csr

1954 Words4 Pages
bulb-icon

Recommended: Tesco as a private sector organisation

Chapter Three: Social Responsibility and Stakeholder Perspective; A Case of Tesco PLC Retail Chain The Concept of Social Responsibility and Tesco PLC Corporate social responsibility (CSR) invaded the corporate world over the last few decades. This concept has become an essential need for competitive advantage unlike its original role as a nicety. The companies have seen the business benefit of the initiative and stakeholders have appreciated the initiative. This has led to the wide application in the firm’s operational agenda. The famous scandals facing the corporate world that is Enron and WorldCom brought a lot of disruptions to their operations. This brought about strict government regulations, as a result. This also marked as the reminder for NGOs to begin criticizing MNCs. This brought about ranking that necessitated firms to submit their non-financial performance records alongside their financial performance ones. The media has also become a close checker on companies. This has brought the need for firms to embrace social responsibility in their operations to curb battling with restrictors. Firms have also established good relations with their suppliers both as a prerequisite for effective business and as a social responsibility. (Cetinkaya, 2010) This is not different with the retailing industry as this is one of the largest growing companies globally. Over the past years, this market was regarded to have less concern on environmental aspects but has since attracted significant changes. In terms of capacity, productivity and revenue, Tesco PLC boasts of being the third largest retailer globally. The firm is based in UK but operates in 14 states (Profile, 2014). The company also is known for its well established social respo... ... middle of paper ... ... and opinions on the supply chain system Other Groups Tesco has strived hard enough to incorporate other disadvantaged groups in the society in their social responsibility initiatives. This includes volunteering charity to Marie curie cancer center to the tune of 2.6 million (Tesco plc, 2009). They also conduct regular engagement and partnerships; this is aimed at value addition and incorporates competitors, NGOs and activists not forgetting academic bodies. This has enabled the firm to maintain a close relationship with its stakeholders improving social responsibility with the stakeholder’s perspective in mind. The benefits accrued to this can never be underestimated. One can conclusively say that social responsibility has been effectively implemented in Tesco PLC. This has been done with the stakeholders at the center of the initiative interest (Tesco plc, 2009).

Show More
Related

  • Whole Foods Market Corporate Social Respinsiblity(CSR)

    1726 Words  | 4 Pages

    CSR currently has no universal definition, but it is commonly agreed that the strategy engages the business brand with a specific societal issue that relates to the company’s field of work. For example a car company might apply their brand with uses of green energy with the automobile. Businesses have noticed the benefits CSR can generate for their company. However, this strategy is most effective when the company commits their entire brand around the particular cause. The Whole Foods Market (WFM) is the perfect example of how the use of the CSR works for a company. To understand how stores like the WFM influence society’s move towards sustainability and healthy living, it is important to look at the stores CSR strategy portrayed through their advertising, such as their website. In my paper I hope to further the conversation about the use of the corporate responsibility strategy for businesses to ...

    Read More

  • Restaurant Business Case Study

    2340 Words  | 5 Pages

    An increasing large number of firms are developing mission statements that also attempt to define the social and ethical boundaries of their strategic domain. Some firms are actively pursuing social programs they believe to be intertwined with their economic objectives, while others simply seek to manage their businesses according to the principles of sustainability – meeting humanity’s needs without harming future generations. For example, Unilever has launched a variety of programs to help developing nations wrestle with poverty, water scarcity, and the effects of climate change. The firm’s motives are at least as much economic as moral. As environmental regulations grow stricter around the world, the firm must invest in green technologies or its leadership

