...Starbucks: Ethics and Compliance FIN 370 August 7, 2012 Professor Tom Brady Starbucks: Ethics and Compliance Business Ethics and Compliance is a platform that undergirds Starbucks operation and assists to safeguard its philosophy and name by supplying ways that help associates make moral judgments at work (Starbucks Corporation, 2012). Starbucks has been on the scene since 1971 and has continued to grow at a minimum rate of 20 percent annually. Starbucks is known as the collegiate meeting place and the patrons are as diverse as its employees. Business professionals, students, stay at home mothers and dads alike find that Starbucks is one of the many places that are not biased in service or its beliefs. For the last 5 years Starbucks has been awarded as one of the most ethical companies in the world. The award recognizes companies that actually go past making statements about doing business "ethically" and transform those words into deeds that benefit all mankind (Ethisphere, 2012). As a company Starbucks believes that equal and fair treatment of every person is detrimental to making any business successful. In an effort to make sure that Starbucks remains a thriving business ethical compliance has been a major focus of the company from its beginning. Every employee is educated in what ethical policies are and the expected role he or she is to play once employed. Starbucks is known to embrace diversity and consider every employee a partner in changing the world one...
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...Ethics and Compliance – Starbucks Finance for Business FIN/370 September 23, 2013 Ethics and Compliance – Starbucks – They also have seasonal changes so be sure to mention those wherever they may fit in. Starbuck has an extraordinary ethics and compliance financial environment. Starbucks has implemented several procedures to ensure this ethical behavior is consistent throughout the organization. Financial Markets serve and important role within the United States and Starbucks has integrated the market techniques to further their fortune. In addition, Starbucks complies with SEC regulations. Team A has obtained Starbucks annual report and SEC filings for the past two years. Using financial ratios, such as current, debt, return on equity, and day’s receivable. Team A will determine and the trend for each ratio in conjunction with Starbucks financial health will be analyzed. Ethics and Compliance in Starbucks Financial Environment - Sergio * Assess the role of ethics and compliance in your organization’s financial environment. Procedures to Ensure Ethical Behavior * Describe procedures your organization has in place to ensure ethical behavior. They also have seasonal changes so be sure to mention those wherever they may fit in. * Financial Markets Work in the United States – The financial market is a place where buyers and sellers participate in the trade of assets such as equities, bonds, currencies and derivatives. Financial markets are typically...
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...Ethics and Compliance Paper FIN/370 July 14, 2011 Ethics and Compliance Paper Introduction Starbucks boasts that they serve the best coffee possible to meet their mission to inspire and nurture the human spirit, one person, one cup, and one neighborhood at a time. Starbucks has grown from one store in Seattle founded by two teachers and a writer in 1971 to more than 17,000 stores throughout the United States and overseas companies. Of these, 53% are directly owned by Starbucks and the rest in franchised contractor leases. This amazing feat brought three people together, each using $1,350, and borrowing $5,000 to make over a billion dollar per year successful business 40 years later. The name Starbucks was their original name in reference to the coffee-loving first mate in Moby Dick, and the design was from the two-tailed siren mermaid. Most recognize the Starbucks brand as a house-hold name and should also know that they are proud and committed to their coffee knowledge, customer service, and product expertise. They call their employees partners and offer Starbucks internal programs such as comprehensive health coverage and equity in the company. Every Starbuck’s employee knows he or she is a visual symbol of the company and needs to work as if each store was hid or her own. Starbucks also adheres to the requirements of the Security Exchange Commission (SEC), which is a publicly traded company known as SBUX. The aim of this paper is to discuss the roles of ethics...
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...Evaluation of a business code of ethics Joshua McCoy PHL/323 March 21, 2012 Dr Sharon Thomas Evaluation of a business code of ethics There are many different types of ethics in the world today. The one that I will talk about will be the business code of ethics of Starbucks Coffee Company. In 1971 Starbucks opened its first store in Seattle’s Pike Place Market. In 2010 Starbucks has over 16,858 in both the United States and all over the world. Starbucks mission statement is “Our mission: to inspire and nurture the human spirit – one person, one cup and one neighborhood at a time. Here are the principles of how we live that every day: Our Coffee: It has always been, and will always be, about quality. We’re passionate about ethically sourcing the finest coffee beans, roasting them with great care, and improving the lives of people who grow them. We care deeply about all of this; our work is never done. Our Partners: We’re called partners, because it’s not just a job, it’s our passion. Together, we embrace diversity to create a place where each of us can be ourselves. We always treat each other with respect and dignity. And we hold each other to that standard. Our Customers: When we are fully engaged, we connect with, laugh with, and uplift the lives of our customers – even if just for a few moments. Sure, it starts with the promise of a perfectly made beverage, but our work goes far beyond that. It’s really about human connection. Our Stores: When our customers...
