Essay about Tesco 's Corporate Responsibility Strategy

Essay about Tesco 's Corporate Responsibility Strategy

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This report shows how Tesco has started their journey to use their scale for goods. They’ve outline the approach that they are taking to tackle their big ambitions and strengthen their work to address their essential commitments. Not only that there are more other journals which
According to Khondkar et al. (2015)Tesco ranks #1 in the Forbes list of the world 's 2012 largest food retailers. It is the 6th largest public company in the UK and the 105th largest in the world. Based on sales, Tesco 's world ranking is #59. Tesco uses a seven part responsibility strategy to set goals to ensure the company delivers long-term sustainable growth. Part five of the seven part strategy is "To put our responsibilities to the communities we serve at the heart of what we do." Tesco 's corporate responsibility strategy is reflected in five pillars called community promises: (1) buying and selling products responsibly, (2) caring for the environment, (3) actively supporting local communities, (4) providing customers with healthy choices, and (5) creating good jobs and careers. To achieve its responsibility goals, Tesco manages its business using a balanced scorecard consisting of five segments: community, operations, people, finance, and customer. Specifically within the community segment, Tesco 's management approach consists of four elements: (1) review all stakeholder research conducted during the year, (2) develops community plans, (3) set targets for key performance indicators, and (4) report - monitor progress against targets.Tesco 's endeavors to be responsible to the community are reflected in the following examples: providing nutritional labels on food; offering more healthy food brands; sponsoring athletic training and exerci...

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...[18] EC, 2010). [61] Spence and Bourlakis (2009) argued that the UK Government discourse on CSR focused on voluntary practices rather than government intervention namely that corporate responsibility (CR) is the voluntary actions that an organisation can take, over and above compliance with minimum legal requirements, to address both its own competitive interests and the interests of the wider society(Ibrahim, 2011).

Finally, according to my finding I believe that Tesco has put more effort in Corporate Social Responsibility. Hence there is still more room to develop. For an example, becoming a zero-carbon company business will be a major achievement, but their time frame (2050) will take another 3 decades. So, as a world wide organisation they must pay more attention to take a lead and become an example to other organisations by becoming a more sustainable company.

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