An Assessment of Corporate Governance Issues at Tesco

This report provides a comprehensive analysis of corporate governance issues at Tesco, a major retail company. The study begins with an introduction to corporate governance and its importance in the retail sector, followed by an overview of Tesco's background and its position in the market. The report identifies and examines key issues faced by Tesco, including competition, share price concerns, and sales in big stores. It then delves into specific case studies, such as the Aldi trademark dispute, Tesco's store expansion strategies, and the impact of legal cases on the company's reputation. The report also explores the application of corporate governance theories, including agency, steward, and stakeholder theories, to understand the complexities of Tesco's decision-making processes. Finally, the report concludes with an assessment of the impact of these issues on Tesco's performance and offers insights into potential strategies for improvement. The analysis covers various aspects of Tesco's operations, including financial performance, customer loyalty, and brand image.

ASSESSMENT

Table of Contents
INTRODUCTION...........................................................................................................................1
RATIONAL OF THE COMPANY.................................................................................................1
ISSUE OF THE CASE....................................................................................................................1
DIFFERENT CASE OF TESCO.....................................................................................................3
Tesco settles Aldi trademarks case.........................................................................................3
Enhancement in expectations from the three thousand stores................................................4
Tesco just bought its way out of a legal case. Clearly the economic elite play by a different set
of rules than the rest of us.......................................................................................................4
Tesco's profits crash: the global picture.................................................................................5
Improvement in advertising performance to make high profits.............................................5
THEORY OF CORPORATE GOVERNANCE..............................................................................5
ETHICS THEORIES AND CORPORATE GOVERNANCE........................................................9
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................14

Illustration Index
Illustration 1: Agency theory...........................................................................................................6
Illustration 2: Steward theory...........................................................................................................7
Illustration 3: Stakeholder theory.....................................................................................................8

INTRODUCTION
The present study is based on the case analysis which determines assessment of issues
that are faced by retail sector business. Corporate governance is the process which has aim to
allocate resources to maximise value for customers and other people as well (Goranova, Abouk
and Soofi, 2017). In the selected business unit Tesco, it holds to evaluate decisions with
transparency to assess problems and issues. Purpose of the present study is to identify impact of
issues on the performances of organisation. In this aspect, corporate governance issues could be
addressed in Tesco unit.
There are various important issues in corporate governance which play a vital role while
encountering problems. In this aspect, issues can be reveals which exists in corporate governance
and perceives with different priorities. In the present study, business unit theory and issues
addressed to develop effective results.
RATIONAL OF THE COMPANY
Tesco is British and multinational grocery retailer which exist in London, UK. It is the
third largest retailer in the world in terms of earning profits and ninth largest retailer in terms of
revenue. It has stores in over 12 nations and it is also grocery market leader in UK. Jack Cohen
who was the son of a Jewish Migrants from Poland founded Tesco in 1919. The company is
continuously expanding its operations and functions with variety of products and services. From
1950, the chosen enterprise growing their operations organically through acquisitions in more
than 800 stores (Audretsch and Lehmann, 2014). Further, the business also introduced loyalty
cards and internet shopping as well, which increased sales of the firm significantly. In July 2001,
Tesco involved internet grocery retailing which obtain 35% stake in the grocery market. In
addition to this, firm also made convenience stores market through purchase of T & S stores
(Ayuso, Rodríguez and Ariño, 2014).
ISSUE OF THE CASE
Tesco comes in term of supermarket giant that shows positive profit report in first time of
three years. Further, the company also forced apologise for the disgraceful that shows domestic
work which being slapped. There are three biggest challenges exists which face in 2016 by Tesco
such as competition, doubts over the share price and sales within the big stores (Tihanyi, Graffin
and George, 2014).
1