    Read More

  • CSR

    3141 Words  | 7 Pages

    Corporate social responsibility (CSR) involves going beyond the interests of the firm and requirements of law to contribute in developing a sustainable environment and a better society (McWilliams and Siegel, 2001). Yet Vogel (2005) claims that regulation is required to ensure that companies comply with a standard of CSR. Unethical practices create negative images of organisations, however through adopting CSR; profitability may be increased through the positive image that society creates (Pava and Kraus, 1997). While Friedman (1970) argues that corporations are responsible for obtaining shareholder’s funds in a profitable and legal way, therefore not engaging in corporate philanthropy. Friedman’s view is egoistic, whereby acting to promote the greatest impact for the company compared to adopting a utilitarian approach which focuses on achieving the greatest good for the majority (Beauchamp and Bowie, 2004). Organisational performance is evaluated on three factors; economic prosperity, social justice and environmental quality (Elkington, 1997), emphasising the significance of companies adopting an ethical stance in the modern business world. This assignment will address the role ethics and CSR play in organisations through applying case studies to examine whether companies adopt CSR for the enhanced reputation and competitive advantage or the social and environmental impact. The role of regulation within CSR will be investigated due to corporate scandals and environmental disasters which raise concerns over the ethical perspective of companies.

    Read More

  • Corporate Social Responsibility Is an Inescapable Priority for Companies

    2783 Words  | 6 Pages

    Over the last decade, Corporate Social Responsibility (CSR) has emerged as an inescapable priority for companies all over the world. Governments, activists, and the media have to a greater extend become adept at holding companies account for the social consequences of their business activities. As a result, companies are increasingly being ranked on their CSR performance.

    Read More

  • CSR report

    1571 Words  | 4 Pages

    In subsequent years, European researchers suggested companies should view social responsibility internationally. CSR has become a new alternative in the conception and doing business that encompasses economic, social, and environmental operations for achieving competitive advantage.

    Read More

  • Walmart Social Responsibility Case Study

    970 Words  | 2 Pages

    The corporate social responsibility is a commitment by a business to contribute to economic development while improving the quality of life for employees and their families’ as-well as contributing to the society. Walmart is a well-known company that offers customers the items they want and need at a low cost, with nearly 4,000 stores in the United States. According to the Fortune 500, Walmart was ranked number 1 in 2015. Just like any other superstore Walmart needs to continue the use of social responsibility by recreating a relationship between business and the community especially if they want to dominate the competition in 2016. The use of sustainability, strategic philanthropy, causing market, shared values, stakeholders and global perspective will help readers understand the purpose of social responsibilities in the corporate world.

    Read More

  • Corporate Social Responsibility Analysis: Wells Fargo

    958 Words  | 2 Pages

    An organization’s Corporate Social Responsibility (CSR) drives them to look out for the different interests of society. Most business corporations undertake responsibility for the impact of their organizational pursuits and various activities on their customers, employees, shareholders, communities and the environment. With the high volume of general competition between different companies and organizations in varied fields, CSR has become a morally imperative commitment, more than one enforced by the law. Most organizations in the modern world willingly try to improve the general well-being of not only their employees, but also their families and the society as a whole.

    Read More

  • Is Corporate Social Responsibility

    1000 Words  | 2 Pages

    responsibility has been defined as 'the responsibility of enterprises for their impacts on society'. Is Corporate Social Responsibility (CSR) just window dressing or is it a contradiction in terms? In this Very Short Introduction, Jeremy Moon shows that CSR holds much more value than it first appears, and shows how it has come of age in recent years. Illustrating the sorts of CSR investments companies make, the ways in which they practice CSR, and the challenges this brings, Moon considers how the principles migrated from their US roots to become a global business phenomenon. Corporate social responsibility has been defined as 'the responsibility of enterprises for their impacts on society'. Is Corporate Social Responsibility (CSR) just window

    Read More

  • CSR Will Be a Game Changer In Future Business

    641 Words  | 2 Pages

    “Corporate Social Responsibility (CSR) is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large” (Holme and Watts (2000) p.8). For many years business have cared solely on money however in recent years businesses have started to take interest in CSR and helping society welfare. This paper will discuss if Corporate Social Responsibility is likely to become a game changer in the near future.

