Download pdf
Exploring the Role of Corporate Social Responsibility Strategies for Business Success - Taking Tesco as an Example
- 1 Department of Business, Durham University, Durham, United Kingdom
* Author to whom correspondence should be addressed.
Abstract
This paper offers a thorough review of the philosophy and practice of Corporate Social Responsibility (CSR) and its effect on corporate success using Tesco as a case study. CSR refers to the pursuit of profit by a company while taking into account its impact on society and the environment. The paper examines how CSR is integrated into business strategy, in particular how it contributes to customer loyalty, brand equity and sales expansion. The study shows that Tesco is a pioneer in the field of sustainability. Tesco has a comprehensive and successful CSR strategy and has effectively communicated its social responsibility commitment to its customers. The way that consumers view CSR influences their brand loyalty, and there is a positive relationship between CSR and financial success. The degree of connection is dependent on the nature of the activity, how it is carried out, and how it is connected with other approaches to business.
Keywords
CSR, Tesco, sustainability, business success, brand loyalty
[1]. Cycyota, C. S., Ferrante, C. J., & Schroeder, J. M. (2016). Corporate social responsibility and employee volunteerism: What do the best companies do?. Business Horizons, 59(3), 321-329.
[2]. Ben Youssef, K., Leicht, T., Pellicelli, M. and Kitchen, P.J. (2017) The Importance of Corporate Social Responsibility (CSR) for Branding and Business Success in Small and medium-sized Enterprises (SME) in a business-to-distributor (B2D) Context. Journal of Strategic Marketing, 26(8), 723-739.
[3]. Jones, P., Wynn, M., Comfort, D., & Hillier, D. (2007). Corporate Social Responsibility and UK Retailers. Issues in social and environmental accounting, 1(2), 243–257.
[4]. Barnett, M.L., Henriques, I. and Husted, B.W. (2020) Beyond Good Intentions: Designing CSR Initiatives for Greater Social Impact. Journal of Management, 46(6), 937–964.
[5]. Nyame-Asiamah, F. and Ghulam, S. (2020) The Relationship between CSR Activity and Sales Growth in the UK Retailing Sector. Social responsibility journal, 16(3), 387–401.
[6]. Tesco. (2023). Our History. Retrieved from https://www.tescoplc.com/about/our-history/.
[7]. Thorisdottir, T. S., & Johannsdottir, L. (2020). Corporate social responsibility influencing sustainability within the fashion industry. A systematic review. Sustainability, 12(21), 9167.
[8]. Tesco PLC. (2004) Corporate Responsibility Review. Retrieved from https://www.tescoplc.com/media/iksjndde/cr_report_may2004.pdf.
[9]. Macqueen, R., Millard, S., Patel, U., & Whyte, K. (2022). 1. UK economic outlook. National Institute Economic Review, 260, e1.
[10]. Moisescu, O.I. (2015) The Impact of Customers’ Perception of CSR on Corporate Brand Loyalty: The Case of the Romanian Mobile Telecom Industry. Central European Business Review, 4(2), 21–30.
[11]. Mishra, H. G., Sinha, P. K., Singh, S., & Koul, S. (2013). Impact of consumer social responsibility and brand social responsibility image on brand loyalty. International Journal of Management and Business Research, 3(4), 297-309.
[12]. Kantar Worldpanel. (2023). Market share of grocery stores in Great Britain from January 2017 to October 2023. Retrieved from https://www.statista.com/statistics/280208/grocery-market-share-in-the-united-kingdom-uk/.
Cite this article
Zhou,L. (2024). Exploring the Role of Corporate Social Responsibility Strategies for Business Success - Taking Tesco as an Example. Advances in Economics, Management and Political Sciences,78,200-205.
Data availability
The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.
Disclaimer/Publisher's Note
The statements, opinions and data contained in all publications are solely those of the individual author(s) and contributor(s) and not of EWA Publishing and/or the editor(s). EWA Publishing and/or the editor(s) disclaim responsibility for any injury to people or property resulting from any ideas, methods, instructions or products referred to in the content.
About volume
Volume title: Proceedings of the 3rd International Conference on Business and Policy Studies
© 2024 by the author(s). Licensee EWA Publishing, Oxford, UK. This article is an open access article distributed under the terms and
conditions of the Creative Commons Attribution (CC BY) license. Authors who
publish this series agree to the following terms:
1. Authors retain copyright and grant the series right of first publication with the work simultaneously licensed under a Creative Commons
Attribution License that allows others to share the work with an acknowledgment of the work's authorship and initial publication in this
series.
2. Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the series's published
version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgment of its initial
publication in this series.
3. Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and
during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See
Open access policy for details).