Operations Management questions and answers. Coffee and tea growers are Starbucks ' main stakeholders who supply the needed raw materials. Blooms: Apply C. It is ineffective because it uses consumer stakeholders to pressure suppliers and make a. community 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. Blooms: Remember 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. At times, Starbucks has become embroiled in a range of political and social controversies as well (Freeman & Moutchnik, 2013). (Select all that apply.) Misunderstanding and lack of communication tend to happen even more. Which commercial transaction in the New World exemplifies the complexity that results when different cultures, experiences, and ethical codes come into contact? \text { Cost } & \$ 930 & \text { Years to maturity } 10 & Supply Chains Act also implicates the welfare of stakeholders. A. milk producers* Donec aliquet. Sample Answer: A company needs to be aware of its stakeholders. For the coffee producers, Starbucks' position with regards to their needs can have a tremendous impact on the ways in which other coffee purchasers treat them as well. . A. a. promising to earn less profit per share AACSB: Analytical, Difficulty: Moderate In three to four sentences, describe the difference between legal compliance and social responsibility. Many people in the UK will have a product from Thornton & Ross somewhere at home. PR Related Events and Strategies & Tactics Used Timeline of Key PR Related Events Explain using details from the text. The company has many stakeholders the following are considered the main stakeholders, employees, customers, suppliers and investors. premise by lawyers and legal-aid groups. Consider Fisher's remarks in the last two paragraphs. About Starbucks, the main challenges related to economic, social, and technological factors. It is ineffective because it only requires disclosure of information about suppliers' working conditions and does not govern those suppliers. Those men later settled AACSB: Real-world, Difficulty: Moderate a. her portrayal of the character was insincere Donec aliquet. 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. Sample Answer: Ikea is a multinational furniture store. Which is the best example of a recent company crisis caused by poor leadership? Thirty years ago, Starbucks was a single store in Seattle's Pike Place Market selling premium-roasted coffee. A. entities and people invested and influential in the success of an organization* 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. Managing and executing the strategy of a company, B. Supervising middle and senior management, D. Evaluating the salary and benefits of senior management*, Campbell Biology (Jane B. Reece; Lisa A. Urry; Michael L. Cain; Steven A. Wasserman; Peter V. Minorsky), Civilization and its Discontents (Sigmund Freud), Chemistry: The Central Science (Theodore E. Brown; H. Eugene H LeMay; Bruce E. Bursten; Catherine Murphy; Patrick Woodward), Educational Research: Competencies for Analysis and Applications (Gay L. R.; Mills Geoffrey E.; Airasian Peter W.), Forecasting, Time Series, and Regression (Richard T. O'Connell; Anne B. Koehler), Brunner and Suddarth's Textbook of Medical-Surgical Nursing (Janice L. Hinkle; Kerry H. Cheever), Principles of Environmental Science (William P. Cunningham; Mary Ann Cunningham), Business Law: Text and Cases (Kenneth W. Clarkson; Roger LeRoy Miller; Frank B. (Starbucks does not follow the traditional franchising terms.) that uses billions of liters of water in a community where many people are without water. Sample Answer: In May 2018, Starbucks closed its stores after an incident in which two African Select the best answer. Once data are validated, managers present the B. entities and people with one role at one time to care for a business, What do peers and competitors as normative stakeholders influence? Fu, itur laoreet. Athenian philosophical theories of ethics are no longer applicable in contemporary times, Which of the following describe original position? Some ads exaggerate or distort what goods or services deliver. Has opportunity to lead a team. and avoiding bias. Miles, S. (2012). In a perpetual existence, when a sole proprietor or partner dies, the assets may go to the heirs, but the business no longer exists. __ A program where students work on campus to earn money. insufficient. Car design should focus on being competitive on the road. with Starbucks in lieu of a civil action against the corporation. Humongous Bank is the only bank in the economy. Here is a list of some of the most common external stakeholders your organization may work with: Customers Communities reidentify stakeholders. 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. Participate in and support community . c. actions a firm undertakes to satisfy the base threshold for acting ethically people do not need some of the promoted products or services. Which are some types of stakeholder relationships that a local chamber of commerce would have? Which of the following is a resource made available to employees, in addition to salary? Certainly, Starbucks is a firm that contains or is associated with many kinds of stakeholders. Which legislation was passed in 2002 that mandates reporting transparency by businesses in areas ranging from finance to accounting to supply chain activities? c. Assume that Humongous bank is part of a multibank system. Capitalism, corporations and the social contract: A critique of stakeholder theory. Describe Kant's "Deontology" view of ethics. long-term dialogue to inform the companys decision making and as a core component of its Consumers support big box stores that offer quality goods and reasonable prices, Which of the following are Starbucks' stakeholders? governance. 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 . Some prioritization is particular to How will Starbucks determine if smaller express stores reduce client wait times after implementing its strategy? c. They have extended protections to only some forms of symbolic speech. This can be a consumer who is unable to express their discontent with a product or Berrett-Koehler Publishers. AACSB: Real-world, C. greenwashing Stakeholder Relationships: It appears there are growing disconnects among at least some of their stakeholders. How does a corporation prioritize stakeholder claims? Most business organizations hold three different kinds of beliefs about themselves. What is the ethical issue behind issuing disaster insurance? The crash caused$1,600 in damages to his car. Answer: False, True or false? Which insurance covers the damage to the fire hydrant? Which of the following is considered the most important internal stakeholder of a corporation? Which of the following statements does not depict deontology? A company's Board of Directors is responsible for guiding CEO succession, which should be a well-planned event. generations, such as the case with pollution. 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 . An employee who works in the graphic design department of a large advertising agency most likely cannot moonlight after business hours for a friend's ________. 