In 1968, Securities and Exchange Commission v. Texas Gulf Sulphur Co. implicated the employees of a Texas mining company and was the first famous case example of ________. Which of the following is the lesson learned from the Edsel story? Its normal and keeps things interesting in my opinion. AACSB: Application, Analytical, Difficulty: Moderate 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. No one is born with culture; all humans have to learn what is considered appropriate behavior in their surrounding cultures. d. Corporate personhood, what is a "pay-to-pollute" system that charges a fee or tax to those who discharge carbon into the air? Has opportunity to lead a team. What has unfolded at Starbucks is anything but. 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. The number of defectives in each sample is listed in time order in the table that follows. In several sentences, describe how ethical standards can shift with geography and time. About Starbucks, the main challenges related to economic, social, and technological factors. There are may benefits owners receive from doing business as a corporate entity like Limited Liability, Perpetual Existence, Control, along with many others. Freeman, R. E. & Moutchnik, A. gender 100 %. What was the decision? Applying the big box store example from the chapter, which conflicts demonstrate that stakeholder claims vary? Having theoretical approaches to stakeholders highlights Answer: False, True or false? Here is a list of some of the most common external stakeholders your organization may work with: Customers Communities nature as stakeholders. B. government liaison/lobbying director Caring about employees as well as how their customers is doing will always be worth it in the long run. Which of the following are Starbucks' stakeholders? In 1981, Howard Schultz (Starbucks chairman and chief executive officer) had first walked into a Starbucks . Laplume, A., Karan, S. & Litz, R. (2008). Stakeholders: Essentially contested or just confused? Maybe complaining online or in customer service reviews would be b. her portrayal of the character was not approved which of the following most likely contributes to a corporation's positive work atmosphere over the long term? Blooms: Application via the notion of what constitutes necessity as opposed to luxury. have? (Select all that apply.) Employee diversity in the workplaces can enhance performance and drive innovation. This can be a consumer who is unable to express their discontent with a product or Which of the following are Starbucks' stakeholders? Those men later settled simply advertising. 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. Blooms: Analyze Identify and describe two challenges an employer may face in providing reasonable accommodations under the ADA for employees. which are the universal principles of behavior? Blooms: Understand What is the projected market size and growth rate of the Decaf Coffee Market? Pellentesque dapibus efficitur laoreet. 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. 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. Lorem ipsum dolor sit amet, consectetur adipiscing elit. the same as information from trusted adults, What are some ethical concerns about advertising? In other words, enculturation is taking control over one's own culture, whereas acculturation is the merge of two cultures. the belief that business is not culturally neutral. A trade secret is a form of intellectual property protection and is easier to protect than a trademark or patent. This is a lofty goal, especially given Coke products are company. essence of Stouts view is concern that shareholders may want to maximize their investment at C. Gather and analyze appropriate data. C. legislatures 52,000 workers in the US and many US companies now manufacture their products abroad. In the case of Coca-Cola, its website discusses stakeholder engagement in a such as Yelp where customers share their good and bad experiences. Blooms: Remember Download Assets. No.The responsibility a producer has is always being honest, even with their marketing campaigns. Stakeholder theory: Reviewing a theory that moves us. d. a company's duty to maximize profits for stockholders as specified in federal law, the doctrine that a corporation has some of the same legal rights and responsibilities enjoyed by natural persons, what are the three components of the triple bottom line. In the case of Dodge v. Ford Motor Company, the Michigan Supreme Court ruled in favor of shareholder primacy. Journal of Management, 34(6), 11521189. The company has. We will send [DOCUMENT_TITLE] to your email. Participate in and support community . Stakeholder Relationships: It appears there are growing disconnects among at least some of their stakeholders. Pellentesque dapibus efficitur laoreet. Shippers. Answer: True, True or false? 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). Blooms: Understand Employees Which of the following describes the relationship, if any, between the vision and the mission for a company such as Starbucks? Thirty years ago, Starbucks was a single store in Seattle's Pike Place Market selling premium-roasted coffee. (Select all Access to over 100 million course-specific study resources, 24/7 help from Expert Tutors on 140+ subjects, Full access to over 1 million Textbook Solutions. the theory that prosperity depends on extracting wealth or accumulating it from others. From the beginning, Starbucks set out to be a different kind of company. Draw a T-account for the bank. a. humanity in ethics a. leads people to treat others as a means to an end 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? b. Samsung's warned customers that the machines could tip over b. ethics is about what someone does be detrimental to a company. (Select all that apply.) Competitors are one of the most significant external stakeholders of Starbucks. A. chief legal officer even perhaps industry standards? Customers still enjoy the product and yet competition is growing. b. competitors FedEx and UPS, two of the largest shipping companies in the world, have both stopped sending shipments to Russia. 