Competition
Tesco is the biggest Britain supermarket. This is because, it possess the best
performances in all over the supermarket. However, from the records, it has been found that the
chosen enterprise is the second worst performances over the 12 weeks in 2016. Therefore, its
sales dropped down around 2.7% from the year. It led to 0.8% dip which has low share around
28.3%. Morrison has high share and profits from Tesco that is 2.6% from all over the market
(Burke and Mattis, 2013). Further, Sainsbury is another biggest competitor of Tesco that has
rising sales continuously in last year.
Doubts over share price
In the last year 2015, Tesco’s shares dropped on the 153p, which is the lowest value in all
over stock market. Due to its strong performances on Christmas, share value of Tesco increased
continuously. Further, the latest updates of the business also strong over the period which
significant rise international sales in business unit for more profits and revenue (Tesco
turnaround: The three BIG problems Britain's biggest supermarket will face in 2016, 2016). UK
performances were much stronger which increase profits and revenue. It was good to sell more
clothing to expand better in profitable manner. However, due to changes in Aldi and Lidl, profit
margins permanently reduced in the supermarket sector. Price reflect the share prices of the
product and services.
Sales in big stores
Sales of Tesco is continuously increasing which also enhanced competition from smaller
stores and online shopping as well. It is the key challenge which was faced by the organisation in
2016. Idea of opening big stores around the market gradually enhance market share so that it also
improved quality, range, services and price which have been seen to get everything that needed
for one most convenient form of shopping (Bushee, Carter and Gerakos, 2013).
Impact of the issues on the Tesco enterprise Less profits and revenue: Due to high competition within the market, performances of
Tesco has impacted over the years. This is because, in UK there are various organisations
exists who sell same products and services as Tesco. Therefore, profits and revenue of the
company are declining which could be affected negatively in the business operations
(Iatridis, 2013). Less profit and revenue also create problem to make further expansion in
different areas of market.
2

 Conflicts among different businesses: In order to pursue same operations and functions,
there several organisations has conflict with Tesco. Therefore, it creates negative impact
on the performances of the enterprise which reduce successful results as well. In addition
to this, it reduces positive relationship among various organisations (Devinney,
Schwalbach and Williams, 2013). It could reduce brand image of the business that
hamper profitable results in business unit. It can also harm to perform successful results
that required for developing market areas in different sectors.
 Decreasing loyalty of customers: Customer loyalty also decreasing due to high price of
products and services. It can be effect to business results that gradually decrease due to
inconvenience to people (Darrat, Gray and Wu, 2016). Therefore, it reduces opportunity
to expand business in further areas of market. In order to focuses of customer loyalty,
Tesco can also increase their power to create more profits and revenue in business unit.
Thus, it gradually makes profitable results and functions for further expansion.
DIFFERENT CASE OF TESCO
Tesco settles Aldi trademarks case
Retail Giant Aldi getting more than 1,50,000 pound that damages legal costs under the
settlement of Tesco. Therefore, they took action against Tesco for allied infringement of
trademarks in different stores. In Ireland Tesco also undertaking Aldi without taking trademarks
to defined different range of circumstances. It also undertakes use of the display in comparison
of product price without clearly specifying and ascertain applicability as well. Quality assurance
and other scheme recognised in different state (Carolan, 2012).
Other undertaking requires to Tesco Ireland due to not use properly setting of product
price so that it create impact on quality and ingredient as well. In order to meet with quality and
effective results, the chosen business need to concentrate on products advantages which possess
significant results. It also required to take appropriate source of products that need to be taken to
make effective results in business unit (Klettner, Clarke and Boersma, 2014). Aldi said that
Tesco using its trademarks to accomplish effective goods. However, Tesco argued that they
honestly practices and not detrimental to trademarks of Aldi. It is misleading and comparative
advertising to the chosen business.
3

From the above base, it can be stated that Aldi said that Tesco is very pleased to
undertake court. Therefore, it is favour of comparative advertising which need to be accurate and
fair towards consumers (Eling and Marek, 2014).
Enhancement in expectations from the three thousand stores
Tesco is the leading supermarket chain which has more than three thousand stores and
branches in all over the market. All stores kept at different locations of UK which create positive
impact on the business performances. There are more than 12 nations and continents in which the
company mainly deals such as Asia, Europe and North America, etc. (Lim, How and Verhoeven,
2014). It is the third largest business who measure profits and revenue in all over the world.
Stores has aim to provide modern retail environment to that areas from where customer can
easily access. Stores determines efficiency to follow successful results. On the trail basis, Tesco
demonstrate following elements:
 Substantial time saving with ascertain developing equipments.
 Ability also determines to count vouchers, coupons, cheques and foreign coins.
From the above discussion, it has been analysis that complete confidence in Tesco
develops for enhance customer base and earn more profits (Alam Choudhury and Nurul Alam,
2013).
Surpassing client specifications
Tesco demonstrate their cash master to design a bespoke cash counting which actually
exceed reconciliation specification. Machine also boasted ability so that it makes effective
results. Effective features in the Tesco assists to enhance various outcomes in significant manner.
Tesco just bought its way out of a legal case. Clearly the economic elite play by a different set of
rules than the rest of us
In supermarket, exchange involve for paying prosecution in order to remove false
accounting that was occurred in 2014. It was less than 0.3% of operating expenses incurred by
Tesco. The company agreed to pay more prosecution which settle extensive overseas bribery by
the employees. In order to offers DPAs, the chosen enterprise need to save public money within
the administration of justice. With the help of avoid public expenses, complex and trial can be
made to assess risk within the big enterprises. There is high risk to access expensive legal advice
to perhaps technical results (Ayuso, Rodríguez and Ariño, 2014).
4

