Planning Sustainability Management Tesco

Introduction

Corporate Social Responsibility (CSR) is an effective strategic planning of the corporate firms in managing sustainability of the business as well as securing future development of the firms by managing all the stakeholders including customers, employees, managers, government, suppliers, shareholders and social communities as a whole which is important to manage the business operational activities and improve the operational efficiency of the firms in long run (Ye, Cronin, and Peloza, 2015). The aim of the study is to evaluate the concept of CSR as well as evaluate the importance of managing the CSR strategies at the firms. Through this study, it is possible to understand the strategic planning of the companies through which the firms can improve the sustainability of the business and enhance the business performnace. In this regard, for example, the strategic planning of Tesco will be discussed where Tesco is a famous retail firm in the UK, which is also operating across the globe. The strategic planning of Tesco in maintaining the sustainability of the business will also be discussed through which it is possible to acknowledge the organisational practice for managing their CSR which is important for the organisation Tesco in enhancing business operational efficiency across the international markets. The CSR practice includes ethical rules and legislations as well as proper tactics to maintain positive environmental footprint in order to imporve efficiency and sustainability of the firm in long run. CSR in this regard is important for Tesco and it is also necessary to understand the tactics of the firm in managing its CSR so that it can secure future sustainable development.

Concept of CSR

CSR provides an opportunity to all the multinational corporate firms to manage their tactics and develop strategic planning to improve organisational efficiency and secure future sustainable development so that the firms can run their operational activities successfully (Hopkins, 2016). Through managing the CSR strategic planning int he firms, it is possible for the companies to manage their ethical business practice which in turn helps to create proper values for both the internal and external stakeholders of the business, where the external stakeholders are such as government, customers, social communities and the internal stakeholders are such as managers, suppliers and distributors, managers, producers and employees. Hereby, through managing the CSR practice in the firms, the companies can manage their stakeholders and retain them of long run. It is the responsibility of the conglomerates to manage CSR in order to create positive impacts on the environment, so that the brands can secure future sustainable development as well as improve the business operational activities across the international markets (Flammer, 2015). In this regard, in order to understand the concept of CSR, Carroll’s model of CSR is important to be discussed well for managing the practice of CSR which can be described below.

The Carroll’s model of CSR is important to acknowledge the CSR practice where there are four steps which are economic responsibility, legal responsibility, ethical and philanthropic responsibility through which the firms can manage their responsibility towards their stakeholders and develop proper strategic planning for managing the CSR. As per the economic responsibility, it is necessary for the firms to be profitable by managing their operational activities where they can be successful in generating more profit by maximising its sales volume. It is necessary for the organisations to provide monetary rewards and create values for the stakeholders like employees, suppliers, managers and distributors through providing them proper salary. It is also the responsibility of the companies to provide high return on investment to the shareholders as well as create values for the customers by providing them quality products at competitive price (Diddi, and Niehm, 2016). In addition to these, as per the economic perspectives, it is necessary to maintain consistency in enhancing the firm’s profitability so that the firms can manage their economic return and enhance their performnace well and it in turn helps to maximise values for the stakeholders successfully.

As per the legal perspective, it is necessary to obey the existing legislations and practice for making the business ethical and maximising the wellbeing of the society. Developing law abiding organisation is hereby important for all the firms where managing the ethical rules and guidelines is helpful to make the business successful and conduct the operational activities ethically. For ethical business perspective, it is necessary for the organisations to avoid harm at the workplace and maintain transparency and accountability at the workplace for managing fairness. In this regard, the firms need to be consistent in treating all the stakeholders fairly and meeting the expectation of the societal mores and ethical norms successfully. In this regard, the firms try to maintain the health and safety at the workplace as well as follow the ethical rules and norms in managing the employees so that the employees can also feel safe at the workplace and they become interested in contributing more in achieving the organisational success. As per the philanthropic responsibility, it is the responsibility of the firms to contribute in the society through investment, charity and education as well as health and safety of the social communities for maximising the quality of life of the social communities as a whole. Philanthropic and chartable expectations need to be met by all the corporate firms in which the organisations can contribute in the society positively and it helps to create values and maximise wellbeing of the individuals as a whole. It is hereby important for the organisational leaders to take active part in the charitable program, community development program and others for enhancing the standard of living of the individuals.

Importance of managing CSR in contemporary business and society

CSR is important for all the multinational corporate firms to manage their brand image and business reputation as a whole through which the companies can establish the business at the market sustainably (Crowther, and Seifi, 2018). High customer retention is another benefit of managing CSR in the business through which the firms can strengthen their customer’s base in long run which in turn helps to secure future development of the business. Increasing customer’s retention and meeting the customer’s expectation are helpful for the firms through which the companies can maintain long term customer’s base and for example, Tesco as a retail firm is also successful in managing the CSR practice in the company and it will be helpful for the brand to retain old as well as mew customers in long run. Tesco s also famous for strengthening their customer’s base where they try to satisfy the customers by delivering quality products and other benefits to the social communities as a whole (Tesco, 2019a).

Enhancing relationship with all the stakeholders is another benefit of managing CSR through which it is possible for the organisations to build string relationship and imporve trust and loyalty among the stakeholders in long run which int run provides a scope to run the business operational activities strategically. Through managing the CSR at the Tesco, the leader and the managers are also focusing on retaining long term stakeholders through developing string corporate relationship with them. Apart from that, enhancing organisational performnace and accessing the funding and resource utilisation are also other importance of managing CSR in the organisation where all the stakeholders can maximise their values ta the firm. In this recant era of globalisation, the retail firms are facing high threats of competition and in this context the employees play a crucial role in managing the business operational activities and enhancing the performnace of the companies (Grayson, and Hodges, 2017). Through CSR, it is posisbel to satisfy the employees and retain them for long run. Tesco is also efficient to manage the employees and meet their expectations for retaining them for long turn by improving trust and loyalty. Managing CSR provides an opportunity to Tesco to make the business profitable and satisfy the employees by providing monetary and non-monetary rewards to all the staff members working at Tesco.

