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Corporate Social Responsibility Assignment - L’Oreal

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Added on  2019-12-03

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The report herewith is going to explain the CSR initiatives of a leading cosmetic company of France namely L'Oreal. The mentioned organization is the world's largest cosmetics company which deals with Cosmetics and beauty products. This assignment represents CSR strategy issues faced by the company as well as the CSR approach of L'Oreal in various countries. A critical assessment of the CSR Strategy of L'Oreal is made in the report along with recommending future changes for L'Oreal. You can also check the Business and Strategy of L'Oréal in detail.

Corporate Social Responsibility Assignment - L’Oreal

   Added on 2019-12-03

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Corporate Social Responsibility Cosmetics industry (L’Oreal)1
Corporate Social Responsibility Assignment - L’Oreal_1
Table of ContentsIntroduction .....................................................................................................................................3Company presentation and Justification of section ........................................................................3Main stakeholders...........................................................................................................................4Presentation of CSR strategy issues faced of L'Oreal .....................................................................7Analysis of CSR approach in Different countries ..........................................................................7Critical assessment of CSR Strategy of L'Oreal .............................................................................8Recommendation for future changes and proposal L'Oreal ............................................................9Self Reflection ..............................................................................................................................10Conclusion ....................................................................................................................................11REFERENCES .............................................................................................................................122
Corporate Social Responsibility Assignment - L’Oreal_2
Introduction Corporate social responsibility is the significant aspect to gain a better image in themarket and among various stakeholders. CSR are the activities made by the company to overseeand ensure a company's success in environment and well being. In today's business environment,CSR has become a major strategy of the company to sustain in the marketplace (Rick, 2011).The report herewith is going to explain the CSR initiatives of a leading cosmetic company ofFrance namely L'Oreal. The mentioned organization is the world's largest cosmetics companywhich deals with Cosmetics and beauty products. This assignment represents CSR strategyissues faced by the company as well as CSR approach of L'Oreal in various countries. A criticalassessment of CSR Strategy of L'Oreal is made in the report along with recommending futurechanges for L'Oreal. Company presentation and justification of section L'Oreal Group is the leading French cosmetics and beauty company which is the e largestcosmetics company in the world, based in Paris. The company was founded in the year 1909 andhas it’s headquarter in Paris. The mentioned organization has developed activities withindifferent fields such as cosmetics, skin care, perfumes, make-up, sun protection and haircare.L'Oreal has further expanded its business in the field of toxicology, tissue engineering, anddermatology as well as biopharmaceutical research fields. In the year 2014, the company hasgenerated revenue of around €22.532 billion and earned profits of €4.910 billion (L'Oréal, 2015).The Corporate mission of company is to offer the best in cosmetic to the women and menworldwide. The company focuses on quality, efficacy and safety. However, the firm is commutedto meet the infinite diversity of beauty desires and needs of general people, over the globe. Theorganization follows the strategy of Universalisation that means globalisation that respectsdifferences of culture. For a further extent, Company faces huge differences in desire needs andtraditions and designs its product and offerings by concentrating on different needs, hence it canbe said that L'Oreal is driven by the vision of Universalisation. The brand portfolio of companyis divided into four divisions which are further focused towards developing a specific vision foreach consumption universe as well as distribution channel (Sustainabile development report,3
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2013). Each brand of L'Oreal has its own strength and diversity which enable business entity tomeet all beauty aspirations of people around the world.The new sustainability plan announced by L’ Ore-al in 2013 includes the mission ofproducing more cosmetic products with less environmental impact. This is going to helpcustomers in making sustainable lifestyle choices as well as it enable the company to reach 1billion new consumers by 2020. With this new sustainable plan, the company is committed togain 100 percent of its products to render environmental or social benefit as well as reducingenvironmental footprint of company by 60%. The business entity is strongly committed to fightclimate change for this it has made active contribution to the mobilization of the civil societyalongside the States, so as to keep the temperature of environment below 2°C (Peloza and Shang,2011). In the recent year, this organization came up with its corporate social responsibilityproject namely “Sharing Beauty With All” with an objective of making L'Oreal into a moderncompany in the form of sustainable innovation, manufacture and consumption and to achieveshared growth by the end of 2020 (L'Oréal, 2015). The evidence of secondary investigationshows that the company has done a lot for improvement in corporate image in the marketplace inthe form of various corporate social responsibility activities. The chosen company is suitable fordiscussion as they have witnessed number of impacts of CSR activities on the business ofL'Oreal Company. This business entity is suitable because it is involved various corporate socialresponsibility programmes. Main stakeholdersThe organization has to deal with stakeholders of business so as to sustain in theenvironment. Prior to discuss about the stakeholders, it is to define who are stakeholders ofbusiness. Stakeholders are those groups without whose support the organization (Peloza andShang, 2011) . On the other hand, Freeman has defined stakeholders to be the persons who canaffect or are affected by the achievement of organization’s objectives. There are three majortheories of stakeholders such as Normative, Descriptive and Instrumental. As per the normativestakeholder theory, the organization can understand the reason why organization should take intoaccount stakeholder interests. Whereas, descriptive stakeholder theory attempts to ascertainwhether companies actually takes the interest of stake-holder's into account. Furthermore,instrumental stakeholder theory provides the answer to the question if it is beneficial for the4
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