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Studying for business

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Introduction

Contents Stakeholders of Tesco 1 Internal stakeholder 1 External stakeholders 1 Connected stakeholders 1-2 Consideration power 2 Tesco mission statement 2 Actions of Tesco towards the society 3 Tesco ethical behaviour improvement 3 Deontology approach 3 Utilitarianism approach 4 Teleology approach 4 Egoism approach 4 Introduction 4-5 Conclusion 5 Bibliographic 5 Internet reference 5 Introduction I carried out a research on UK supermarkets' social responsibilities and business ethics and then I decided to use Tesco for my assignment. I decided to use Tesco because; Tesco have a wide range of policies regarding their suppliers, customers, shareholders and the community. "At Tesco, we aim to make a positive contribution to society. Our CSR programme builds on this commitment and is backed by our 'Every Little Helps' approach." John Gardiner, chairman of Tesco plc. Tesco uses a combination approach of deontology, utilitarianism, teleology and egoism (Boddy 2002) to the ethical of the society. An ethical assessment will consider the position of the staff, the nature and interrelationship of activities, product and service ranges, mixes and balances, relationships with the community and environment. Stakeholders of Tesco Stakeholder is defined by Mullins as "individuals or groups who have an interest in and/or are affected by the goals, operations or activities of the organisation or the behaviour of its members". ...read more.

Middle

Tesco's mission statement "Creating value for customers, to earn their lifetime loyalty". We can see by the statement that Tesco concentrates more on the long-term relationships with its customers. Tesco focused on providing exceptional value and choice for customers to ensure that they continue to grow their market share. Tesco had expanded significantly over the past 10 years, it started in non-food retailing in 1997 and now Tesco is creating value on a wide range of products from grocery to financial services such as personal loan, insurance, credit card, loans, savings, travel, broadband and dial up internet access. From these we can see that Tesco is working very hard to follow its mission statement to achieve its goal. Actions of Tesco towards the society Tesco combine the agency theory and the stakeholder theory (by Mullins 2002) when making any ethical decisions. The social responsibility of the business is to make as much money as possible for the shareholders within the rules of the game. The stakeholder theory defined a business for its stakeholders and its actions should be designed to balance stakeholders' interest. Tesco uses the agency theory to decide its main objectives in order to provide excellent goods and services and to earn their customers loyalty. ...read more.

Conclusion

Tesco is a financial contributor to the fund for the replacement of animals in medical experimentation and they are seeking ways to end animal testing. Tesco also gives out computers for school vouchers, which support local school to improve their computer equipment and to create a better learning environment for children. Tesco is a national sponsor of cancer research UK race for life. There is also Tesco charity trust, which helps local and national charities as well as voluntary organisations to provide practical support for children, the elderly and people with disabilities. Tesco uses this approach to take above actions to contribute towards the local community. Customers are happier to shop at Tesco because of the computers for school vouchers and charity activities and are able to maximise their personal self-interest towards the society. Conclusion The main ethical duty of the organisation is survival, long term performance, staffs, customers, community and other stakeholders. It is necessary for the organisation to recognise the nature and legitimacy of the interests of the different stakeholder groups and interested parties and to take steps to see that these are widely understood and satisfied as far as possible. Bibliographic Boddy D, (2002), 2nd Edition, Management - An Introduction, Pearson Education Ltd, Harlow Mullins L, (2002), 6th Edition, Management & Organisational Behaviour, Pearson Education Ltd, Harlow Internet reference www.tesco.com 1 ...read more.

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