Ethical Issues Impacted The Stakeholders Needs In TESCO Company Assignment Sample Malaysia
The ethical issues of any organization greatly impact all stakeholders. Tesco Company, a British multinational retailer and grocery, can also bear witness to this fact. Many ethical questions have arisen concerning the needs of its potential as well as existing stakeholders.
Being a publically traded business, Tesco’s decisions often lead to immense effects on suppliers, customers, investors, and other concerned parties associated with it. It is pivotal for such organizations to make sure that all their decisions remain profitable and upright from an ethical standpoint in order to work in a sustainable manner.
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What is the Tesco Company and what do they do?
Tesco is one of the world’s leading companies regarding retailing, service, and product development. Founded in 1919 in London, UK, Tesco began as a small grocery store selling common goods from door to door. Over the years, Tesco has grown significantly and now offers products for customers across groceries and more. Customers can purchase fresh, frozen, and packaged foods as well as all kinds of non-food items such as home furnishings, toys, electronics, healthcare, and apparel from the company’s retail stores.
Tesco also provides various services to customers, ranging from financial services to internet shopping – making it easier than ever to shop online in comfort. Consequently, Tesco has developed into one of the most successful businesses globally with over 6 800 stores in 11 countries.
The ethical issues impacted the stakeholder’s needs.
The ethical issues of Tesco have had a great effect on the needs of its stakeholders. For instance, it has been revealed that Tesco did not always adhere to all safety regulations and worker’s rights were not adequately protected in some cases. This caused a lot of distress to suppliers and customers, who felt the company was taking advantage of them by neglecting their rights and not taking appropriate steps to ensure safety in the workplace.
Furthermore, Tesco has been criticized for its environmental policies, as they have been accused of not taking enough action to reduce air and water pollution caused by its business activities. This has caused a lot of concern among customers, investors, and suppliers alike who feel that the company should take more responsibility in this regard.
It has also been alleged that Tesco has not done enough to protect the rights of its employees or to ensure fair wages and working conditions, especially for those employed at their stores abroad. This could result in potential legal action against Tesco if these allegations are found to be true.
All of these ethical issues have greatly impacted the needs of all associated stakeholders and highlight the need for Tesco to take a more proactive stance on ethical issues in order to ensure its sustainability.
The impact that ethical issues can have on stakeholder needs is evident in Tesco’s case. It is therefore essential for organizations such as Tesco to ensure that all their decisions remain ethical and in line with the expectations of its stakeholders. This will help ensure the sustainability of any organization and will benefit all stakeholders in the long run.
Thus, it is essential for Tesco to take into account its ethical practices in order to ensure compliance with laws, regulations, and ethical standards set by international organizations and regulatory bodies. Additionally, Tesco must ensure that it has appropriate measures in place to protect the rights of all stakeholders and ensure their needs are taken into consideration when making decisions. Only by doing this can Tesco ensure its own sustainability and long-term success.
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How did the company respond to the ethical dilemmas?
In response to the ethical issues that have been raised, Tesco has made a concerted effort to address them in an effective and sustainable manner. This includes implementing policies and procedures which ensure compliance with laws, regulations, and ethical standards set by international organizations such as the UN Global Compact and ISO 26000. Furthermore, Tesco has taken steps to improve working conditions and ensure fair wages for its employees, as well as take measures to reduce air and water pollution.
The company also launched a number of initiatives aimed at engaging with its stakeholders in order to identify their needs and concerns. This includes the establishment of a corporate responsibility report which outlines all the actions taken by Tesco to address ethical issues. Additionally, Tesco has held dialogue sessions with stakeholders to discuss their concerns and gain a better understanding of how the organization can improve its practices.
Finally, Tesco has also taken steps to promote corporate responsibility by investing in social initiatives and collaborating with NGOs on various projects. These actions demonstrate that the company is taking significant steps to address ethical issues and ensure its long-term sustainability.
How can companies prevent these types of ethical dilemmas from happening in the future?
In order to prevent ethical dilemmas from occurring in the future, companies must implement effective strategies to ensure compliance with laws, regulations, and ethical standards. This should include developing a corporate code of ethics that outlines the values and expectations of an organization. Additionally, businesses should ensure they have strong internal controls and procedures in place to monitor compliance with these standards. Furthermore, companies should ensure that their staff is properly trained on ethical issues and understand the potential consequences of non-compliance.
In addition to this, businesses should strive to engage with stakeholders in order to identify their needs and concerns. This can be done through dialogue sessions or by creating a corporate responsibility report which outlines all the actions taken by the company to address ethical issues. Finally, businesses should invest in initiatives that promote corporate responsibility and sustainable practices – this will help them to develop a positive reputation within their sector and demonstrate their commitment to ethical business practices.
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