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...Starbucks Corporation Ethics and Compliance Michelle Anderson, Deida Camacho, Michelle Garcia, Adam Orndorf FIN/370 May 28, 2012 Joseph Potts Ethics and Compliance Starbucks was established in Seattle, Washington, by Jerry Baldwin (English teacher), Zev Siegl (history teacher) and writer Gordon Bowker (Funding Universe, (n.d) Starbucks is famous for its distinctive roasted coffee flavor and its incomparable taste. Starbucks is known worldwide and based on its success more than 17,000 branches in over 55 countries (Starbucks Corporation, 2012). The following paper will review annual report data (2010 and 2011) and will also discuss the SEC filing for this corporation. This paper will also address the role of ethics and compliance for Starbuck financial environment. A description will be given on how financial markets work in the United States. This paper will also discuss the procedures the Starbucks has put in place to ensure ethical behavior and will also identify the process used to ensure that the business complies with the SEC regulations. Based on the 2010 and 2011 reporting, calculation on current ratio, debt ratio, return on equity ratio, and days receivable will be presented. Ratio movement/changes will provide business financial health information based on the two-year period. Business Ethics and Compliance Business ethics and compliance is important to Starbucks. Starbucks believes that conducting business ethically and striving to do right...
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...Starbucks Annual Report and SEC Filings Shawn Casto, Jessica Ferraro, Leslie Haynes Samantha Eason, Cyntia Portal UOP Finance for Business FIN/370 Dr. Dana Williams February 15, 2014 Starbucks Annual Report and SEC Filings Starbucks first opened their doors in 1971, and since then they have felt a responsibility to make a positive impact one person, one cup, and one neighborhood at a time. Starbucks has grown to now more than 18,000 in over 60 countries; they recognize that commitment to corporate citizenship is also a business imperative. Each Starbucks is part of the fabric of the neighborhood it serves, as a gathering place and a place to connect. Our evaluation and analysis of the company’s growth over the past two years will give you a clear picture of the biggest international coffee corporation performance. Ethical business-making is something Starbucks considers one of the main and most valuable traits of the global brand, as it not only benefits the business in the long-term, but employees, partners and consumers as well. These practices are discussed with employees extensively. As instructed by Starbucks' Business Ethics and Compliance Booklet, commonly reviewed by new employees, "Starbucks is committed to full compliance with the laws, rules and regulations of the countries in which it operates. You must comply with all applicable laws, rules and regulations when performing your duties" (Starbucks, 2011). These guidelines are carried out by Starbucks...
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...Business Ethics and Compliance Standards of Business Conduct Dear Fellow Partner: Starbucks is the premier roaster and retailer of specialty coffee in the world and has become a truly global brand. From the beginning, we have recognized that you, our partners, are critical to our continued success. Starbucks reputation for the finest coffee in the world, legendary customer service and the highest integrity is the direct result of our collective efforts. We are all caretakers of Starbucks reputation. How we conduct our business and how we treat others—our fellow partners, customers, communities, suppliers and shareholders—will continue to determine how the world views Starbucks. “ tarbucks reputation for the finest coffee S in the world, legendary customer service and the highest integrity is the direct result of our collective efforts.” Each of us is personally responsible for supporting our core values, which require compliance with the law as well as ethical conduct. We have issued the Standards of Business Conduct to restate our longstanding commitment to uphold that responsibility and to provide guidance to our partners. As we move forward, the Standards will help ensure that our values continue to be reflected in each Starbucks store and business activity. A commitment to integrity, acting honestly and ethically, and complying with the letter and intent of the law are critical to our continued success. Thank you for your partnership...
