Managing CR
We manage all aspects of our business using our Steering Wheel – a balanced scorecard of the key elements of our business: Customers, Operations, People, Finance and Community. We use the Steering Wheel to emphasise that corporate responsibility (CR) is not a specialist function in Tesco – it is part of everybody’s job every day.
The Board of Directors formally reviews our CR strategy once a year, and discusses emerging issues whenever relevant.
Lucy Neville-Rolfe, our Executive Director of Corporate & Legal Affairs, is accountable for our CR performance.
Our Corporate Responsibility Committee comprises 15 senior executives from across the business and is chaired by her. The Committee meets at least four times a year to develop CR strategy, review relevant policies and practices, identify opportunities to improve the sustainability of the business, agree and monitor CR KPIs, and engage with internal and external stakeholders on CR issues.
Every year we invite external speakers to address the CR Committee and comment on our CR strategy, performance and reporting. In addition, in 2008 we held an externally-facilitated discussion for the Committee, to help clarify our thinking on Tesco’s key CR issues and how we respond to them.
www.tesco.com/ about-us/strategy
“I’d like to see a shift towards strategic thinking in the annual CR Report, rather than the historic focus. This would help investors understand emerging issues. CR information should be contextualised to enable mainstream investors to understand how this activity relates to the business strategy” – Investor
“[Last year] the Report contained nowhere near enough on how the Community Plan is being rolled out internationally” – Supplier