    Read More

  • Duke Energy Case Study

    569 Words  | 2 Pages

    Corporate social responsibility is globally defined as operating a business in a way that meets or exceeds the ethical, legal, commercial and public expectations that society has of business. The concern of CSR has drastically increased over the last two decades. It has enhanced interactions between governments, businesses, society and internationally. In the past, businesses primarily focus themselves with the economic results of their decisions. Now, businesses must also reflect on the legal, ethical, moral and social consequences of their decisions. Corporate Social Responsibility is no longer defined by how much money a company contributes to charity, but by its overall involvement in activities that improve the quality of people’s lives.

    Read More

  • Social Issues In Organizational Behaviour

    2692 Words  | 6 Pages

    Contemporary organizations operate under a variety of financial, legal, social, technological, environmental and ethical pressures and search for different ways of executing their activities successfully (Petinger, 2010; McShane, & Von Glinow, 2008; Burnes, 2004). Though it is still questioned whether organizations have social responsibilities beyond their financial goals, there are today increasing internal and external demands on business organizations to achieve broader social responsibility ( Freeman, Pica, & Camponovo, 2001).

    Read More

  • Corporate Social Responsibility and Business Success

    1099 Words  | 3 Pages

    There has been a seismic shift in how companies market themselves and their respective goods and services. The primary reason for the shift seems to be a changing consumer base; one that incorporates social, environmental and ethical issues into their buying decisions. Pressure from these more socially conscious consumers has driven companies to adopt more robust corporate social responsibility (CSR) strategies in order not only maintain customers but garner new ones as well. It now seems that in all most every advertisement there is some mention of the company’s CSR endeavors. Over the last few decades major corporations have shifted their focus from one of a mostly profit driven focus to one in which CSR has become integrated into their business culture. While an increased emphasis on CSR will most definitely enhance a company’s image in a positive way, whether it will equate to actual success in terms of either market share and or profits is speculative. The CSR efforts of each company will determine how the public perceives those efforts and if the efforts are merely attempts to generate more revenue or sincere efforts to make a difference.

    Read More

  • The Challenges Of The Importance Of Corporate Social Responsibility

    1172 Words  | 3 Pages

    Now in 2015, the importance of Corporate Social Responsibility (CSR) has grown. Organizations have been able to see what an impact CSR has on the overall function and longevity of one’s organization. A concept that has not always had extreme detail, now is a significant part of the day to day social consideration in any successful business; this is also a term that has a multitude of definitions, though the premise behind the concept is relatively the same. CSR is a result of World War 2, there became a strong need for more social consciousness, this lead to a global stance. The concepts originated from the ideas of what policies, decisions, and actions are desirable within society (Carroll, 2015). In addition, social risk is a concern and

    Read More

  • Importance Of Corporate Social Responsibility

    1000 Words  | 2 Pages

    In the current time of growth and progression, individuals should know that how a business not only flourish but sustain itself. Making profit is one of the main targets of every corporates but it must not be the only one. When an individual builds a company in order to do business, they should be well aware of their contribution towards the society as well as their business and employees in it. It is total strategy of all. We should be able to realize every increment contributes of it. One of the major factors that affect a business is how well it participates in Corporate Social Responsibility. According to (Werther & Chandler, 2006) corporate social responsibility (CSR) refers to a business practice that involves participating in initiatives that benefits the society. In authenticity, there is a whole lot to argue about it. There are no major guidelines that decides either a business is participating in Corporate Social Responsibility; what might be considered a Business practicing CSR to some, can still not be accepted for it by others. CSR may be restrained a term which his highly flexible. This paper will discuss about Corporate Social Responsibility and its

    Read More

  • Essay On Corporate Social Responsibility

    1275 Words  | 3 Pages

    Corporate Social Responsibility is an organisation’s obligation to serve the company’s own interest and the one’s of the society. Moreover, Corporate Social Responsibility has a definition of a concept where the companies integrate social and the environmental concerns into their own business operation and also on a basis of voluntary with their interactions they have with the stakeholders. Corporate Social Resp...

    Read More

More about csr

Open Document