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. AACSB: Ethics, Difficulty: Easy Rachel Carsons 1962 book, True or false? Blooms: Remember local, state, national, and international laws and regulations. Intellectual- includes knowledge, wisdom, and prudence (the most important one). 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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. The phrases Starbucks and Coffee were later removed from the cup so that the brand might potentially extend beyond coffee products. 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. Which of the following is the lesson learned from the Edsel story? Which of the following is NOT a characteristic of a strategic leader and stakeholder such as Howard Schultz? (Select all that apply.) B. government liaison/lobbying director want companies to treat stakeholders well to encourage customer and employee loyalty. Communities and institutional investors seem unhappy with the ethical posture of the company . From the beginning, Starbucks set out to be a different kind of company. Q: The focus on chapter 6 is diversification which can mean different things for companies depending on the context. In what ways do customers express their views about trust of company goods and services? One way to address the issue of shared responsibility between corporations and society is the implementation of a(n) ________. Which of the following does Starbucks consider to be a strong asset that helps it build its revenue gains? b. set of cultural norms FedEx and UPS, two of the largest shipping companies in the world, have both stopped sending shipments to Russia. welfare for two reasons: It is good for business and the right thing to do. In the case of Dodge v. Ford Motor Company, the Michigan Supreme Court ruled in favor of shareholder primacy. 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 b. Sarbanes-Oxley companies. Which of the following actions are needed to implement Howard Schulz's strategy of putting Starbucks' innovation on display? He has the following security-related information: Parvalue$1,000Couponinterestrate6%Taxbracket20%Cost$930Yearstomaturity10\begin{array}{llll} When expanded it provides a list of search options that will switch the search inputs to match the current selection. Ben & Jerrys, an ice cream company known for its founders social AACSB: Analytical, Difficulty: Easy Since the advent of pilgrimages in response to passenger stakeholder interests in making such trips. Applying the big box store example from the chapter, which conflicts demonstrate that stakeholder claims vary? Answer: False. Sample Answer: Customers are articulate about their views of a company. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. most important, given its provision of goods and services. coffee and tea growers. The Porter's Five Forces analysis of Starbucks Corporation shows that these competitors and related industry factors and market factors combine to create the strong force of competitive rivalry in the food service industry environment. Which of the following does an entrepreneur typically need to be willing to do to start a business? Which is the primary law prohibiting religious discrimination in the private sector workplace? Nam lacinia pulvinar tortor nec facilisis. (Select all that apply. Defectives16149111581216171315109121411871215916131110\begin{aligned} (A)[1,3](B)[0,2](C)[3,4]. A. chief legal officer We will send [DOCUMENT_TITLE] to your email. In the early 21st century, a slow but gradual change has taken place in the corporate world concerning questions of business ethics. The following are the main stakeholders in Starbucks Coffee's business: Employees (baristas, partners) Customers Suppliers (supply firms, coffee farmers) Environment Investors Governments Employees. Shareholders are certainly an important component of the stakeholders of a corporation (Freeman & Moutchnik, 2013). C. Gather and analyze appropriate data. All stakeholders must be treated the same. essence of Stouts view is concern that shareholders may want to maximize their investment at AACSB: Application, Real-world, Difficulty: Moderate 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. A company must identify and c. the freedom and ability to make choices based on one's perception of right and wrong and China, for example, by adapting to local cultural norms. 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 . (Select all that apply. urban and suburban communities influence suppliers working conditions. \end{aligned} 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. It c. marketing Answer: False. service, for example. Deontology is often regarded as a "here and now" philosophy. 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 In the end, it means being responsible to our stakeholders. Blooms: Evaluate (Select all that apply.) STEP 1: DEFINE STAKEHOLDER ENGAGEMENT Discuss the meaning of stakeholder engagement. It is important to focus on employees and customers when considering the ways in which Starbucks is impacted by the principles of stakeholder ethics. Starbucks competes with many other coffeehouses, including Dunkin' Donuts, McDonald's, and Caribou Coffee. To uphold honorable standards of behavior. About Path Since its foundation in 1984, PATH (People Assisting The Homeless) has pioneered bold and effective approaches to assist people experiencing homelessness. An ethical financial advisor must ________. There are dedicated sites 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. Sample Answer: Companies must take into account the welfare of stakeholders because it is stakeholder needs. D. It is effective because it expects NGOs, state governments, and political action committees to a. the "purchase" of Manhattan 4 Consolidated net revenues increased 24% to $29.1 billion for the. It must determine which are Also, it is crucial that the company inform Today, with over 32,000 stores around the globe, the company is the premier roaster and retailer of specialty coffee in the world. such as media and government. McDonald's London, England, United Kingdom1 month agoBe among the first 25 applicantsSee who McDonald's has hired for this roleNo longer accepting applications. What research did the BBC Earth Lab cite to prove or disprove that subliminal advertising is real? D. pet owners, Which of the following are the duties of the board of directors? It is insufficient to have a mission statement, language on a website, or This is viewed Academy of Management Review, 22(4), 853886. So many customers now . When it comes to paying their "duties" to society, a corporation can do that by donating to places that need it or by using eco-friendly products. It also changed its policy of allowing noncustomers to visit its stores and use restrooms. Which is the best example of a novelty craze? Blooms: Understand, Apply Environmentalists raise the issue of species and Nam risus ante, dapibus a molestie consequat, ultrices ac magna. 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. Technology companies such as Facebook, Apple, and Yahoo (now owned by Verizon) have reported gender and ethnic shortfalls in their workforces. Do you think she believes the brain chemistry of romantic love and the response to rejection is rational or irrational? AACSB: Application, Difficulty: Easy 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.

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