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...Business Ethics and Compliance Standards of Business Conduct Dear Fellow Partner: Starbucks is the premier roaster and retailer of specialty coffee in the world and has become a truly global brand. From the beginning, we have recognized that you, our partners, are critical to our continued success. Starbucks reputation for the finest coffee in the world, legendary customer service and the highest integrity is the direct result of our collective efforts. We are all caretakers of Starbucks reputation. How we conduct our business and how we treat others—our fellow partners, customers, communities, suppliers and shareholders—will continue to determine how the world views Starbucks. “ tarbucksreputationforthefinestcoffee S intheworld,legendarycustomerservice andthehighestintegrityisthedirectresult ofourcollectiveefforts.” Each of us is personally responsible for supporting our core values, which require compliance with the law as well as ethical conduct. We have issued the Standards of Business Conduct to restate our longstanding commitment to uphold that responsibility and to provide guidance to our partners. As we move forward, the Standards will help ensure that our values continue to be reflected in each Starbucks store and business activity. A commitment to integrity, acting honestly and ethically, and complying with the letter and intent of the law are critical to our continued success. Thank you for your partnership. Warm regards, Howard...
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...situation in which a market-driver loses its footing? Take Starbucks for example: Can you imagine a future in which Starbucks no longer enjoys the prominence it has at the moment? Why, or why not? “Market-driving companies are usually new entrants to the industry, although there are exceptions. The history of innovation is a pattern in which bursts of breakthrough innovation that reshape an industry are interspersed by flows of less dramatic incremental improvements.” According to that I generally do believe that companies that drive the market have enduring competitive advantages compared to e.g. market-driven companies because they focus on a vision for the future, unhampered by traditional thinking and industry norms for product or service development. Market-driving companies are poised to make discontinuous leaps in innovation in terms of customer value. Moreover they also have a mission to build unique business systems through technology and business model innovation or rather entrepreneurial capabilities. As most of the market-driving companies, STRABUCKS started small but its market-driving potential was inscribed in its DNA. Starbucks will always continue to be a market-driving company because it achieves long-run equilibrium with supra-normal profits and hences a sustained competitive advantage. The secret behind this success or rather behind becoming an “owner of the market”, is the fact that STARBUCKS is a company with revolutionary ideas, not products, which again...
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...Starbucks’ Ethics and Compliance Paper Ethical behavior within a company is very important to its future and success. This type of behavior is not just important for the employees to follow, but for the entire company. In 2001, a failing company called Enron was involved in numerous unethical behaviors. For example, Enron’s Chief Financial Officer temporarily suspended their “code of ethics” not once, but twice in order to partake in personal financial gain. Enron’s actions eventually resulted in bankruptcy and assisted with the creation of a new set of guidelines for companies to follow. The so-called guidelines were called the Sarbanes-Oxley Act (Titman, S., Keown, A.J., & Martin, J.D. 2011). The SOX helped institute a set of rules for companies to follow, one being the creation and compliance of a code of ethics within every company. One company that seems to do a very good job with complying with the guidelines of SOX is Starbucks Corp. They have a strong program set in place to support their mission of making ethical decisions at work. The use of their program “Business Ethics and Compliance” might just be the very reason why their SEC filings show a relatively successful business. Financial Environment In regards to the finance environment, Starbucks plays an active role in ethics and compliance. Not only are their employees offered ways to voice concerns of unethical issues in the work place, but also Starbucks’ partners as well. Starbucks holds a meeting...
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...Organizational Commitment and Communication Starbucks uses organizational communication to share important information and messages. The company operates at the international level in coffee supply and coffeehouse chain (Starbucks Coffee Company, 2012). Organizational communication at Starbucks is well developed. Leadership plays an important role with in Starbucks in terms of organizational communication. Leadership helps establish the effectiveness of communication with in the company to help increase growth and success. Starbucks cannot adopt to the different leadership style because of the impact of the working environment and the performances of their employees. If Starbucks were to use autocratic leadership the directions would be given to the associates, where they would be expected to follow the directions. Autocratic leadership suggests a one-way communication process in the company. Therefore, management would keep their authority and have control over the decision-making. Starbucks believes in improving the quality of their business but by using an autocratic leadership style they will loose their group communication and also the success of their long-term goals. If Starbucks were to have a charismatic leader then the managers will be able to influence the employees. The employee’s that receives the motivation will put in greater effort to achieve Starbucks goals, mission, and vision. Charismatic leader can motivate their employees and convince them to get the...
