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Key Topics
Requirement
Write report on a current ethical issue with TESCO PLC.
Solution
Executive summary
There are valuable ethical program because to maintain sustainability in the organization. This paper will identify the proper ethical circumstances and about their principle with standard rules and how ethics is a mandatory program in the organization. The major thing is that here in this paper the ethical sustainability will be criticized about the organization named Tesco. There are three things like stakeholder analysis regarding ethical point of view and what are the major alternatives and the last thing is that justification of that program.
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Introduction
Tesco plc is one the highest valued organization nowadays. This retail chain market had grown up continuously from last 20 years. Organizations exist create valued services and goods which people need all the time. Sustainability and ethics is the main thing in the any business sector like TESCO and this will be a major part of the retail business of course. The ethical points are mandatory and by which a company will get success. Ethics and sustainability is maintained by the priority in every organization (Lawrence & Weber, 2014).
Purpose
Purpose of the study is clarifying the ethical point of view of any organization, here chosen Tesco plc the retail chain market in UK. To measure the valuable ethical consideration of TESCO with stakeholder’s role will be discussed in the main body also.
Main body
1. From government to client they all are stakeholders of any particular firm. An organization is not operating g a vacuum. Any business needs a verity of stakeholders and those stakeholders are very important to be a part of that business.
From owner to many kinds of relationship build-up maintaining people are the stakeholders. Stakeholder needs to deal anything to the company should be maintained ethics. The ethics may be like a legal paper or may be like decorum. Each group of any organization requires the industry to convene a certain set of moral or ethical standards. Failure to convene these moral or ethical standards can show the way to anything from refuse in sales to lawful penalties at all.
TESCO STAKEHOLDER ANALYSIS
Stakeholders Contribution to the organization
Shareholders Capital
Managers Expertise skills
Workforce Expertise skills
Suppliers Quality inputs needed
Customers Revenue from the purchase of the goods and shares
Government Governing the good business practice
Community Economic and social infrastructure are always crucial
Public Royalty and reputation is the main thing
Employment law
Employees are one kind of stakeholders and they need all the right to be a part of any project. Employees have many legal rules and company should maintain all of these. There are eight rules in ethical point of view can be measured up like;
In spite of sexual category is the first point that should be maintained and another most important point is secure work environments. Those are valuable points and must criticize those always. If another six will be measured then there are like;
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• Unemployment benefits for the employees (Shaman, 2000).
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• Non-discriminatory hiring rule is for the justification to maintain legal rule.
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• Family and medical leave is the most prior able thing and that is by the Act of employment rule.
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• Employees retention is another thing should be maintained over organization.
Social responsibilities
An industry be indebted a responsibility not only to the individuals or people but also it operates directly with it, but to anybody or he or she may be insider or outsider who may be affected by the business’s performances and activities as well. Any industry or kind of small or large has a responsibility to sustain and maintain the public curiosity or kind of interest when it can, or at the extremely least diminishes any minimizes the legal contact it has on its surrounding area. The violation of laws is illegal as the point of view in ethics also. The rule and regulation should be maintained by the employees to government as this is a kind of social responsibilities.
Investors of organization (Tesco)
The investors of any organization are a part of stakeholders as everybody know about it. From the manager point of view what they think and what will be the ethics to maintain is always as same as the investor’s point of view. The stake means the credit will be depend upon their share values. The rule of ethics is controlled by the government as investors’ percentage is mandatory to be a part of Tesco. The rule is upon the stake what they purchased and about the discrimination should be there as well (Murray, 2002).
2. Ethical dilemmas can be more effective deal than another. The manager, employees and workers are placed in the same category of the ethics in Tesco. There are some major objectives will be followed by the managers top address the proper issue of ethics;
Alternative course of action should be identified like all types of dilemma afford more than the one opportunity. The cautious ethical issue in the workplace can be resolved but identifying the issue is mandatory first.
Course of action is another major term to control the ethical issue. Ethical reasoning skills are always an essential part to make any decision in the organization. Manager, owner not only those people take decision over an ethical issue. This sustainability is for all the parties which are the stakeholders of the industry.
Egoism looks at every decision making criteria by considering the effects of a choice or be kind of decision, only as it relates to the entity decision-maker. Most of the ethical part and sustainability points dismiss this system because it fails to judge or believe the consequences on the shareholders from any point of view. The necessary egoism is kind of act and that act measured by the decision making policy. For example, the manager or CEO of Tesco is dealing with monetary or kind of financial statement covering and wants the statements to seem as good as probable regardless of those rules which will be effective for others.
3. Decision-making process in ethical point at the workplace is burdened with risk and danger as stakeholders of a business industry can have competing loads and demands. Creditors and investors are expected to take delivery of truthful data and proper information while top administrative officers may consider their own personal prosperity and wealth and image is tied into putting the best face on the financial statements.
CSR activities with social investment policies are very important thing. Co-operation is the word by which ethical dilemma is always be maintained in Tesco or any other company. Proper justification cannot be given here as instead of focusing product and its functional benefits against the pricing factor. Evidence based support is needed as because of the rule and regulation about ethics (Heath, 2006).
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In the company like Tesco and obviously who are the giant retailers’ ethics and sustainability are those keywords which should be maintained as per business point of view. The general categories of ethics are major thing and it should be justified as well. Here in this paper it can be identified that ethics-maintained rule are acceptable by all the parts of the stakeholders and the paper major criticizes the process also.
References
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Gellermann, W., Frankel, M. S., & Ladenson, R. F. (1990). Values and ethics in organization and human systems development: Responding to dilemmas in professional life. Jossey-Bass.
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Shaman, J. M., Lubet, S., & Alfini, J. J. (2000). Judicial Conduct and Ethics (p. 173). Lexis Law.
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Murray, C. J. (Ed.). (2002). Summary measures of population health: concepts, ethics, measurement and applications. World Health Organization.
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Frederickson, H. G., & Ghere, R. K. (2013). Ethics in public management. ME Sharpe.
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Freeman, R. E. (2004). The stakeholder approach revisited. Zeitschrift für Wirtschafts-und Unternehmensethik, 5(3), 228.
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Lawrence, A. T., & Weber, J. (2014). Business and society: Stakeholders, ethics, public policy. Tata McGraw-Hill Education.
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Heath, J. (2006). Business ethics without stakeholders. Business Ethics Quarterly, 16(4), 533-557.
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Aycrigg, M. (1998). Participation and the World Bank: successes, constraints, and responses. The World Bank.
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