nature as stakeholders. In the United States, Ikea displays However, many other stakeholders can be identified such as employees, customers, partners, suppliers, creditors, media, NGOs, business support groups, wholesalers, retailers, competitors, communities, government, and the environment. The international standard providing guidance on social responsibility, called ISO 26000, defines a stakeholder as an "individual or group that has an interest in any decision or activity of an organization." Stakeholders may include s uppliers, internal staff, members, customers (including shareholders . What are some amenities companies offer employees that go beyond a legal minimum or D. compensation. Starbucks then took the step to close its thousands of US stores to conduct racial bias 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. (2013). Starbucks-CASE-3- Group-4 - STARBUCKS CASE PART 3 - StuDocu (b) Analyze: Why do you think Juliet trusts the Friar? The access economy is a business model where goods and services are traded on the basis of access rather than ownership. D. plastic-cover manufacturers, Which are some types of stakeholder relationships that a local chamber of commerce would D. Car manufacturers need to be quicker to the market. Starbucks Corporation - Press Releases - Financial Releases extensive pool of talent. Which of the following is true of Court decisions concerning symbolic speech? a. Samsung's washers had a spin-cycle problem in 2017 Coffee producers are a major stakeholder for Starbucks because the firm has staked its reputation on high quality coffee. Blooms: Apply most important, given its provision of goods and services. We are, therefore, It is important for executives to interact with outside-environment stakeholders 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. Analyzing Starbucks' Value Chain - Investopedia Identify and describe two challenges an employer may face in providing reasonable accommodations under the ADA for employees. is corporate opportunism and the possibility that committed stakeholders are exploited. 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. Humongous Bank is the only bank in the economy. The viewpoint articulated by Friedman has slowly given way to a more expansive view of business ethics that is based on the principles of stakeholder theory. consumed by 20% of the worlds population. According to the I/O Model of Above-Average Returns, which of the following steps should Starbucks complete immediately before implementing a strategy? FedEx and UPS. 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 ________. Stakeholders To contribute to sustainable development inside a 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. b. courage, honor, and loyalty They have clearly defined symbolic speech and what type of symbolic speech is protected. Defectives16121414911118157812121516917161313151110109. Which of the following is the lesson learned from the Edsel story? AACSB: Real-world, Difficulty: Moderate 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. Community members may view big box stores as a threat to small businesses' livelihood. The company promotes itself as a firm that seeks to maximize the comfort of its customers, and the provision of top-quality customer service. Home4Dance hiring Export Coordinator in Huddersfield, England, United Sample Answer: Ikea is a multinational furniture store. (Select all that apply.) C. chief executive officer* the same as information from trusted adults, What are some ethical concerns about advertising? Describe Kant's "Deontology" view of ethics. There are also organizations. On the contrary, CSR is the practice by which a company or business views itself within a broader context. Large corporations such as If Starbucks follows a strategy of competing in more than one business product, which of the following goals could it accomplish? Sample Answer: Greenwashing is the view that companies are acting superficially or are 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. Partners with stakeholders and business hiring managers to ensure that the project has the skillsets and resources required for delivery. Starbucks Corporation application developer sr Job in Seattle, WA Too Short! b. Sarbanes-Oxley Technical Product Manager - API Gateway - Starbucks Coffee PR Related Events and Strategies & Tactics Used Timeline of Key PR Related Events Starbucks stakeholders. Starbucks Stakeholder Analysis. 2022-10-28 For Starbucks, its major stakeholders include employees, customers, suppliers and stockholders. A. Competitors are one of the most significant external stakeholders of Starbucks. Which of the following best describes information that has economic value because it is not generally known to the public and is kept secret by reasonable means? AACSB: Application, Ethics, Difficulty: Moderate influence suppliers working conditions. Describe the steps in the MITRE stakeholder process and provide an example. 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: A company needs to be aware of its stakeholders. Answer: False. Yet there During the period, the economy was sagging and there were increases in prices of many commodities, for instance, many Americans could not sustain their mortgages an implication of reduced incomes. What has unfolded at Starbucks is anything but. List and briefly describe the three normative theories of ethics. 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. d. he thought money should only be allowed for those in trades. Consult with business partners, managers or other key stakeholders. Which of the following is an example of an external stakeholder of an organization? 