Business Ethics | Task Report

BUSINESS ETHICS

Table of Contents
INTORDUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
TASK 2............................................................................................................................................3
1. Describing the changes in Tesco with implementation of CSR..............................................3
2. Reviewing the impact of CSR on the supply chain.................................................................4
3. Analysis of the impact on business performance due to change in CSR practices.................4
TASK 3............................................................................................................................................5
1. Researching a current ethical issue in an organisation........................................................5
2. Describing the effect on business objectives...........................................................................6
3. Suggesting improvements in ethics of the operation for business organisation......................6
4. Recommending changes to corporate social responsibility for benefiting various
stakeholders.................................................................................................................................7
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTORDUCTION
Ethics is derived from the Greek word Ethos means moral and belief of a person. Ethics
in business is of utter importance and it defines the policies and practice, corporate governance,
CSR (corporate social responsibilities) of an organisation in a correct manner. Ethical behaviour
of a business does not allow bribery, insider trading and incorrect behaviours and practice within
organisation. The present report is all about business ethics and CSR. The report includes
various approaches of business ethics, ethical issues, and creation of mind map over implication
of ethical operation and regulatory framework of CSR. Furthermore, it includes CSR study of
Tesco and impact of working of Tesco (Constantinescu and Kaptein, 2019). Also, current ethical
issue within an organisation is identified with describing impact of objectives and improvement
made and making recommendations.
TASK 1
ENCLOSED IN PPT-
TASK 2
Tesco is a retail supermarket chain which has adopted corporate social responsibility in
its business practice and has experienced major positive changes. The effects of adopting CSR
are explained below:-
1. Describing the changes in Tesco with implementation of CSR
CSR at Tesco is a crucial part of its corporate structure. It has undertaken several external
and internal activities for effective implementation of CWSR within organisation (Aßländer,
Gösslin and Seele, 2016). This includes development of environmental consciousness,
considering community issues and local regeneration projects. With effective CSR Tesco has
experienced several positive changes which are:
Earning trust of consumers: with adoption of CSR in form of taking initiative to protect
environment and taking measures to save water and energy and relying Tesco have earned the
trust of it consumers (Kim, Kim and Qian, 2018). As customers these days are more aware about
environment and ethical practise, with adoption of CRS Tesco have gained trust of its consumer
as it is heading in right direction.
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Stronger brand image: with great ethical practices and no unethical practice at
workplace Tesco have become one of the loyal and trustworthy organisations. It abide with the
duties towards society and environment and sustainability the brand image have strong among all
stakeholder and it leads to have good prices at stock exchange.
Better financial performance: with effective CSR the brand image gets good and
consumer become loyal along with attracting new consumers (Chakrabarty and Bass, 2015).
Tesco has gained a good credit rating so it borrows funds from market. Overall financial
performance gets better with lower debt, high equity and increased sales.
Saving of operational cost: Tesco has indulged in environmental practise, has reduced
one time pasting use and environmental friendly packing material are used resulting in reduction
of the operational cost (Ahmad and Umrani, 2019). Suppliers also sale raw material with low
margin to support such CSR practises.
2. Reviewing the impact of CSR on the supply chain
The supply chain of Tesco includes manufactures, suppliers, store and consumer; impact
on them is explained below:
Suppliers: have started supplying material with lower cost to support the act and they also use
environmental friendly products.
Manufacturer makes efficient use of water and energy. It recycles the wastage and water which
can be used in further activities.
Store has stopped entertaining any unethical practice and strict ethical polices are bring followed
(Thornton and Rupp, 2016). Each employee is treated equally and every issue is handled with
same clarity and significance. CSR have made business more ethical.
Consumers:
3. Analysis of the impact on business performance due to change in CSR practices
Profitability: as CER practice Tesco believes in retaining loyal people and meeting
stakeholders need (Rupp et.al., 2015). With pleasing the consumers and having top notch
competitive prices increases the profitability of business along with pleasing shareholders as
well.
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