Tesco meets the objectives of its customers by offering them all types of products from finest for those wanting something special, to value for those on a budget. No matter how much customers want to spend on a product, Tesco strives to always deliver value to all its customers. Furthermore, with different stores format, Tesco appeals to convenience shoppers as well as large families wanting to do their weekly shopping.
Tesco meets the objectives of its employees by offering them training programmes and personal development plan as well as attractive benefit package including flexible hours, leave, profit share, meal and childcare vouchers. Tesco meets the objectives of its suppliers by offering them long lasting partnership with regard to a strict code of ethics and code of practice. Tesco does business with a wide range of suppliers from local individual farmers to large manufacturers. Also Tesco has made great efforts in order to develop store structures to better meet the needs of both customers and employees.
Evaluate the responsibilities of Tesco and their chosen strategies to meet these responsibilities Source: http://www. tescocorporate. com/cr. htm, accessed on 2/2/2007 Tesco has corporate, environmental, communal, social and economic responsibilities. Its strategies to meet these responsibilities are: Corporate responsibilities: As a responsible Company, Tesco works hard to bring real benefits to the communities it serves, the environment and the economy. This is recognised through its inclusion in the FTSE4Good and Dow Jones Sustainability indices.
Each year Tesco contribute to charities and good causes and a total of ? 41m was given during 2005/06 in donations, staff time and gifts in kind. Economic responsibilities: The strategies are to bring lower prices, quality products and greater choice to its customers as well as to play an active role in regeneration, encouraging inward investment and creating rewarding jobs and careers. Plus Tesco works in partnership with its suppliers and enabling them to grow as Tesco grows.
Environmental responsibilities: Tesco is committed to playing its part in tackling climate change by reducing energy use and emissions from its distribution fleet. Tesco works hard to reduce energy consumption and greenhouse gas emissions plus it reuses and recycles waste, making its products more sustainable. Also, Tesco has plans to installing wind turbines at some of its new stores, alongside solar energy technology and geothermal power,. It will also be trialling gasification, a revolutionary technology to turn waste into clean, sustainable power.
Communal/Social responsibilities: Tesco continues to play an active role in regeneration, encouraging inward investment and creating rewarding jobs and careers in the communities where it operates. The company has decided to use its size to be a force for the society and, to meet this challenge it ensures to provide the right resources, energy and focus to meet the expectations of its stakeholders; the key objectives being to be a good neighbour and to be responsible, fair and honest in the way the company does business.
For example: Tesco works with local farmers to offer fresh products to its customers while helping these local farmers to make money. Also, the fact Tesco tries to work as often as possible with the locals, it limits transportation expenses (products can be sold at a lower price), pollution waste (environment friendly) and increase the buying power of the community (by offering jobs to the ‘locals’).