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...Professor Sarin Jarvis August 1, 2015 Starbucks Ethical Or Unethical? I chose to do my paper on Starbucks because I love their company and get my coffee there every morning of the work week. I was interested in finding out whether the company I was supporting was being ethical to its employees or not. I will research Starbucks and who they get their products from and find out just how ethical of a company they are. Thesis: Starbucks claims that they are very ethical and have won awards for being so ethical. But, are they really as ethical sense day one till present as they claim to be. The question is does Starbucks do all their business from grower to a cup of coffee ethically. I start my paper by telling you, the public; about when Starbucks started business and how many stores around the world they have at this current moment. I will show you how Starbucks tries really hard as a large company to come across to their investors and the public as being an ethical company and how they are fair to all their employees and the farmers that grow their coffee beans. I will show you how they are unethical in the way they treat their farmers. I will also show you how they became known as unethical by the way they treated their unionized workers in Chile. This unfair pay that the Chilean workers were receiving was not a fair wage. Starbucks workers in Chile went on strike and Starbucks hired nonunion workers to replace them which were unethical and Starbucks was fined for doing so. I will provide...
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...INTRODUCTION: Starbucks Corporation started its business in March, 1971. It was a single store that provided the best quality coffee made from the fresh roasted coffee beans. In 1981 Howard Schultz joined the company and he travelled to Italy and visited many Coffee Bars there and brought new ideas with him. He wanted to introduce the Italian coffee tradition in the America. The idea was to create a third place for the people other than the office and workplace where they can socialize with each other. With this vision, in August 1987 he purchased Starbuck with the help of a local investor and launched an outlet outside Seattle. (Starbuck, 2013). By the time, the store kept on growing and today it has more than 17,000 stores in 55 countries. It is the largest retail coffee retailer of the world that claims to work on the original vision of its Chairman Schultz. More than 100 million of American takes 3 to four cups of coffee daily on average basis and it is interesting to know that 25 million of the coffee drinker are the Starbucks customers. Starbucks Coffee price is significantly high than of its competitors but that does not affect the profitability of the company because customers are willing to pay that price as the brand provides them the best quality coffee. The company’s mission for being socially responsible has also earned a lot of respect and the positive image for the company. (Starbuck, 2013). The Starbucks Corporation has employed more than 100,000 employees...
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...Evaluation of a Business Code of Ethics Evaluation of a Business Code of Ethics Business codes of ethics are written guidelines use by an organization to set the standards for employees and management conduct and behavior ("Businessdictionary.com," 2013). Business code of ethics is important to deal with ethical the rules and principles needed for a successful business. Also known as code of conduct a business code of ethics reflect an organization values, ethics, objective, and responsibilities ensuring corporate responsibility, quality assurance, and customer satisfaction creating excellence, accountability, and transparency. In this paper an explanation and description of some general information concerning Starbucks mission, and ethical system uses with examples of their uses. The essay will also identify how the code of ethics affects employees, managers, and board of directors within the organization. An explanation of the organization need to modify the existing code of ethics and the best method to implement these changes will be discussed. Furthermore, a discussion of the possible reactions from employees, managers, and the effects the code may have on the organization will be provided. Starbucks general information general information, mission statement, and code of ethics Starbucks first opened in 1971 in Seattle historic Pike Place Market owned by three partners Jerry Baldwin, Zev Siegel, and Gordon Bowker. During the first decade,...
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...person, one cup, and one neighborhood at a time. Today, with more than 15,000 stores in 50 countries, Starbucks is the premier roaster and retailer of specialty coffee in the world. And with every cup, we strive we bring both our heritage and an exceptional experience to life. Starbucks believes that conducting business ethically and striving to do the right thing are vital to the success of the company. Business Ethics and Compliance is a program that supports Our Starbucks Mission and helps protect our culture and our reputation by providing resources that help partners make ethical decisions at work. The program develops and distributes awareness materials, including the Standards of Business Conduct; facilitates legal compliance and ethics training; investigates sensitive issues such as potential conflicts of interest; and provides additional channels for partners to voice concerns. Partners are encouraged to report all types of issues or concerns to the program through their choice of the offered communication channels. The majority of reports received by Business Ethics and Compliance involve employee relations issues. This trend is consistent with other companies – retail or otherwise – that provide alternative reporting mechanisms as part of a comprehensive ethics and compliance program. For more information about our commitment to Global Responsibility, visit Starbucks™...
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