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Explain the Ethical Issues a Business Needs to Consider in Its Operational Activities

In: Business and Management

Submitted By syriahmonroe1996
Words 856
Pages 4
By Syriah Grossett
Unit 37 P1

Task 1 (P1) Explain the ethical issues a business needs to consider in its operational activities

What does business ethics mean?
Business ethics is a form of applied ethics it deals with ethical rules and principles within a business or commercial context, the various moral or ethical problems that can arise in a business setting, and any special ethical duties or obligations that apply to people who are engaged in commerce, including workers and managers, customers and suppliers, and the larger group of people who have some interest in the business.

Ethical issues affect all businesses, if a particular business is becoming a victim of bad ethical problems it could close down because the public perception would be very low. But if a company focuses on good ethical actions like recycling and only buying fair trade produce it would increase their popularity with consumers and boost sales.

Tesco
Tesco PLC is a multinational grocery and general merchandise retailer. After Walmart, Tesco it is the second-largest retailer in the world measured by profits and the second-largest retailer in the world measured by revenues. It has stores in 12 countries across Asia, Europe and North America and is the grocery market leader in the UK, the Republic of Ireland, Malaysia, and Thailand.

Tesco mission statement is 'To create value for customers to earn their lifetime loyalty'. We deliver this through our values, 'No-one tries harder for customers', and 'Treat people how we like to be treated'.
There corporate objectives are to offer customers the best value for money and the most competitive prices, and to support the well-being of the community and the protection of the environment. Tesco’s corporate aims are to maximise profit and to provide goods/services that is cheap and affordable to consumers or the public.

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