It is the responsibility of the firm to manage CSR including economic, legal and ethical and philanthropic responsibility where the firm Tesco can contribute in the society through charitable investment, improve positive environmental footprint and maintain business sustainability in long run. The company focuses on working as a team. Sharing knowledge and experience, improving trust and respect as well as listening and supporting the stakeholders. Through these strategies, the company manages the stakeholders and creates values for all the stakeholders. For managing the customers, the company delivers quality products at the competitive price where the firm is successful in creating values for all the customers. Great staff members respecting each of the customers, after sales service, 24*7 services to all the consumers and loyalty program are effective to maximise wellbeing of the customers. Apart from that, the company Tesco is efficient to manage the environmental sustainability through using electric cars for delivering the products and maintaining the warehouse so that they can reduce the greenhouse gas emission which is innovative planning of Tesco to promote sustainability by ensuring green supply chain management. As per the finance, Tesco focuses on maximising potability and securing future sustainable development by strengthening their customer base and it provides a scope to the company to provide high return on investment and satisfy all the investors, shareholders and employees (Tesco, 2019b).

Employees play a crucial role in the organisation where efficient staff members are able to manage the stores of Tesco across the international borders and in this regard, Tesco create values for the employees by providing them monetary and non-monetary benefits, performnace related pay, yearly bonus and proper salary stricture are helpful for retaining the staff for long run. The leadership strategy of Tesco is also another contributing factor in managing the staff where the leaders promotes equality and diversity at the workplace, manage health and safety of the employees at the workplace by implementing Health and Safety at Workplace Act 2015 as well as implementing Equal Pay Act 2010 and Minimum Wage Act 1948 so that they can maximise wellbeing of all the employees as a whole. On the other hand, the company focuses on creating values for the social communities as a whole by investing in charitable program and education where they invest a percentage of their profit on the charitable home for betterment of the society. In addition to these, Tesco introduces free distribution of foods which are excess, rather than wasting the food, the company launched freezer at the roadside where the street people can bring the food anytime from the freezer. It is also another innovative strategy for enhancing CSR strategic planning where the company minimise the food wastage and help the children to eat the fresh food, offered by Tesco. Through these strategic planning, the goals of the company Tesco can be achieved which are cleaner energy, zero hunger, no poverty, quality education, good health and wellbeing, gender equality, sustainable citizens, justice and peace, partnership with the social communities and economic growth (Tesco, 2019c).

Conclusion

Managing CSR is hereby important for all the conglomerates for creating values for all the stakeholders who are engaged with the business and it provides a scope to the businesses to secure future sustainable development. The strategic planning of Tesco is effective to build string relationship with all the stakeholders and provide positive return on investment. Moreover, investment for social community development, no poverty and minimising food wastage program will be effective for the company to create values and maximise wellbeing of the social communities as a whole. The company Tesco is efficient in providing positive environmental footprint and it secures future sustainable development through managing its economic, legal, ethical and philanthropic responsibility where Tesco satisfies all its stakeholders including the customers, employees, suppliers and distributors, government, managers and social communities through which the company can manage their CSR and enhance the performance of the brand for achieving high economic growth.

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Reference List:

• Crane, A., Matten, D. and Spence, L., 2019. Corporate social responsibility: Readings and cases in a global context. London: Routledge.
• Crowther, D. and Seifi, S., 2018. Redefining Corporate Social Responsibility. London: Emerald Group Publishing.
• Diddi, S. and Niehm, L.S., 2016. Corporate social responsibility in the retail apparel context: Exploring consumers' personal and normative influences on patronage intentions. Journal of Marketing Channels, 23(1-2), pp.60-76.
• Flammer, C., 2015. Does corporate social responsibility lead to superior financial performance? A regression discontinuity approach. Management Science, 61(11), pp.2549-2568.
• Grayson, D. and Hodges, A., 2017. Corporate social opportunity!: Seven steps to make corporate social responsibility work for your business. London: Routledge.
• Hopkins, M., 2016. The planetary bargain: corporate social responsibility comes of age. Berlin: Springer.
• Ye, C., Cronin, J.J. and Peloza, J., 2015. The role of corporate social responsibility in consumer evaluation of nutrition information disclosure by retail restaurants. Journal of Business Ethics, 130(2), pp.313-326.
• Use the following prompts to help you write a paragraph of about 200 words that reflects on your learning in this stage of the Guide.
• Feedback that I received at earlier stages in the writing process includes... and I have actioned it in my draft in the following ways...
• Specific feedback I would like to receive on my draft essay is... because...

Write your reflection in the space below

As per the feedback, provided earlier, I received that I have to use real life examples for understanding the recent practice of CSR in the organisational context, proper grammatical use ad proofreading. In this draft, I consider all the feedback that was provided before and I try to imporve this draft by taking into the consideration about the examples of the practice of CSR in the organisational context, I use effective grammar and punctuation to develop grammar free content as well as use proper Harvard referencing style to make the academic writing. In addition to this, I also check the whole content and proofread for making clarity about all the content developed in this draft. Proper example of Tesco and its strategy to maintain CSR planning is discussed and evaluated well in this draft which help me to develop arguments and improve evaluation of the practice of CSR. Contemporary example of Tesco and proper referencing of the website of the Tesco is also effective to draw effective conclusion about the strategic planning of Tesco. Hereby, I mainly focus on critical evaluation, recent example of implanting CSR practice and proper evidence-based learning by referencing the content well during developing this draft.