the responsibility to market their products with integrity because without them, the business would be no where. C. It is ineffective because it uses consumer stakeholders to pressure suppliers and make C. remuneration pilgrimages in response to passenger stakeholder interests in making such trips. 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. 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. Miles, S. (2012). Ben & Jerrys, an ice cream company known for its founders social people do not need some of the promoted products or services. Starbucks Stakeholder Analysis. companies that intentionally keep hours at less than 29 to avoid more costly regulations like the ACA Nam lacinia pulvinar tortor nec facilisis. 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. Rachel Carsons 1962 book, True or false? c. Samsung assumed the risk of exposure and picked up the washers Some ads exaggerate or distort what goods or services deliver. 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). Pay Range : $123,600- $193,200/ annually. urban and suburban communities McDonald's London, England, United Kingdom1 month agoBe among the first 25 applicantsSee who McDonald's has hired for this roleNo longer accepting applications. Blooms: Application Explain using details from the text. Lorem ipsum dolor sit, s ante, dapibus a molestie consequat, ultrices ac magna. Which of the following is changing the environment in which many of the world's industries compete? Journal of Management, 34(6), 11521189. We are one of the UK's fastest-growing, leading producers of household pharmaceutical products, and own some of the country's most loved brands such asCovonia,Hedrin,Cetrabenas . D. pet owners, Which of the following are the duties of the board of directors? Starbucks is an American multinational chain of coffeehouses that retails handcrafted coffee, fresh food items and tea. This incident caused a global c. Citizens United Global store sales increased 20% year-over-year, led by a strong 22% average increase in sales across all North American stores. ), Local governments are seeking to institute tax advantages to attract business competition. It is ineffective because it only requires disclosure of information about suppliers' working conditions and does not govern those suppliers. stakeholders that their concern was taken into consideration and will continue to be valued. 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 There are dedicated sites c. Compute and plot the A, B, and C zone boundaries on the p-chart. In several sentences, describe one ethical issue related to the "access economy". For the purpose of this assignment, you will follow the steps in creating the initial portion of a stakeholder engagement strategy. a. he viewed those outside economic and political circles as virtuous Which of the following is an example of an external stakeholder of an organization? d. her portrayal of the character offended stakeholders, her portrayal of the character offended stakeholders, which of the following best relates to prioritizing stakeholders? AACSB: Real-world, Difficulty: Easy celebrated coffee and the rich tradition, but that also brought a feeling of connection. Select a product or service that will be sustainable. 16 & 14 & 9 & 11 & 15 & 8 & 12 & 16 & 17 & 13 & 15 & 10 & 9 \\ local, state, national, and international laws and regulations. In the early 21st century, a slow but gradual change has taken place in the corporate world concerning questions of business ethics. the belief that business is not culturally neutral. Car design should focus on being competitive on the road. Misunderstanding and lack of communication tend to happen even more. Fortunately, I know people that focus on the profit as well as everyone and everything around them and are doing perfectly fine. Blooms: Apply 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? c. customers are considered high-priority stakeholders However, Starbucks has also encountered certain difficulties in the area of customer relations that have tarnished the firms reputation as being one that is fully committed to the principles of stakeholder ethics. marketplace, Starbucks has an opportunity to lead by example. Which is the best example of a novelty craze? a. promising to earn less profit per share Which of the following are steps in the MITRE stakeholder process? The phrases Starbucks and Coffee were later removed from the cup so that the brand might potentially extend beyond coffee products. service, for example. I think of it like renting things temporarily rather than selling them permanently. The airline is now focused on promoting Muslim According to Donaldson and Preston, what are the three theoretical approaches to considering stakeholder claims? How can entrepreneurs best ensure their customer-service vision is passed on to employees? The coffee farmers supply coffee to Starbucks. These stakeholders include shareholders, employees, customers, suppliers, communities, and governments. Blooms: Remember In Richard DeGeorge's humanities model, business ethics would prepare students to do certain specific things. 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?