Essay on Tesco 's Corporate Social Responsibility

Essay on Tesco 's Corporate Social Responsibility

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Corporate Social responsibility is the care and concern shown by the businesses towards society and carrying out activities by which the society can be benefited.
The market share of Tesco is declining at UK due to increase in competition of retail business. The customers are attracted towards others due to many factors like price, convenience, quality of goods and services. In order to regain the customers and to influence new customers, Tesco is adopting the CSR initiative. The benefits which Tesco is likely to achieve over its rivals due to this are: 1. Increase in business reputation 2. Attract the best employees, as many skilled and high posts employees prefer to work and want to be associated with socially responsible firms. 3. The other stakeholders like suppliers, employees feel proud to be associated with the business. 4. Increases the goodwill of the business. 5. Business can generate higher profits in the long run.
Activities carried out by Tesco for the CSR objective:
 Every little help makes a big difference: Tesco has developed certain values and on following these values it serves its customers, colleagues and community and a wider society a little better everyday. This initiative helps Tesco to restore the trust and transparency in their business.
 Reducing food wastage: Customers of Tesco show a concern over wastage of the food. Food wastage increases the cost to the business, hence to reduce it is the first priority. Many people in developing countries suffer from poverty and hunger. Wastage of food puts pressure on the land and other limited natural resources further depleting them.

Tesco’s efforts to reduce food wastage:
 To sell out the stocks which are very close to the expiry date.
 Unsold food is...

... middle of paper ...

...tion of the strategies. The firm has steel set higher goals for the betterment of the society.
Most of the people across the world are now getting sensitive to the social issues and want to help the society ether by themselves or by associating with the firms, NGO, government involved in social welfare. This gives Tesco a clear advantage. As the firm is genuinely concerned about the society and following ethics in the business, many of the stakeholders including the customers are likely to be loyal to Tesco. The governments would offer subsidies or tax discounts. However, the firm needs to take care of its investors at the same time. What if investors of Tesco are dissatisfied with the CSR initiative of Tesco in future?
However the CSR is shown by the competitors of Tesco as well. Hence the success of a firm depends on many other factors, CSR is just one of them.

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