Topic > Starbucks: Ethics in a Cup - 1430

In the ever-evolving world of capitalism, a common thread of dog-eat-dog has emerged. To survive, a company must do everything it can to make a profit, regardless of social, environmental or economic responsibility. This worked for a while; profits were rising sharply in almost all economic sectors. Until the business world is rocked by scandals at the beginning of the 21st century. The lack of business ethics in American corporations has led to America's worst economic meltdown since the Great Depression. Today, legislators, stakeholders and consumers are calling for more ethical business practices and greater social responsibility. Companies that are open and aware of ethical practices are noticing an upward trend in profits, employee engagement, investor loyalty, and customer satisfaction (Ferrell, Fraedrich, & Ferrell, 2011). One company has taken ethics and social responsibility seriously since its inception and has grown to become the most recognizable coffee supplier in the world, Starbucks. Starbucks is one of only 23 companies to be included in Ethisphere's Most Ethical Companies list for 6 consecutive years (Ethisphere, 2012). Starbucks has been at the forefront of business ethics, with its innovative initiatives in; employee treatment, ethical sourcing and farmer support, community involvement, and environmentally friendly practices (Starbucks, 2012). Howard Schultz, CEO of Starbucks, was recently named Fortune's Entrepreneur of the Year for 2011, thanks to his proven marketing talent and ability to come back and save the company he helped build after an eight-year hiatus. Starbucks Posted Astronomical Numbers for 2011; $12 billion in revenues, 37% increase in shares and a major acquisition of the California-based super-PR...... halfway through the document...... 6, 2012, from http:// management.fortune. cnn.com/2011/11/17/starbucks-howard-schultz-business-person-year/Kleinrichert, D. (2008). Ethics, power and community: corporate social responsibility Revisi. Journal of Business Ethics, 78, 475-485. Retrieved March 13, 2012, from the EBSCO Host database.Kline, A. (2012). Starbucks' new fund creates jobs. American Banker, 177(27), 10-10. Retrieved March 13, 2012, from the ESBCO Host database. Reis, P. R. (2010). Starbucks and the Spotlight Effect: Corporate Social Responsibility and Reputational Risk. Annual Advances in Business Cases, 29, 204-213. Retrieved March 13, 2012, from Host EBSCO.Starbucks database. (n.d.). Starbucks Shared Planet Goals and Progress 2010 | Starbucks coffee company. Starbucks coffee company. Retrieved March 20, 2012, from http://www.starbucks.com/responsibility/learn-more/goals-and-progress