DPA's fines are supposed to acting as the deterrent in future when company pursue
wrong things. Shareholders also pursue effective police management more carefully. Operating
expenses making annual profits that are more than the expenses. It is very important to
implement laws and regulations of systems to make justice in proper manner. In the wider social
and political aspects, law magistrate’s courts and prosecutor also agrees to understand system for
justice properly for several employees (Klettner, Clarke and Boersma, 2014).
Tesco's profits crash: the global picture
Tesco suffered due to decline of sales in every nation where it operates its business. In
China, the latest series of Tesco admitted to force and spend large amount of cash to build
effective infrastructure that needed for large country. The chosen enterprise paying more to make
effective results in term of partnership with state backed China resources (Lim, How and
Verhoeven, 2014). In recent trends, the selected business unit focuses on expansion of operations
and functions in online terms which put to the brakes on the new stores. With the help of
franchise outlet, outlet open in last year. With reducing size of the largest store retailer grows
operations with sports direct.
In Hungry market of Europe, Tesco see profits and revenue enhancement to develop
spending. In international market, the selected enterprise is known as the leader to make halted
and small stores for developing results (Alam Choudhury and Nurul Alam, 2013).
Improvement in advertising performance to make high profits
Tesco claims for new advertising strategy to produce effective and assess measurable
results through taking customer feedback. Therefore, the organisation can make improvement in
business unit in order to concentrate on advertising which enhance profitability and annual
profits as well. With the improvement in perception and brand performances of the selected
business unit, high profits can be made through ascertain more relevant products and services.
With improvement in target group, annual profits seek to in the 20 years. Thus, Supermarket
reported taking action for solving affected food in the industry (Alam Choudhury and Nurul
Alam, 2013).
After biting the costs, supermarket reported statutory profits has been led down in the
UK. Thus, Tesco confirmed that it will pull to US with closure and fresh outcomes in strategic
review.
5

THEORY OF CORPORATE GOVERNANCE
Agency theory
Agency theory consist as root of economic that was framed by Alchian and Demsetz.
Later, it was also developed by Jensen and Meckling which developed relationship between
principals such as shareholders, agents, executives, directors, etc. In this theory, shareholders of
Tesco owners and principals of the enterprise. It delegates running of the operations and
functions with the help of direction of manager and shareholders. Further, there are two factors
determinant to standing of agency theory (Klettner, Clarke and Boersma, 2014). It includes
conceptually and simple theory that diminish corporation to two people such as managers and
shareholders. Secondly, agency theory also suggests self-interested of employee and managers.
Agency theory shareholders expect agent to act and making decisions with principles
interest. On the other hand, agent may not necessarily make decisions in term of the best interest
of the principals. Problem also highlighted which subsequent explores detailed description of
agency theory. In this theory, agent may be succumbed to self-interest, opportunistic behaviour
and falling short of congruence. Agency model can also be applied on the goal of management
with owners (Bushee, Carter and Gerakos, 2013).
Stewardship theory
6
Illustration 1: Agency theory
Source: (Valentine and Abdullah, 2017)

Stewardship theory has its effective roots from psychology and sociology which defined
as the steward protects and maximises shareholders wealth. In this aspect, performances of the
firm maximise the utility functions (Alam Choudhury and Nurul Alam, 2013). Therefore,
stewards are company executives and managers working for shareholders that protects and make
high profits. This theory suggests stewards that assists to satisfied and motivate organisation
success. Agency theory look towards economic being and also suppresses for individual own
aspirations. On the other hand, stewardship theory recognises importance of structure which
empower and offers maximum autonomy that build trust (Ayuso, Rodríguez and Ariño, 2014). In
Tesco, this theory suggests role of CEO and chairman which reduce agency costs and greater
role in the business unit.
Stakeholder theory
Stakeholder theory also embedded in the management discipline which gradually
developed and incorporates accountability in broad range of stakeholder. Stakeholder theory has
been derived from combination of the sociology and organisational discipline. It also developed
broad research tradition in Tesco that incorporating philosophy, ethics, political theory and
economics. Within the selected enterprise, this theory developed with creation of network of
7
Illustration 2: Steward theory
Source: (Valentine and Abdullah, 2017)

