Lesson 1: The Importance of Business Ethics

Welcome to Lesson 1.

Making good ethical decisions are just as important to business success as mastering management, marketing, finance, and accounting decisions. While education and training emphasize functional areas of business, business ethics is often viewed as easy to master, something that happens with little effort. The exact opposite is the case. Decisions with an ethical component are an everyday occurrence requiring people to identify issues and make quick decisions. Ethical behavior requires understanding and identifying issues, areas of risk, and approaches to making choices in an organizational environment.

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Reference: FERRELL, FRAEDRICH, AND FERRELL (2013). BUSINESS ETHICS (10th ed.). Stamford, CT: Cengage Learning.

COURSE MATERIALS:

Please read the following section contained in the textbook: Chapter 1

Read the Case Study entitled “Starbucks’ Mission: Social Responsibility and Brand Strength” on page 396 of the text and review the following articles:

https://www.starbucks.com/about-us/company-information/business-ethics-and-compliance
https://www.forbes.com/sites/pamdanziger/2018/04/25/starbucks-needs-a-reputation-boost-will-closing-for-racial-bias-education-do-it/#6eeea610397e
https://www.dallasnews.com/opinion/commentary/2018/04/19/morality-starbucks-isnt-moral-enough

Respond to the following questions:

1. Why do you think Starbucks has been so concerned with social responsibility in its overall corporate strategy?

2. Is Starbucks unique in being able to provide a high level of benefits to its employees?

3. Do you think Starbucks has grown rapidly because of its ethical and socially responsible activities or because it provides products and an environment that customers want?

Requirements:

· Two Page Minimum;12-point Times New Roman; double spaced; and page numbering.

· Please be sure to answer the entire question to receive maximum credit for this assignment.

· Use and include information from the weekly course content and outside sources to support the conclusions contained in the paper.

SAMPLE SOLUTION

The Importance of Business Ethics
Why do you think Starbucks has been so concerned with social responsibility in its overall corporate strategy?
From the textbook, it can be established that there are two reasons why Starbucks is concerned with its corporate social responsibility, including the negative impact on the company as well as the financial and non-financial rewards that influence…

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