How does Lloyds TSB Company fulfil its obligations to stakeholders in terms of ethical business practice and socially responsible corporate behaviour?
Lloyds Bank was first established as a private bank by John Taylor and Sampson Lloyd 1765 in Birmingham England. Thought-out the course of the company Lloyds Bank expanded through a chain of mergers; this includes the Wilts and Dorset Bank in 1914 and the capital & counties Bank in1918. During 1923, Lloyds Bank had made a number of takeovers. However in more recent years on 1st august 1995 Cheltenham & Gloucester joined the Lloyds Bank Group, in the same year 28th December Lloyds Bank Group merged with TSB group and that’s where the name Lloyds TSB Group Plc came from. I will be investing how Lloyds TSB Company fulfil its obligations to stakeholders in terms of ethical business practice and socially responsible corporate behaviour and I will be researching more in depth about its key stakeholders and how their interest and importance influence the company, it will be shown through stakeholder mapping. I will also be looking at Lloyds corporate social responsibilities and ethical business practise and I will be analysing the corporate social responsibilities and taking into consideration how they impact on the stakeholders. As Lloyds TSB is a Public Limited Company it has many stakeholders which interact with Lloyds day to day business activities. Stakeholders are individual, groups or even organisation who have an interest or are affected by the business decision or activities. Lloyds TSB has a large workforce employing over 70,000 employees to serve its 16 million customers. Lloyds TSB has both internal and external stakeholders. Internal stakeholders work within the organisation and help achieve the organisations goals objectives these stakeholders are employees, senior executives, co-workers, shareholders, trade unions, merged (alliance) partners. On the other hand external stakeholders tend to influence the...
Please join StudyMode to read the full document