L'Oreal - Business Policy and Strategy
Introduction
L’Oréal was established in 1909, and by now the company is one of the leaders in the beauty market while providing a wide variety of products for each segment of its market tailored to meet expectations of its customers.
L’Oréal does and has always have believed in the strategy on innovation and diversification. Due to the products’ uniqueness, L’Oréal’s product became well-known and popular among all ethnic groups, not depending on gender.
Mission:
The company’s mission is to promote an approach to beauty that is fun, affordable, fulfilling, genuine and generous while meeting all stakeholders’ expectations by providing a portfolio of deeply diversified range of products. (L’Oréal Group 2007)
Values:
Striving For Excellence: L’Oréal is trying to enchant the brand portfolio with continuously innovating products while meeting all standards set for quality and safety.
Passion for adventure: their expertise drives their passion for new discoveries and innovation in cosmetics.
Enrichment through diversity: understanding and valuing each individual is an essential part of their corporate culture. Their staff members come from many different backgrounds and work together to offer a full range of products through varied distribution channels.
Valuing individual talent: they are dedicated to enhancing the well-being of their consumers; they also ensure that each employee has the opportunity to develop his or her potential through personal and professional growth.
Leading innovation in beauty: research, sensitivity to consumer needs, know-how and expertise are as essential as intuition. Building on their unrivalled experience and expertise, fundamental research is a specific focus of investment that drives creativity and contributes to developing the cosmetics of tomorrow.
Vision:
“A company that is highly successful economically.
A company where people are enthusiastic about going to work.
A company that respects the environment and acts
L’Oréal was established in 1909, and by now the company is one of the leaders in the beauty market while providing a wide variety of products for each segment of its market tailored to meet expectations of its customers.
L’Oréal does and has always have believed in the strategy on innovation and diversification. Due to the products’ uniqueness, L’Oréal’s product became well-known and popular among all ethnic groups, not depending on gender.
Mission:
The company’s mission is to promote an approach to beauty that is fun, affordable, fulfilling, genuine and generous while meeting all stakeholders’ expectations by providing a portfolio of deeply diversified range of products. (L’Oréal Group 2007)
Values:
Striving For Excellence: L’Oréal is trying to enchant the brand portfolio with continuously innovating products while meeting all standards set for quality and safety.
Passion for adventure: their expertise drives their passion for new discoveries and innovation in cosmetics.
Enrichment through diversity: understanding and valuing each individual is an essential part of their corporate culture. Their staff members come from many different backgrounds and work together to offer a full range of products through varied distribution channels.
Valuing individual talent: they are dedicated to enhancing the well-being of their consumers; they also ensure that each employee has the opportunity to develop his or her potential through personal and professional growth.
Leading innovation in beauty: research, sensitivity to consumer needs, know-how and expertise are as essential as intuition. Building on their unrivalled experience and expertise, fundamental research is a specific focus of investment that drives creativity and contributes to developing the cosmetics of tomorrow.
Vision:
“A company that is highly successful economically.
A company where people are enthusiastic about going to work.
A company that respects the environment and acts
References: L’Oreal USA, 2002, http://allianttech.com/Downloads/CaseStudy_AT_LOreal.pdf ICFAI, 2003, http://www.icmrindia.org/casestudies/catalogue/Marketing/MKTG062.htm Wikipedia, 2007, http://en.wikipedia.org/wiki/L 'Or%C3%A9al Nestlé S.A., 2006, http://www.snapdata.com/Nestle_2006.pdf Euromonitor International: Company Profile, 2007, http://www.snapdata.com/Nestle_2006.pdf E-Beauty News, 2004, http://www.beauty-on-line.com/ebn/newsletter.asp?eid=92 Beauty-Biotech, 2005, http://beautybiotech.blogspot.com/2005/10/how-loreal-become-world-largest-beauty.html L’Oréal Group, 2007, www.loreal.com L’Oréal Group, 2007, www.loreal-finance.com L’Oréal Group, 2005, http://www.corporateregister.com/a10723/loreal03-sus-fr.pdf Financial Times, 2007, http://www.ft.com/cms/s/0/ed8b5714-8b2a-11dc-95f7-0000779fd2ac.html?nclick_check=1 Financial Times, 2007, http://www.ft.com/cms/s/0/4127fde6-9607-11dc-b7ec-0000779fd2ac.html Owen-Jones Chairman of the Board of Directors since April 25, 2006. Jean-Paul Agon Chief Executive Officer since April 25, 2006 Director since April 25th, 2006 Liliane Bettencourt Director (the tenure was renewed on April 24, 2007) Jean-Louis Dumas Director until April 25, 2006, did not wish to renew his tenure as director in 2006 Annette Roux Director since April 24, 2007