Business Ethics Assessment 2 - Tesco's Ethical Philosophy and Challenges Faced

Business Ethics
INTRODUCTION
The term business ethics refers to a direction that governs company’s values and
their beliefs along with business actions. This is generally concerned with the
aspects of human behaviour and aims in differentiating the things between right
and wrong. Business ethics includes a concern upon the business environment
along with the challenges or issues that can be raised in company during the
conduct of commercial activities. The present report focuses upon a discussion
over a company which is considered to be ethical along with its reasons to be
ethical (Brennan and et.al, 2021). The various ethical philosophies are also been
discussed in the report with context to Tesco and which philosophy the
organisation applies in its business. Further, it also includes the challenges or
hurdles which Tesco has faced in its past and through which key elements the
company was able to address such challenges in successful manner. Lastly, the
identification upon company’s Stakeholders along with their role in maintaining
business standards is mentioned.
TASK 1
Identifying a company which is ethical along with its reason
A company which is being identified is Tesco. Tesco is a UK based multinational
company that deals in retail supermarket business. The company is known as the third
biggest organisation in world. Tesco is having more than 4811 across the world which is
being operated by more than 472,000 staff members. The main motive of company Tesco
is to serve “Every little help” to its customers (Cherré, Laarraf and Peterson, 2019). Tesco
offers furniture, kitchen, electronics, home essentials, groceries to the customers across the
world. The company is being ethical because is functions its business operations in a way
that provides higher customer satisfaction along with paying high emphasis upon the
safety and right treatment to its employees. Following are the reasons due to which Tesco
is considered to be an ethical company:
Dedicated towards vision and mission: The Company Tesco is directed towards its
vision and mission for which it formulates strategies in a way that can justify their mission
and vision. The employees on the other hand are also directed towards the concern of
same and work accordingly.
Environment and Community: The Company Tesco is focused towards environment
through adopting less carbon emission products, use of disposal wastes, organizing
different social campaigns towards the awareness of different things, etc (Clark and et.al,
2020). Through these Tesco shows its concern towards as well as conducts those activities
which justifies its ethical behaviour and business operations.
Corporate social responsibility: It is a strategy or a practice that is undertaken by the
corporations intending to have a favourable influence on the world. The main opinion
behind corporate social responsibility is to pursue other objectives that are pro-social and
additionally maximising the level of profits. Within Tesco, the primary objective of Tesco
is to reduce the externalities of the environment. Another objectives of CSR within the
workplace is to foster volunteerism among the human resources of the company and
donations to charity.