Every business entity has social responsibilities. The four theories of social responsibility are the maximization of profits, moral minimum, stakeholder interest and corporate citizenship. Social responsibility goes hand in hand in regard to a company’s ethical standing. As a company, it’s crucial to have high ethical standards. The Ethisphere Institute ranks businesses annually to be named on their honorable and highly recognized list of the World’s Most Ethical Companies. These organizations are evaluated in terms of their ethics and compliance programs, corporate citizenship and responsibility, culture of ethics, governance and leadership, and innovation and reputation. One of the companies on Ethisphere’s 2016 ranking is L’Oréal, making it their 7th time being recognized on this list (L’Oréal Named as one of the World’s Most Ethical Companies by the Ethisphere Institute for the Seventh Time – L’Oréal Group, 2016).
L’Oréal is on this list because they are considered one of the most ethical companies in the world. Many makeup companies have run into problems because they test their products on animals, which is controversial, but ultimately, unethical. The social responsibility theory of “moral minimum” is the theory that says a corporation has a duty to make a profit while also avoiding causing harm to others. It is well known that L’Oréal used to test their products on animals, but have since rid the practice. In doing this, L’Oréal has achieved their social responsibility in this area by avoiding causing harm to others. L’Oréal responds to the frequently brought up issue with, “L’Oréal no longer tests on animals or any of its products or any of its ingredients, anywhere in ...
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...ef Ethics Officer Recognized for Leadership in Corporate Ethics - L 'Oréal Group. (2016, January 22). Retrieved from http://www.loreal.com/media/press-releases/2016/jan/loreals-chief-ethics-officer-recognized-for-leadership-in-corporate-ethics
L 'Oréal: Frequently-Asked Questions. (n.d.). Retrieved from http://www.loreal.com/sustainability/l 'or%C3%A9al-answers/the-question-of-animal-testing/frequently-asked-questions
Ensign, Rachel Louise. (2013, November 12). Q&A: Emmanuel Lulin, L’Oréal’s Chief Ethics Officer. The Wall Street Journal. Retrieved from http://blogs.wsj.com/riskandcompliance/2013/11/12/qa-emmanuel-lulin-loreals-chief-ethics-officer/
L’Oréal Named as one of the World’s Most Ethical Companies by the Ethisphere Institute for the Seventh Time – L’Oréal Group. (2016, July 3). Retrieved from http://www.loreal.com/media/press-releases/2016/mar/ethispere-2016
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