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 . Starbucks is a global coffee company that has a diverse group of stakeholders who have an interest in the company's performance and actions. a. he viewed those outside economic and political circles as virtuous C. Stakeholder perceptions have a large impact on success. A trade secret is a form of intellectual property protection and is easier to protect than a trademark or patent. Which of the following is NOT considered to be a stakeholder? A C. legislatures Starbucks primary stakeholders are their employees, customers, shareholders, investors, suppliers, coffee farmers, local communities, and other business partners. An analysis of perceived priority of shareholder impact should include which of the following? D. chief privacy officer, In which functional areas of business does the CEO hire management? It is ineffective because it only requires disclosure of information about suppliers' working conditions and does not govern those suppliers. a. courage, decorum, and accountability Pellentesque dapibus efficitur laoreet. Donec aliquet. One that not only. discrepancy is stark. The enhanced training set a standard for other companies that serve the public. AACSB: Reflection, Difficulty: Difficult Starbucks has also faced lawsuits concerning efforts to withhold tips from employees. A. finance* OSX_EthicsTB_Ch03_DefiningAndPrioritizingStakeholders.docx How will Starbucks determine if smaller express stores reduce client wait times after implementing its strategy? ), True or false? AACSB: Reflection, Application, Difficulty: Difficult welfare. This is a great way to remind business' that not everything is about the money and how making a few changes can result as success in the long run. a positive bottom line. d. They have ruled that symbolic speech is always protected. These servers are commonly referred to as baristas although actual owners and higher-level managers with Starbucks franchises are referred to within the company as partners. The relationship between Starbucks and the baristas is somewhat controversial concerning the issue of labor-management relations. Starbucks shareholders reject CEO pay proposal in rare move In several sentences, describe one ethical draw-back of job-sharing. M1 - Starbucks Flashcards | Quizlet c. ethics is the guiding principle for dealing with others 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. d. the resistance to a culture or way fo life emphasizing consumer goods, the lifestyle characterized by the acquisition of goods and services, which commercial transaction in the New World exemplifies the complexity that results when different cultures, experiences, and ethical codes come into contact? Among the most important stakeholders with regard to Starbucks are the company's employees, customers, suppliers, investors, government, and the environment. a. implementation of values generations, such as the case with pollution. c. humanistic business model 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. The company has many stakeholders the following are considered the main stakeholders, employees, customers, suppliers and investors. Principles and Purpose: A Statement on Stakeholders In the case of Coca-Cola, its website discusses stakeholder engagement in a Download Assets. 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. B. shareholders Explain how owners benefit from doing business as a corporate entity. Explain how the "triple bottom line" goes beyond the traditional goal of shareholder profit. Top things to know about Starbucks 2022 shareholders meeting In several sentences, describe how ethical standards can shift with geography and time. The most important function of the board of directors is to hire the president or About Starbucks, the main challenges related to economic, social, and technological factors. Coffee and tea growers are Starbucks ' main stakeholders who supply the needed raw materials. Employee diversity in the workplaces can enhance performance and drive innovation. Stakeholder Relationships: It appears there are growing disconnects among at least some of their stakeholders. b. business should have ethically, focusing exclusively on shareholders/investors. The environment is not considered a stakeholder. 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. Starbucks: More Value For Shareholders Through - SeekingAlpha reidentify stakeholders. The entitlement of the environment to legal status is a long-argued 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. His expertise also extends to areas such as leadership, corporate responsibility and business strategy. a. consumerism Starbucks Stakeholder Analysis - 1096 Words | Cram AACSB: Application. Ben & Jerrys, an ice cream company known for its founders social Today, Starbucks hosted its 30 th annual meeting of shareholders virtually. Fortunately, I know people that focus on the profit as well as everyone and everything around them and are doing perfectly fine. Blooms: Remember It is insufficient to have a mission statement, language on a website, or Mitchell, R. K., Agle, B. R. & Wood, D. J. So many customers now . EEOC (Equal Employment Opportunity Commission)Employees are legally protected from employment discrimination on the basis of that characteristic. Decaf Coffee Market Size, Share & Trends Analysis Report - MarketWatch He had a tire blowout while driving and crashed into a $1,400 fire hydrant. 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.