It has particularly realized that for this relationship to materialize it has to continue to be grounded by ethical business practices. In doing so it has established a code of ethics for its staff, which basically set the standards for business behavior within it. In realization of the impossibility of covering every aspect of its activities, TESCO has instead set out principles of business ethics that have to be applied by every team member of TESCO. These sets of principles are in form of laws, policies, local customs and regulations, all of which lays down some of the crucial duties and responsibilities that have been placed on the employees, whenever they might be based. An important component of this code of ethics is the so-called “protector Line” which is basically an anonymous and confidential helpline that allow staffs to report any wrongdoing that they might encounter in course of their day to day activities from their colleagues. Code of Ethic This code of ethics also contains modalities on how to raise queries on compliance with the code of ethics where need arises. It is this code of ethics that reinforces TESCO’s commitment in doing business in a way that make a positive contribution to each and every stakeholder in the company. TESCO has always endeavored to work within the British Code of Advertising, Sale Promotion and Direct Marketing. It’s standard contracts that include standard terms and condition guides all its business transactions with external parties like suppliers. TESCO has however faced accusation of price fixing in the past. In this regard, I am referring to the 2007 investigation by the UK Office of Fair Trading (OFT) over accusation of acting as part a cartel with a number of UK hypermarkets (Asda, Safeway, Salisbury and Morrison) in fixing butter, cheese, and milk prices, an accusation that it still rebuff even after a number of its co-accused admitted acting against consumer interests. I have heard on the news that the retail industry has been performing badly because of the ongoing global financial crisis. How serious are the elements of risk faced by Tesco Plc? Do you think the company will improve in the future? The group policy of TESCO is not to use derivatives for the trading purposes; rather some derivatives do not qualify for hedging financial risk which is brought about by global financial crisis. This is because if the hedge is designated where losses and gains on the instrument offset the overall group income. Considering TESCO group, it had a liability relating to the future purchase of minority shareholding of its subsidiary which was purchased during the year. This strategy was aimed at hedging over the risk of global financial crisis. Other than the above strategies, the company would considerable hedge against, foreign exchange risk, credit risk as well as interest rate risk. Therefore, considering the above strategies adopted by the company then it is likely to improve in the future. Do you have any insights from the financial press on this? The main aim of preparing financial statements is to inform the public about the performance of the company so that they can make appropriate investment decisions s whether to invest or not to do so based on their personal decision. The fact that the financial press published the weaknesses that firms are experiencing the global financial crisis, then this was sufficient information to be relied upon in making any decision. What sort of audit opinion
Name: University: Course: Tutor: Date: Introduction: TESCO is one of the largest retail businesses in the food and grocery segment today. It large size is best depicted in its large workforce and thousands of retail food and grocery outlets that are scattered all over the world…
The research comprises the introduction, which includes the background of the two companies including the sales turnover, profits, and performance. The certain ratios like the liquidity, profitability, efficiency, gearing ratios and the investor’s ratios are calculated. The ratio calculation gives a clear picture on the company’s performance.
Accounting and Finance Financial analysis of Morrison’s and comparison with Tesco Introduction One of the most famous ways to analyze the performance of an organization is to analyze its financial statements and calculate various financial ratios. The ratios can be analyzed over a period of time and compared to other companies in the same industry.
The analysis is made in two parts. 1. Analysis of financial performance based on the results for the year and the overall position of the company in relation to the industry and the previous year 2010 and 2. Treatment of intangible assets in the books of accounts and the financial statements.
Global recession during 2007 to 2009 has substantial impact on the overall retail industry across the world. The external environment determines the outlook of industry and hence it is very important to analyze the external environment in order to formulate appropriate strategy for the organization.
In order to survive and continue to expand it has developed an effective strategy in order to confront the uncertainty and aims to provide its customers with a great shopping experience and to improve the performance of its stores worldwide.
Balance Scorecard and Strategy Map of TESCO. Kaplan and Norton formulated the balanced scorecard strategy and the strategy map in the 1990s. Since then many businesses have implemented this strategy and management tool and have witnessed success. This report tries to look into the ways in which Tesco Plc has implemented this method in the day to day business and the management decision making process.
t is chaired by the chief Oncologist and the regular members include a diagnostic radiologist, a pathologist, an anaesthesiologist and various surgeons of different specialties, a lead oncology nurse and several Directors. This Committee establishes the direction in which the
ly, more than 672,000 rooms in over 4,500 hotels in nearly 100 countries and territories around the world” (IHG website, 2012), The nine renowned brands being Intercontinental Hotels & Resorts, Crowne Plaza Hotels & Resorts, Hotel Indigo, Holiday Inn Hotels & Resorts, Holiday
Nevertheless, the foodstuff industry is categorized by disintegration. Fewer European international companies compete globally with a broad diversity of foods. However, 99% of all businesses in the food
8 pages (2000 words)Coursework
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