Starbucks Ethics in a Cup Essay - 1436 Words

In the ever evolving world of capitalism, a common thought thread of dog eat dog has emerged. In order to survive a business must do whatever it can to turn a profit, with no regard to social, environmental, or economic responsibility. This worked for a time; profits were soaring in almost every business sector. Until the business world would be rocked by scandals at the start of the twenty-first century. The lack of business ethics in corporate America led to the worst economic downfall in America since the great depression. Today lawmakers, stakeholders, and consumers are demanding more ethical business practices, and more social responsibility. Businesses that are open and conscience of ethical practices are noticing an upward†¦show more content†¦As previously mentioned Starbucks has numerous initiatives in social responsibility. Examining each exposes the company’s values revealing why Starbucks is a leader in business ethics, and why it continues to thriv e in an economic down-turn. First, is how Starbucks treats its partners; partners is the term used throughout Starbucks to refer to its employees. Each partner, full or part time is eligible for health care benefits. In 2008 when Schultz resumed his role as CEO, multiple institutional investors called asking Schultz to reduce partner healthcare coverage, which cost the company $250 million annually. Schultz refused the calls. He believed not paying the premiums would be inconsistent with the goal of turning profit (Kaplan, 2011). In addition to health care, partners can participate in the company’s Bean Stock program. The program offers Starbucks stock at 85% of its fair market value, four times a year. Starbucks partners also enjoy a 401(k), where the company matches 25% of the partners’ contribution. These benefits lead to extremely loyal employees. Food industry turnover rates are about 400% per year, while Starbucks’ is only 50% (Reis, 2010). Partn ers at every level are empowered to make ethical decision that affect the image of Starbucks. Starbucks publishes ethical guidelines and trains its partnersShow MoreRelatedStarbucks : Ethical And Ethical Issues Essay1089 Words   |  5 PagesAbstract Starbucks is renowned for its morality due to their innovative sustainability and environmental policies and operations. They strive to go beyond mandated regulations by implementing ethics as part of their core practices. However, no matter how flawless their code of ethics is; they, too, face ethical issues and commit unethical acts. First, they are responsible for putting small, local coffee shops out of business which creates a uniform retail culture throughout cities. Second, they advertiseRead MoreStarbucks : A Home Away From Home Essay1111 Words   |  5 Pagesâ€Å"To inspire and nurture the human spirit- one person, one cup, and one neighborhood at a time.† Starbucks is one of the largest chain restaurants in the United States. With over 17,000 stores located in 55 countries, and approximately 3 new stores being opened each day, Starbucks is the 3rd largest restaurant chain in the United States. When founded in 1971, the founders wanted to focus on the customer, the experience, and the product. Starbuck’s founding partners wanted to create a coffee shop thatRead MoreStarbucks : A Global Business Essay1384 Words   |  6 PagesStarbucks was founded nearly forty-five years ago as an organization that holds the belief that it was possible to balance good business with uncompromising values. (CITE 1) Starbucks is a global business that operates in over seventy countries and has more than twenty-four thousand stores. Starbucks locations serve hot and cold drinks, whole-bean coffee, espresso, tea, and pastries. Few offerings are limited to seasonal times throughout the year or are specific to the locality of the store. StarbucksRead MoreStarbuckss Corporate Social Responsibility1229 Words   |  5 PagesStarbucks’ Corporate Social Responsibility In today’s business world, companies have changed. Companies are looking to adjust to their business and community expectations by making changes in the technological machinery and devices they use to reduce the company’s negative environmental impact. In order to sustain economic businesses, companies should not only concern about the financial benefits, but also ethic firms have to care about people, society, and the environment as well (Elkington 72)Read MoreStarbucks Paper1331 Words   |  6 PagesStarbucks Coffee ACCT 227 Cost Accounting Professor Karen V. Wiebke, CPA March 22, 2009 Starbucks Coffee Seeing a Starbucks sign reminds a person of the tantalizing flavors that are brewed from the store that sells millions of people their first cup of coffee every morning. Upon walking into the store, it is inviting and welcoming. The staff is friendly and helpful and the crowd is eager to enjoy that bittersweet java on the taste buds. When an order is made, the staff prepares eachRead MoreStarbucks : An Ideal Form Of Communication1024 Words   |  5 PagesConsumers have the option to download the Starbucks app where they can register for Starbucks Rewards. The rewards program can only be used by downloading the phone app. The app allows customers to pay by phone, pre-order menu items, receive free drinks, coupons, and in store refills. The app can send notifications to the consumer when they qualify for rewards or a free drink. App users will also receive notifications when promotions are active in Starbucks retail stores. Mobile marketing in the formRead MoreStarbucks : Innovati on For Success1604 Words   |  7 PagesStarbucks FruVe Innovation to Success Coffee is a traditional approach to beginning a day. There is a variety of coffee flavors that can be accompanied by condiments. Starbucks, a United States, based company recognized the complexity of coffee preferences. More recently, Starbucks has expanded their products to include more than breakfast pastry and coffee. For the more sophisticated, adventurous or urbane coffee connoisseur, there are flavorful drinks that can satisfy the diverse tastes ofRead MoreCorporate Social Responsibility : Acme Charity1663 Words   |  7 Pagesto enter the job market in the province. AcMe Charity s seasonal events are well attended. For continued success, synergistic relationships need to be fostered. For the upcoming event: Celebrating CSR†, it is important to carefully review The Starbucks Corporation prior to inviting them to this AcMe Charity event. Corporate Social Responsibility can be defined as a company’s social performance and the impacts of the company on its internal and external stakeholders, including: customers, suppliersRead MoreThe Marketing Strategy Of Starbucks Essay1409 Words   |  6 Pagessignificantly drawn people to Starbucks due to its highly anticipated services, products, and marketing strategies that differ from most fast food restaurants. The next service is the Starbucks webpage where the customers can go onto the site and view product and also make purchases. This service is quite excellent for those that want to checkout items online through the site, because it incorporates a similar process as the application on your smartphone. Starbucks also incorporates equipment andRead MoreStarbucks Strategic Strategy Analysis1152 Words   |  5 Pagesbroad differentiation they purchased a narino supreme bean, and they also roast their own bean in their private locations. Starbucks goal is to offer the best quality coffee and to keep their customers happy. They focus on experience plus they continue to build a close relationship with their customers by creating an environment where customers can come and relax. Starbucks furthermore invests in its employees through empowering corporate culture, employee benefits, and stock ownership programs.