Report on Tesco's Business Context, Ethics, and Sustainability

This report provides an analysis of Tesco's business context, examining the dynamic and changing nature of business within an international environment. It explores the impact of technological advancements, corporate social responsibility (CSR), and business ethics on Tesco's operations and growth. The report identifies the need for organizations and individuals to embrace sustainability and ethical behavior, particularly in the context of cultural, economic, social, and environmental issues. It highlights the importance of CSR policies, ethical conduct, and their influence on leadership effectiveness and customer satisfaction. The report concludes that globalization and a global business environment necessitate a strong understanding of ethics and CSR for companies like Tesco, emphasizing the significance of addressing environmental, social, and economic challenges responsibly.

Context of business

Table of Contents
INTRODUCTION...........................................................................................................................1
LO 1 ................................................................................................................................................1
Dynamic and changing nature of business and consideration of future of companies with
international business environment ............................................................................................1
LO 2.................................................................................................................................................2
Identification of need for organisations and individuals to become sustainable & behave
ethically in the context of cultural, economic, social and environmental issues .......................2
CONCLUSION................................................................................................................................3
REFERENCES................................................................................................................................4

INTRODUCTION
The business context includes understanding of the elements outcome the business from
different views involving ways of decisions and created and type of business is finally seeking
to accomplish. Through utilising the purpose driven concept and monitor of business context of
firm before introducing the strategic initiatives (Wang, 2016). This study is based on Tesco. It is
the multinational grocery and general merchandise in the UK. Report will explain dynamic and
changing nature of business and consideration of future of companies with international business
environment. It will identify new to manage responsibly and sustainably as well as behave
ethically.
LO 1
Dynamic and changing nature of business and consideration of future of companies with
international business environment
Dynamic nature of business means adapting existent goods and services and modifying
them, so that it better suitable needs of consumers. There are many other changes in dynamic
nature of business which impacts on further growth of companies like Tesco within the
international business environment. Changes involves such as:
Technological Advancement: It is the ever-changing element of dynamic nature of
business which impact on operation and activities of the business. Through this, company like
Tesco easily run their operation for example online selling. This can aid to increase consumer
satisfaction and their expectation towards the goods and services. Also, this can assist to raise
sales and profits of business (Yuan and Miyazaki, 2017). This kind of elements also impact on
business expansion in international business environment. Therefore, company needs to adopt
different technological advancement for success and growth of business. With the help of it,
company easily accomplishing objectives and goals.
Corporate Social Responsibility: It is the also most essential element which is self
directing business concept that aids to firm like Tesco be social responsibilities to their
stakeholder, itself and public. In order to that, there are four kinds of CSR like environmental
sustainability, ethical business exercise and economic accountability. These kinds of CSR have
impact positively on environment and stakeholder like consumer, investors, workers and people.
In relation to that, company needs to follow all activities of CSR for changing nature of business
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and further growth at international business environment. Also, this can aid to consumer
satisfaction and expectation towards goods and services of Tesco. With the help of it, company
easily accomplishing objectives and goals.
Business Ethics: It is research of proper business policies and practices relating to
expected disputed topics involving insider trading, discrimination, corporate governance CSR
etc. Therefore, company like Tesco needs to follow all business ethics for improving nature and
culture of business. It is the important to attract the consumer towards products and services
which increase sales and profitability of business (Lim and Greenwood, 2017). It make workers
needs to stay with business decrease labour turnover and enhance productiveness. With the help
of it, company easily growing at international business environment. Also, this can aid to raise
the consumer satisfaction and expectation towards the retail business. With the help of it,
company easily accomplishing objectives and goals.
LO 2
Identification of need for organisations and individuals to become sustainable & behave ethically
in the context of cultural, economic, social and environmental issues
It is very important for Tesco supermarket and individuals to have a proper understanding
of sustainability and ethics. Ethics and sustainability make companies and individuals able to
take corrective actions and find out the difference between the right and the wrong. Tesco
operates in various countries so it is very important for the company to follow CSR policy and
implement them in their organisational structure in order to prevent themselves from social,
environmental and economic issues. For retaining in a competitive market and for becoming
market leader there is a requirement for Tesco to behave ethically and focus on sustainability
(Hopkins, 2017).
It is not only important for the company to have understanding of CSR, sustainability but
also important for individuals of company and society to behave ethically towards the
environment of the country. For providing the better services to the people of a particular society
and culture they require to have knowledge of the code of conduct of that particular culture. It
can help them in preventing from various issues and they can also take competitive advantages.
It is also required by individuals and companies to focus on solving problems related to
cultural and social. For that they require to manage responsible, sustainability and behave
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ethically means treat with norms of ethics. It shows customers and people that companies are
taking care of their believes, norms and will not hurt them. It is also analysed that effective CSR
policy is related with the effectiveness of leadership (Truong and et.al., 2018). If Tesco follow an
effective CSR policy and strategy then it can make leaders also able to perform all functions in
an effective manner. On the other hand if Tesco do not have proper strategy and sustainability
considerable then it may affect style of leadership. It can have negative impacts on their style of
leading and on their performance.
If company and Tesco does not follow CSR policy and do not behave ethically then they
have to face various problems regarding environmental, social and economic. If it is not
concerned with the environment and do not focus on sustainability then they have to face the
problems related to environment like scarcity of natural resource, imbalance in all resources,
greater emission of industrial pollutants etc. It impacts on their sales and productivity also as
customers do not believe and purchase from those companies who is not concerned with
sustainability and ethics (Clayton and Radcliffe, 2018).
CONCLUSION
From the above study it has been concluded that globalization and global business
environment made companies able to have proper understanding of ethics, corporate social
responsibilities and changing trends of the nature. It has also shown the importance of behaving
and treating ethically for individual and organisations as it helped them in solving environmental,
social and economic issues globally. It is also important for companies and individuals to
become Corporate socially responsible for achieving pre determined goals.
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REFERENCES
Books and Journals
Clayton, T. and Radcliffe, N., 2018. Sustainability: a systems approach. Routledge.
Hopkins, M., 2017. CSR and international development. In CSR and Sustainability (pp. 88-108).
Routledge.
Lim, J.S. and Greenwood, C.A., 2017. Communicating corporate social responsibility (CSR):
Stakeholder responsiveness and engagement strategy to achieve CSR goals. Public
Relations Review. 43(4). pp.768-776.
Truong, H. and et.al., 2018. Radiation Effect on Male Spermatogenesis and Fertility–The
Science and Ethical Consideration of the Oregon and Washington Radiation
Experiments on Prison Inmates. Urology. 121. pp.33-38.
Wang, Y., 2016. Environmental dynamism, trust and dynamic capabilities of family
businesses. International Journal of Entrepreneurial Behavior & Research. 22(5).
pp.643-670.
Yuan, F. and Miyazaki, K., 2017. Trajectory identification as proxies for discerning the dynamic
nature of technological change—The case of electric vehicles industry. International
Journal of Innovation and Technology Management. 14(01). p.1740006.
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