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.
Need Writing Help?
Get feedback on grammar, clarity, concision and logic instantly.Check your paper »
- Response 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.... [tags: Social responsibility]
907 words (2.6 pages)
- Over the years Tesco has grown to become the UK’s largest supermarket chain with over 2000 stores operating around the world but at the same time it also became one of the most controversial and highly criticised company. Tesco is highly perceived as a company behaving unethically in public eyes. Business ethics wise Tesco’s is a gold mine and I have specifically chosen Tesco because it would be interesting to do research on a company that is so controversial and constantly under spotlight. Some of the allegations towards Tesco are; Corporate policy Corporate policy caused Tesco a big headache specially the cases towards labour relations, trading relations and pricing and advertising.... [tags: Corporate social responsibility]
1679 words (4.8 pages)
- Introduction 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 stil... [tags: food safety and corporate responsibility]
1398 words (4 pages)
- Introduction The main goal of this report is to evaluate the positive and the negative aspects of a corporate governance of two food-retailing companies, which operate in the UK. We are looking to see if in a large publicly owned company corporate governance mechanisms and corporate social responsibility practices are more evident in better performing companies. This report also includes the evaluation of the corporate governance structure of the two companies as well as any issues regarding the board of the organisation.... [tags: Corporate governance, Corporation, Stock market]
706 words (2 pages)
- Sustainable operation management is a management approach that involves planning, implementation and control of business processes that translate available resources into required product or service. It is the management of business practices, traditions and operations to promote highest level of efficiency, workflow, and increase productivity in an organization. This management strategy mainly ensures that available labor force and materials are changed into products or services in a cost effective way to increase the company’s returns (Corbett, 2009).... [tags: Sustainable Operation Management ]
1659 words (4.7 pages)
- Tesco’s aspiration for multinational status had proved successful. Just about any country they chose to do business in ultimately made them the world’s third largest retailer. Their niche, however, was in emerging economies and they had entered all the emerging economies of the world that they felt were of importance. Japan for many years had been an interest because it was known to be the second largest retail market in the world. When the two existing supermarket chains went up for sale, Tesco decided it was time for entry into the Japanese retail market.... [tags: Business Analysis ]
1719 words (4.9 pages)
- Question 1 Corporate Social Responsibility began its rise in popularity in the late 1960s as part of the Civil Rights movement, but it seems to be critical to companies now more than ever. Although everyone seems to agree that it is a hot topic surrounding businesses right now, what we cannot seem to agree on is if it is “right” for companies to stand firm on their corporate social responsibility policies or if businesses should just focus on turning profits. This response aims to give two opposing looks at social responsibility by providing three reasons to go with Company A, that could essentially care less about corporate social responsibility, and conversely, three reasons to go with Co... [tags: Corporate social responsibility]
1130 words (3.2 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.... [tags: Corporate social responsibility]
1000 words (2.9 pages)
- Enterprises lay high emphasis on corporate social responsibility instead of being profitable tools. It is essential for all the enterprises to focus on corporate social responsibility which can help the organization creates long-term sustainability for corporate success. More specifically, corporate social responsibility can be referred as a process which is aim to embrace responsibility for the organization’s actions. Moreover, it can have a benefit to the people who are regarded as stakeholders, like employees, consumers and communities, which is based on its activities.... [tags: Corporate social responsibility]
1485 words (4.2 pages)
- Introduction A globally sustainable organization has the ability to meet the needs of present without compromising the ability of future generations to meet their needs. Organizations are getting more and more concerned with sustainability and corporate social responsibility. A sustainable organization always give importance to the economic, social and environmental benefits when doing business. Instead of only looking for economic bottom line such as profits and shareholder returns, global firms need to pursue a balanced set of “triple bottom line”, which consists of economic, social, and environmental performance, and satisfy the demands of all stakeholder groups.... [tags: Sustainability, Corporate social responsibility]
1541 words (4.4 pages)
- The Ethiopian Agricultural Transformation Agency
- Graduation Speech : Vice Co Competition Director And Long Distance Running / Walking Assistant Of The Eastern Fall Sectional
- Nutrition Assignment : Healthy Eating
- Relationship Between Resilience And The Supply Chain Management
- The On The Entertainment Field
- Why Boys Don 't Play With Dolls