relationship with many group of people that can be affect to decision-making (Goranova, Abouk
and Soofi, 2017).
Transaction cost theory
Transaction theory described as interdisciplinary connection of law, business and
economic. This theory attempts to view and also comprises of the people of Tesco with different
views and objectives. Underlying assumptions of this theory demonstrate effect of substitutes in
market for allocating resources. Further, it also carries structure of the organisation that develop
price and production. Unit of analysis in transaction cost theory determines combination of
people in which managers have opportunity to arrange the chosen firm transaction with people
interests (Bushee, Carter and Gerakos, 2013).
Political theory
Political theory bring approach for developing and support from stakeholder instead of
purchasing voting power. In corporate governance, political influence may have direct impact on
the organisation and public interest. This is also reserved as the government participates in
corporate decision-making. It also taking model of corporate governance that influence on
governance development. From past several decades, government of the nation seen strong
political influence on the firms (Ayuso, Rodríguez and Ariño, 2014).
8
Illustration 3: Stakeholder theory
Source: (Valentine and Abdullah, 2017)

Resource dependency theory
In addition to this, stakeholder theory also focuses on the relationship with many groups
to create individual benefits. Resource dependency theory concentrate on the role of board of
directors that provides access to resources that are needed by the business. It also focuses on the
role of directors which plays to provide securing of essential elements that needed in the business
unit (Klettner, Clarke and Boersma, 2014). Firm also provide legal advice in board meeting and
private communication as well. Further, in this way, it can be argued that provision of resources
enhances the functioning of firm performances and its survival as well.
ETHICS THEORIES AND CORPORATE GOVERNANCE
In the fundamental corporate governance, there are different theories explained such as
agency, stewardship, stakeholder, political, transaction, etc. These all theories can be related
closely with corporate governance. It assists to include business, virtue, feminist, discourse and
post-modern ethics theories (Lim, How and Verhoeven, 2014).
Business ethics theory
In this context, business ethics theory studies about activities, decisions and situations
which are right and wrong and need to be addressed. Main reason due to which it can be
influence the enterprise is power in the given society to make it strong to produce products and
services in Tesco. This is because, business has the great impact on the society than ever before
and the demand is continuously rising for implementation of ethics in business. This business
theory also focuses to find right and wrong things of the organisation that need to be assessed in
significant manner (Alam Choudhury and Nurul Alam, 2013).
Feminist ethics theory
Feminist ethics theory emphasizes on the several elements such as empathy, healthy
social relationship and care for each person so that harm can be avoided. In the selected business
unit, care for each person is social concern, that merely required to earn more profits in Tesco.
Further, ethics can also be seen in the light of environment to exercised. It is very important to
make effective network of actions which can be influence communication level and interaction.
Discourse ethics theory
Discourse ethics theory is concerned with peaceful settlement of the conflicts in Tesco. It
is also known as the argumentation ethics which refers to the establishment of ethical truths
9

through investigating presuppositions of discourse. It also contents such kind of settlement which
would be beneficial to promote cultural rationality and cultivate openness.
Virtue ethics theory
This theory also focuses on moral excellence, goodness and effective character as well. It
states that for a given situations that required to solve business issue and also helps in
disposition. It assists to make effective choice and decision to decide honest and make
strengthens for virtue and honesty. It includes two aspects such as affective and intellectual. This
concept suggests doing right things and positive feelings as well (Klettner, Clarke and Boersma,
2014). In addition to this, intellectual concept suggests for working virtue act with right reason in
the chosen business. Process of educating and exposure need to make good virtue and
development of ethical values required for life evident. Each person of Tesco need to expose
good and positive standards, exhibiting honesty and create fairness exercise to do right things.
Virtue ethics also highlighted certain characters towards developing moral and positive
behaviour which lead to set traits and also helps person in good life (Ayuso, Rodríguez and
Ariño, 2014). This theory assists to make effective results in Tesco to work in significant
manner.
Virtue ethics determines set of traits that helps in order to good life. It consists with
happiness and sense at broader level within the selected business unit. Therefore, it includes
facial value of morality and also addressed to get good feelings. It provides more holistic
approach in which enterprise can make goals to accomplish priorities (Lim, How and Verhoeven,
2014).
From the different theories, it can be emphasized through advancement of
communication and information technology which directly impact on the business performances.
Different countries' government can be varies due to cultural values, political and social
circumstances. In this aspect, governance developed for countries which can be vary in economic
context for each individual. It is very important for good corporate governance to demonstrate
one specific theory so that it combines variations to address social relationship. Therefore, it
emphasises to make development in countries to the culture and economic context (Goranova,
Abouk and Soofi, 2017).
Moreover, effective and good corporate image of the one theory can be develops that
combines different elements to make enforcement in surrounding environment. It includes rules
10

and regulations which creates several norms for corporate governance, in the holistic realization
infringement also develops in successful way for corporate world (Bushee, Carter and Gerakos,
2013).
Action plan
11