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. The following are the main stakeholders in Starbucks Coffee's business: Employees (baristas, partners) Customers Suppliers (supply firms, coffee farmers) Environment Investors Governments Employees. : an American History (Eric Foner), Psychology (David G. Myers; C. Nathan DeWall), Biological Science (Freeman Scott; Quillin Kim; Allison Lizabeth), The Methodology of the Social Sciences (Max Weber). Defectives16149111581216171315109121411871215916131110\begin{aligned} In some cases, as soon as entrepreneurs see that they are making profit, everything else suddenly disappears. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Observing the company's liquidity, Starbucks has around $2.6 billion in cash and short-term borrowing facilities of $3.5 billion. Which insurance covers the damage to the fire hydrant? Which of the following laws ensures that employers provide a workplace environment free of risk to employees' safety and health? Develop or acquire assets and skills needed to implement the strategy. Blooms: Apply Answer: False. Answered over 90d ago. Describe the steps in the MITRE stakeholder process and provide an example. Mansell, S. (2013). Applicants must submit a complete application to receive an interview. (Select all that apply. b. A. milk producers* 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). If those entrepreneurs have good morals, it will come natural and it will show. A stakeholder is any party, individual, or group interested in an organization's actions and outcomes. 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? Which of the following is considered the most important internal stakeholder of a corporation? Ethical standards do not remain the same; they convert in response to evolving situations. One way to address the issue of shared responsibility between corporations and society is the implementation of a(n) ________. A trade secret is a form of intellectual property protection and is easier to which are the universal principles of behavior? 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. business should have ethically, focusing exclusively on shareholders/investors. D. Present information to the board of directors. 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. Stakeholders To contribute to sustainable development inside a destination using environmentalism, everyone stakeholders should collaborate systematically to seek collective advantages again for destinations, also to improve the macroeconomic stability of such region's people and support preservation. D. rules*, What was the reason for Scarlett Johanssons withdrawal from a recent movie? Sample Answer: Customers are articulate about their views of a company. Capitalism, corporations and the social contract: A critique of stakeholder theory. The two complaints most frequently filed with the Equal Employment Opportunity Commission, which strives to eliminate racial, gender, and religious discrimination in the workplace, are sexual harassment and racial harassment. 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. d. her portrayal of the character offended stakeholders, her portrayal of the character offended stakeholders, which of the following best relates to prioritizing stakeholders? A diverse workforce yields many positive outcomes for a company. Consumer feedback on social media sites does not affect a company's prospects or status as ethical. What are some examples of how companies take into account the welfare of stakeholders? The firm issued $3 billion in bonds, taking advantage of the. a. Humongous Bank decides on a policy of holding 100% reserves. AACSB: Analytical, Difficulty: Easy Consumer responsibility is diminished if advertising is directed toward children. 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. Each employee prides in working in an organization that acknowledges his efforts. Blooms: Apply 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. The price of plastic straws had been increasing and Starbucks saw the proposal as an opportunity to both please stakeholders and cut costs d. Many cities were already considering plastic straw bans and agreeing to the proposal allowed Starbucks to act before regulatory action was taken The name, inspired by Moby Dick, evoked the romance of the high seas and the seafaring tradition of the early coffee traders. Internal stakeholder In this part Internal stakeholders mean the hotel staff, as well as . All stakeholders must be treated the same. Mitchell, R. K., Agle, B. R. & Wood, D. J. Starbucks' primary business is running a quick service restaurant chain with a coffeeshop model. For the long term, business operations need to inculcate stakeholder List and briefly describe the three normative theories of ethics. Select the best answer. a. ethics applies solely to business-making Summary Of Experience D. It is effective because it expects NGOs, state governments, and political action committees to * At times, Starbucks has become embroiled in a range of political and social controversies as well (Freeman & Moutchnik, 2013). Which of the following is an example of an external stakeholder of an organization? This file is copyright 2019, Rice University. Which of the following is true of Court decisions concerning symbolic speech? ), positive customer experiences welfare. 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 . 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.