“Draw the curtain, the fraud is over” were some words of Francois Rabelais that completely describe what recently happened to Tesco PLC, a grocery and general merchandise retailer multinational with headquarters in Great Britain. Indeed the fraud is over but the questioning not only to the chief executives but everyone involved just begin, which was the motif for this to happen?
Basically although there will be investigations taking place, the reasons for all this is very straight forward as it is not the first time that happening and it will certainly not be the last time. First of all it is known that managerial positions are often motivated to work better by salary increases based on the increase in profit generated and certainly in present economic situation employees from the chief executive to the sales assistant want higher salaries. By this means when the possibility there is no doubt that someone would want to take advantage, each and every time we see this happening and as these occurs we question if in reality there is such thing as business ethics. It is also important to highlight that this is a public limited company and by this means managers would also want it to seem attractive so that investors put their money into it, which in the end they might just end up stealing like it happened some years ago with enron in the United States.
No matter which was the motif for this to happen a fraud is never going to be justified although as always there is common lie invented such as saying that they were only taking it as a loan, even more when it affect a whole chain of people including subordinate employees.
Bibliography:
“Tesco Accounting Questioned by Sainsbury’s.” The Telegraph. Telegraph Media Group, 01 Oct. 2014. Web. 09 Oct. 2014.