Here are some biggest challenges which are faced by the Tesco Ltd. And the activities
which were performed by the company to over-come these problems, these are some issues
which are faced by the company along with the time required for those activities and the results
which are overcome after performing following activities in order to resolve such issues (Hough
and Quinton, 2016).
Issues Activities Time
Frame
Result
Competition: - Due to
highly competitive
market many times
there are several
Ethical issues which
are arising because of
the activities of the
company such as over
production,
advertisements issues
and others (Thomas
and Goyal, 2017). In
order to deal with the
competition from other
retail supermarket
brands some time
company offense of
legal terms such as
advertisements issues,
over production, low
quality production,
and their excessive
margin on the
As the company is the largest
supermarket chain all over the
world, it has to face huge
competitive issues in working
progressively and stay as a
market leader but in order to run
the company's administration
smoothly company has to avoid
all these issues. In order to deal
with these issues Tesco can set
and introduce a team which will
manage and examine these
activities to deal with legal and
quality terms (Ward, 2017).
Organisation can also set a
specific department which will
work to deals with the
competitors such as assisting
other department to create
further strategies for making the
profit and for the development
of the Company.
For setting
up of these
communities
in Tesco, it
requires
around 14
weeks. In
addition to
this, these
committees
are required
to work life
long in
progressive
direction for
the success
of the
company
By applying the given
strategy Tesco will be
able to deal with its
competitors with more
resources and this will
make the company
functioning totally as
according to the legal
terms (Miller and
Blackler, 2017).
12

products.
Doubts over Share
price: - The company
is not providing proper
information regarding
their share's values
which is resulting in
the breaking of trust
among potential
stakeholder and
investors.
In order to deal with these
misconceptions Tesco should
promote transparency in their
company regarding their share
prices and should work in
progressive direction to develop
further trust among their
stakeholders about the company
(Rogers and Entwistle, 2017).
For this Company can improve
their communication strategies
to provide clear information
about their prices and profit
rates
To deal with
this issue and
application
of these
corrective
actions
company
requires
around 4
weeks.
By application of these
corrective polices
Tesco would be able to
develop potential trust
among their
stakeholders and brand
name in the market
which will encourage
further buyers to buy
the shares of the
company and result in
ultimate profit.
Sales in Big Stores: -
Products which are
selling in the big stores
of Tesco sometimes
get expire when they
are not sold within the
duration of their
expiry date, and this is
also arising Ethical
offense to the set rules
and regulation by the
system. This offense is
also breaking the trust
of customers toward
the product quality
To deal with these type of issues
Tesco should promote regular
checking of their products in the
stores to check its expiry dates
and make sure that any of the
product will not stay in the
stores after their expiry date. To
this company should only take
particular amount of product
from the production house
which will reduce the rate of
waste production in the
company.
It will take
around 2
weeks to
apply these
strategies in
the company.
This policy will reduce
excess production of
the Company hence
reducing waste and
develop trust among
potential customers
about the quality of
products offered by the
Tesco.
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delivered by the
company.
CONCLUSION
From the above review, it can be stated that corporate governance is the main issue from
different theoretical perspective. Emergence of the different theory such as agency, stewardship,
stakeholder, transaction, political, theories etc. Further, ethics in the enterprise determines in
effective way that closely associated with corporate governance. It can be demonstrated with
association of different theories such as ethics, feminist, discourage, virtue and many other
aspects. In addition to this, it can be summarized that corporate governance interact with social
relations rather process orientation structure.
Moreover, these theories also have focused on the views of shareholders which aims
mainly on getting high return on the investment. In today's time, business environment and
process need to focus on critical factors such as legislation, culture and institutional context.
Corporate governance also consistently changes with continue evolve and changes are also
driven through both internal and external environment dynamics. In the internal environment
shareholders relationship need to be maintained with creating fixed mindset. Therefore, it will be
helpful in maximising profits and revenue for business unit. Beside this, issue in the external
environment break up the large conglomerates through creating mergers and acquisitions of the
business unit.
14

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