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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
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
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;
• Unemployment benefits for the employees (Shaman, 2000).
• Non-discriminatory hiring rule is for the justification to maintain legal rule.
• Family and medical leave is the most prior able thing and that is by the Act of employment rule.
• Employees retention is another thing should be maintained over organization.
Investors of organization (Tesco)
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).
Conclusion and Recommendation
Shaman, J. M., Lubet, S., & Alfini, J. J. (2000). Judicial Conduct and Ethics (p. 173). Lexis Law.
Murray, C. J. (Ed.). (2002). Summary measures of population health: concepts, ethics, measurement and applications. World Health Organization.
Frederickson, H. G., & Ghere, R. K. (2013). Ethics in public management. ME Sharpe.
Freeman, R. E. (2004). The stakeholder approach revisited. Zeitschrift für Wirtschafts-und Unternehmensethik, 5(3), 228.
Lawrence, A. T., & Weber, J. (2014). Business and society: Stakeholders, ethics, public policy. Tata McGraw-Hill Education.
Heath, J. (2006). Business ethics without stakeholders. Business Ethics Quarterly, 16(4), 533-557.
Aycrigg, M. (1998). Participation and the World Bank: successes, constraints, and responses. The World Bank.