INTERNATIONAL STANDARDS

International Standards of Responsible Management



International Standards of Responsible Management

Introduction

The main purpose of this paper is to make an analysis on two companies and make discussion that which company is responding best to international standards of responsible management. The two companies discussed in this paper are Tesco as a home country and Wal-Mart as the global multinational company.

Tesco is a significant international retailer. As a global business, the company perceives itself as having a vital role to play in helping to minimize its environmental impacts. Although based in the United Kingdom, Tesco PLC has developed into an international grocery and general merchandising chain, employing 440,000 staff worldwide and with sales exceeding £59 billion (in the year ending February 2009). Operating income exceeded £3 billion. These figures make Tesco the largest British retailer in terms of both combined sales and domestic market share, and the third largest in the world after Wal-Mart (United States) and Carrefour (France). It has claims that £1 in every £7 of UK retail sales goes the way of Tesco (Hemphill, 2005, p. 11).

Wal-Mart always strives to “provide quality products at an everyday low price and with extended customer service” (McGarry, 2002, p. 90). In order to achieve this, they have adopted a series of strategies which range from loyalty programs for customers to e-tailing. Some of the key strategies include building divisions, which include smaller stores built in small communities with a population of less than 5000 people; this strategy allows Wal-Mart to give significant attention to customers in smaller markets, in rural America.

Literature Review

This International Standard provides general guidance for the basic principles of social responsibility, themes and issues got association with them as they address the means that enable people to introduce the concept of social responsibility within the framework of strategies, mechanisms and practices and processes of institutions of all, since these principles and guidelines will not be equal to use, the responsibility lies on the institutions in determining what followed and implemented them equally with their partners. Some may wish to use the government institutions in this standard, but this standard to Atstahedv or change the duties of governments (Sam, 2010, p. 23). The Chamber of Commerce of Madrid SMEs informed of the advantages of international standards for ethical and socially responsible management of companies. The analysis focused on the implementation of corporate social responsibility schemes proposed by the ISO 26,000. The ISO 26000 is compatible with the System of Ethical and Socially Responsible under the proposed rule Forética SGE 21 and promotes a common understanding in the field of CSR. The international standards of responsibility management identify that it is very necessary for each and every firm to manage their responsibilities, and they should perform ethically. There are different global standards on ethics and responsibility management (Clements, 1995, p. 12). It is necessary for each and every company to design their strategies in alignment with these standards. These standards help companies to act in a responsible and ethical ...