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Sustainability Pillars: People, Planet, and Profit for Tesco

   

Added on  2019-12-03

8 Pages2323 Words199 Views
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CORPORATERESPONSIBILITY
Sustainability Pillars: People, Planet, and Profit for Tesco_1

EXECUTIVE SUMMARYFor carrying out the present research based on corporate responsibility it can be analyzedthat business is required to regulate and control the firm based on different ethical grounds.Further, it can be evaluated that the main purpose of establishing CSR is to take theresponsibility for all the business activities and to develop a positive impact on the environmentand all the stakeholders. Also, corporate governance is a very crucial element of CSR. With thehelp of such type of process business activities of the company can be controlled and directed. Inorder to analyze the corporate governance subject matter Tesco has been adopted so that it helpsscholars to understand the ethical issues faced by the firm. Furthermore, different issues havebeen identified so that board committee members can assess different ways to overcome it sothat results can be attained. The main reason to choose Tesco organization is that different ethicalgrounds can be analyzed and business can carry out its main responsibility in the form of fairtrade practices etc. 1
Sustainability Pillars: People, Planet, and Profit for Tesco_2

Corporate Responsibility, also regarded as responsible business is a kind of corporate selfregulation which is engraved into a business model. In other words, it is a self regulatorymechanism wherein a business confirms its active compliance with the spirit of law and ethicalstandards (Fernando, 2009). The purpose of establishing CSR is to take the responsibility for allthe business activities and to develop a positive impact on the environment and all thestakeholders. Corporate governance is a very crucial element of CSR. It is a process throughwhich business activities of the company are controlled and directed (Tricker and Tricker, 2012).The purpose of this report is to conduct an ethical analysis of a critical business situation,decision or activity for organization named Tesco. It will examine the current approach of thecompany to its Corporate Governance. The report will find out whether good business practicesare being followed by the company using the UK’s existing CG guide. Herein different ethicalissues have been analyzed in order to overcome it by carrying out ethical audit so that fairtrading can be executed. Corporate Governance Framework of TescoThe above figure shows the corporate governance structure of the Tesco. The ExecutiveCommittee is organized around three core capabilities which include customers, channels andproducts. The Board is of the belief that methods of doing business are very important for them.The work is supported by five key committees which are the Audit, Corporate Responsibility,2
Sustainability Pillars: People, Planet, and Profit for Tesco_3

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