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Recommended: Tesco as a private sector organisation

Chapter Three: Social Responsibility and Stakeholder Perspective; A Case of Tesco PLC Retail Chain The Concept of Social Responsibility and Tesco PLC Corporate social responsibility (CSR) invaded the corporate world over the last few decades. This concept has become an essential need for competitive advantage unlike its original role as a nicety. The companies have seen the business benefit of the initiative and stakeholders have appreciated the initiative. This has led to the wide application in the firm’s operational agenda. The famous scandals facing the corporate world that is Enron and WorldCom brought a lot of disruptions to their operations. This brought about strict government regulations, as a result. This also marked as the reminder for NGOs to begin criticizing MNCs. This brought about ranking that necessitated firms to submit their non-financial performance records alongside their financial performance ones. The media has also become a close checker on companies. This has brought the need for firms to embrace social responsibility in their operations to curb battling with restrictors. Firms have also established good relations with their suppliers both as a prerequisite for effective business and as a social responsibility. (Cetinkaya, 2010) This is not different with the retailing industry as this is one of the largest growing companies globally. Over the past years, this market was regarded to have less concern on environmental aspects but has since attracted significant changes. In terms of capacity, productivity and revenue, Tesco PLC boasts of being the third largest retailer globally. The firm is based in UK but operates in 14 states (Profile, 2014). The company also is known for its well established social respo... ... middle of paper ... ... and opinions on the supply chain system Other Groups Tesco has strived hard enough to incorporate other disadvantaged groups in the society in their social responsibility initiatives. This includes volunteering charity to Marie curie cancer center to the tune of 2.6 million (Tesco plc, 2009). They also conduct regular engagement and partnerships; this is aimed at value addition and incorporates competitors, NGOs and activists not forgetting academic bodies. This has enabled the firm to maintain a close relationship with its stakeholders improving social responsibility with the stakeholder’s perspective in mind. The benefits accrued to this can never be underestimated. One can conclusively say that social responsibility has been effectively implemented in Tesco PLC. This has been done with the stakeholders at the center of the initiative interest (Tesco plc, 2009).

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