This essay attempts to critically evaluate Tesco with regards to the Horsemeat Scandal. The aim is to critically asses this event through the application of theories and readings. A brief background on how the scandal arose will be provided. Key question that must be asked are did Tesco misbehave at all? And if they did, how could they have been able to justify their actions to themselves?
According to Cooper and Owen (2007) accountability is a somewhat unclear term. This is not because the exact definition of being accountable ‘required or expected to justify actions or decisions; responsible’ (Oxforddictionaries.com, 2014) is hard to understand, it is because the question still remains as to whom is the accountable person is supposed to justify their actions to? Three parties can be identified as possible recipients of this justification: The shareholders, the stakeholders and society in general (Cooper and Owen, 2007). If the first party (the shareholders) is the one Tesco were accountable to then Tesco can be perceived to have done nothing wrong as their primary objective may have been to maximise the wealth of the shareholders . However if the shareholders were not the recipients of the accountability and the stakeholders and society in general are Tesco has come without a doubt committed a wrongdoing.
The focal point of this essay revolves around Tesco’s issues with Corporate Social Responsibility (Hench forth know as CSR) as they didn’t hold themselves to the stakeholders and society in general. These issues with CSR can be explained through applying agency theory and various ethical theories. Furthermore the actions taken by Tesco will be examined; both how they handled the scandal and the repercussions for...
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..., 32 (3), pp. 247—262
In-text: (Tesco Annual Report, 2013)
Bibliography: Tesco Annual Report. (2013). Tesco Annual Report 2013. [online] Retrieved from: http://files.the-group.net/library/tesco/annualreport2013/pdfs/tesco_annual_report_2013.pdf [Accessed: 1 Apr 2014].
In-text: (The Week UK, 2014)
Bibliography: The Week UK. (2014). Horsemeat scandal hits Tesco profits. [online] Retrieved from: http://www.theweek.co.uk/business/53417/horsemeat-scandal-hits-tesco-profits [Accessed: 1 Apr 2014].
In-text: (Turnbull, 1997)
Bibliography: Turnbull, S. (1997). Corporate governance: its scope, concerns and theories. Corporate Governance: An International Review, 5 (4), pp. 180--205.
In-text: (Wiese and Toporowski, 2013)
Bibliography: Wiese, A. and Toporowski, W. (2013). CSR failures in food supply chains--an agency perspective.British Food Journal, 115 (1), pp. 92--107.
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