Applied Ethics and Social Responsibility Essay Example for Free

Applied Ethics and Social Responsibility Essay 1) Why do you think Starbucks has been so concerned with social responsibility in its overall corporate strategy? â€Å"I think that Starbucks has been concerned with social responsibility in its overall corporate strategy because in the long run it affects the bottom line. By being socially responsible, the business is also showing that they care about more than their profits. Caring about more than just profits allows for greater employee commitment, investor loyalty, as well as higher customer satisfaction. Research has also shown that social responsibility and good business ethics contributes to higher profits. (Ferrell, Fraedrich, Ferrell, 2013)† 2) Is Starbucks unique in being able to provide a high level of benefits to its employees? â€Å"No, Starbucks is not unique in being able to provide a high level of benefits to its employees. Business ethics has become more important in the business world and it has been found that if a company is dedicated to taking care of its employees, the more dedicated the employees will be. If an employee sees that the company is acting and treats them in an ethical manner, the employee is more likely to act in an ethical manner. (Ferrell, Fraedrich, Ferrell, 2013)† 3) Do you think that Starbucks has grown rapidly because of its ethical and socially responsible activities or because it provides products and an environment that customers want? â€Å"I think that Starbucks has grown rapidly because it has combined a product and environment that people want with great business ethics and social responsibility. This combination has allowed the company to expand exponentially during a good economy and maintain in a bad economy. By being socially responsible and treating their employee’s right, the company has less of a turnover rate and in the long run has been able to avoid large layoffs and shutting down a large amount of stores. (Ferrell, Fraedrich, Ferrell, 2013)† 4) In what other ways does this case relate to the concepts that we have learned in the chapters so far? â€Å"This first chapter has shown that ethics is a big part of business. It can basically make or break a company. In the case of Starbucks, it has made them. They have based their business around social responsibility and ethics and have been able to maintain in an economy that has tanked because they treat their employees and customers right. According to our textbook, being ethical pays off with better employee performance, and higher employee honesty and integrity. (Ferrell, Fraedrich, Ferrell, 2013)† Bibliography Ferrell, O. C., Fraedrich, J., Ferrell, L. (2013). The Importance of Business Ethics. In O. C. Ferrell, J. Fraedrich, L. Ferrell, Business Ethics: Ethical Decision Making and Cases (pp. 17-22). Mason: South-Westen.