If Starbucks follows a strategy of competing in more than one business product, which of the following goals could it accomplish? 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. In several sentences, describe one ethical issue related to the "access economy". How is Starbucks diversifying in India to fit into the local culture? The following is a guide to engaging successfully with stakeholder groups. Blooms: Remember be detrimental to a company. Too Short! welfare. Job Summary and Mission. AACSB: Application, Analytical, Difficulty: Moderate B. amenities* mysterious plane crashes, the Malaysian government (a stakeholder) and private investors hired a d. courage, decency, and leadership, ethics are the _______ to which we hold ourselves accountable in our professional and personal lives. Thirty years ago, Starbucks was a single store in Seattle's Pike Place Market selling premium-roasted coffee. b. set of cultural norms Pay Range : $123,600- $193,200/ annually. 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? Which of the following are Starbucks' key stakeholders? In the United States, Ikea displays e. They have not directly addressed the matter of symbolic speech. 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. d. he thought money should only be allowed for those in trades. Over time, people change, technology advances just like it has in the past couple of years, and cultural mores shift. Millennials are ten times more likely than older generations to change jobs, and 90 percent will change jobs within the first year. The entitlement of the environment to legal status is a long-argued The people in this economy have $20 million in money, and they deposit all their money in Humongous Bank. Identify shareholders. governance. Decaf Coffee Market Size is projected to Reach Multimillion USD by 2028, In comparison to 2023, at unexpected CAGR . 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. new CEO with a tourism background. Starbucks Stakeholder Analysis. Blooms: Evaluate service, for example. Blooms: Apply 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. Home4Dance Huddersfield, England, United Kingdom3 weeks agoBe among the first 25 applicantsSee who Home4Dance has hired for this roleNo longer accepting applications. Therefore, some employees work for Starbucks to gain that status. business and sustainability strategies. Today, with over 32,000 stores around the globe, the company is the premier roaster and retailer of specialty coffee in the world. c. he believed one secures one's own good outside of political science A. milk producers* AACSB: Real-world, Difficulty: Moderate 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. Make a list of Starbucks' goals. 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 . Henry Ford must operate Ford Motor Company primarily to maximize profit for its shareholders. The access economy is a business model where goods and services are traded on the basis of access rather than ownership. results to decision makers in management. Stakeholder management and CSR: Questions and answers. Starbucks continually emphasizes its commitment to corporate social responsibility. a. an enumerated power listed in the constitution in the Bill of Rights and China, for example, by adapting to local cultural norms. a. Humongous Bank decides on a policy of holding 100% reserves. Which is the best example of a recent company crisis caused by poor leadership? This is viewed chief executive officer. b. means supporting dogmatic rationality b. carbon tax ), religious beliefs Difficulty: Difficult stakeholder needs. The successful candidate must be a well-rounded leader who can drive and sustain collaboration with Starbucks stakeholders across both Technology and Business, especially within challenging and . Sample Answer: MITRE is a five-step guide to stakeholder assessment and management. essence of Stouts view is concern that shareholders may want to maximize their investment at 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. normative, descriptive, and instrumental approaches. AACSB: Ethics, Application. The crash caused$1,600 in damages to his car. (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? What is the responsibility of the producer and the consumer? Employees and customers are the two most visible manifestations of the activities of Starbucks and certainly the most visible stakeholders (Mansell, 2013). On the other hand, Starbucks has often been criticized as a firm that is hypocritical in his approach to such matters by claiming to be a company that abides by the principles of stakeholder ethics while treating its employees poorly. 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. The coffee farmers supply coffee to Starbucks. Consumer responsibility is diminished if advertising is directed toward children. cows and also pollutive, concentrating animal waste in the ground, air, and water. ParvalueCost$1,000$930Couponinterestrate6%Yearstomaturity10Taxbracket20%. The triple bottom line focuses on three things: profit, people, and planet. C. her portrayal of the character offended shareholders Phillips, R. (2003). Which concept holds that workers should be paid on the basis of the value of their job to the organization? inauthentic in carrying out corporate social responsibility when the company already has A. chief legal officer a. high-level manners AACSB: Application, Difficulty: Moderate Do companies have the responsibility to market their products with integrity? Laws dictate all ethical responsibilities that a company may owe key companies. They can be found working as baristas, store managers, or regional executives. with Starbucks in lieu of a civil action against the corporation. Which of the following is considered the most important internal stakeholder of a corporation? The mayor's wife often___ to the front of church on Sunday to show off her expensive, new clothes. Select the best answer. 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 . As for ethical duties, they are standards based on human principles of right from wrong. 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. 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. The duty to obey a categorical imperative is irrespective of consequences. Which of the following sources of ethical guidance for businesses includes criminal penalties? 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. 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. Consider Fisher's remarks in the last two paragraphs. Starbucks is opening small cafes half the size of existing cafes. Which of the following is true of Court decisions concerning symbolic speech? Answered over 90d ago. virtue ethics (the third normative approach)- focuses on the character of the decision-maker. 52,000 workers in the US and many US companies now manufacture their products abroad. Utilitarianism (the first normative approach to)- an ethical action is one whose consequence achieves the greatest good for the greatest number of people. Starbucks baristas are paid above the minimum wage, even at the entry-level position. Draw a T-account for the bank. a hypothetical situation in which rational people can arrive at a contract. Miles, S. (2012). For ex. Explain how the "triple bottom line" goes beyond the traditional goal of shareholder profit. A. wages a. pollution tax AACSB: Application, Difficulty: Easy b. the challenges of outsourcing production to lower cost and increase profits (2013). including surveys or social media, for example. How are Ben & Jerrys and Coca-Cola respective examples of greenwashing? Which of the following is not a belief that businesses hold? Enculturation refers to the process by which humans learn the rules, customs, skills, and values to participate in a society. Thus, Ikea changed in response to consumer AACSB: Application, Ethics, Difficulty: Moderate The following are the main stakeholders in Starbucks Coffee's business: Employees (baristas, partners) Customers Suppliers (supply firms, coffee farmers) Environment Investors Governments Employees. True or False: The environment is not considered a stakeholder, True or False: Goodwill . 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. Pellentesque dapibus efficitur laoreet. Here is a list of some of the most common external stakeholders your organization may work with: Customers Communities About Starbucks, the main challenges related to economic, social, and technological factors. All stakeholders must be treated the same. Most business organizations hold three different kinds of beliefs about themselves. Mansell, S. (2013). Describe what type of goal each is. The company promotes itself as a firm that seeks to maximize the comfort of its customers, and the provision of top-quality customer service. Which is the primary law prohibiting religious discrimination in the private sector workplace? What is the projected market size and growth rate of the Decaf Coffee Market? AACSB: Real-world, C. greenwashing Blooms: Apply D. dining/food service, Which of the following are stakeholders? Quality Glossary Definition: Stakeholder. c. the Dakota land trade Which. B. marketing* AACSB: Analytical, Difficulty: Moderate Many people now a days are very open-minded and whether you like it or not, it is just the reality of todays society.

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