About the Company
L’Oréal is a company that has gained its well-deserved fame due to its quality luxury products. Founded more than a century ago in 1907 in Paris, L’Oréal today is a technologically advanced company. The vision of Eugene Schuller, the company’s founder, was to bring forth a company that harnessed the power of technology to add to its reputation by providing quality services and products. Let’s know L’Oréal Mission & Vision Statement Analysis.
L’Oréal is currently one of the most well-reputed cosmetics brands in the world with its products being used and trusted by individuals irrespective of borders. The focus of L’Oréal’s products has been to provide hair solutions, sun protection products, skincare solutions along with make-up manufacturing, and perfumes. The suburbs of Clichy, Hauts-de-Seine in Paris, France house the main office of the company since July 1909.
L’Oréal had always been dedicated to providing solutions that were scientifically tested and reliable for good results. The company had initially worked with three chemists on their team, till the year 1920. The number of employees gradually increased as the popularity of the company grew. L’Oréal employed over 1000 chemists by the year 1984 which has now increased to more than double the figure.
When the company was founded, it primarily focused on being a hair-color business. But with continued success, the company expanded its area of expertise and stepped into the cosmetics industry by launching various beauty products. As of today, the company offers over a thousand products in beauty and also markets as many as five hundred brands. The beauty products are still catering to hair care by offering hair styling, permanent hair coloring, and temporary hair coloring products.
L’Oréal has grown over the years due to its innovative outlook. Today, the company has five research and development centers located globally. Two of these quality research and development centers are in the company’s native country while the other three are in China, the USA, and Japan. There are also plans to establish another facility in the USA.
L’Oréal is well and truly a global phenomenon and has business in 130 countries of the world. The company is the employer of 50,000 employees and is also the owner of 42 manufacturing plants in the world. This global setup of the company’s operations allows for the products to be manufactured locally which cuts down the cost of shipping and also provides significant employment opportunities to over 14,000 people.
Due to this commitment to social responsibility, L’Oréal was named the “Top employer of Europe” by the European Student Barometer in the year 2008. The company continues to contribute to the society in which they sell and an award called the L’Oréal – UNESCO award was introduced to recognize the improvement of the status of women in the society and to value the contributions of women and encourage further involvement in the scientific sectors.
Each winner of this award is granted the amount of $100,000.
Apart from this, the company is also conscious of its impact on the environment and aims to make its production and distribution efforts sustainable. The L’Oréal Group is mindful of its carbon footprint and aims to reduce pollution and waste during production by keeping dedicated towards recycling practices and waste management. This cosmetics company also offers cruelty-free products and also provides allergy-free products to its customers.
The Mission and Vision
The mission and vision statements of L’Oréal stand in testimony to the company’s continual growth in the cosmetics and beauty industry. The company is a class apart from its competitors and its products and services are chosen because they are trusted after years of trying and seeing good results. From its quality products to its customer service, the corporation ensures that its customers are the company’s first priority. This dedication to the needs of the customers is commendable as it has remained a constant in the values of the company.
The mission statement focuses on the day-to-day operations and how they should cater to the target customer demographic. The vision attempt, on the other hand, shows the company’s long-term plans for growth and development. The focus of the company or personal care is constant and the trust in the products is a given as they rely on science and technology to keep offering the best solutions possible to their clients. The missions and vision statements of the company work well together and need to be analyzed in tandem.
L’Oréal Mission Statement
The mission statement of L’Oréal is “offering all women and men worldwide the best of cosmetics innovation in terms of quality, efficacy, and safety to satisfy all their desires and all their beauty needs in their infinite diversity.”
The mission statement can be divided into the following core components on basis of which it can be analyzed in-depth:
- Offering all customers regardless the gender
- Offering the best cosmetics
- Innovation in quality, safety, and efficacy
- Satisfying customer needs by accepting their diversity
Mission Statement Analysis
L’Oréal is a brand that has a customer base of its own. And with good reason. As is seen from the mission statement, L’Oréal is diligently focusing on its customers to provide them with the best products available in the market. This company has been dedicated to skin and beauty solutions for so long that their innovations are now focused on improvement and intention rather than just profits.
For L’Oréal, scientific innovation and research matter because it is the only way in which the company can best serve its customers with the changing demands of the market. The company aims at providing the best services possible and does not restrict itself by doing only the bare minimum. From their base ingredients to the production process, the company ensures that quality is kept in check throughout.
Safety and efficacy are standards the company cannot compromise with either. Since L’Oréal has expanded its services to both men and women, the products now have a greater responsibility to become helpful to each user irrespective of their gender.
Typically, a mission statement works to provide an objective for the company which dictates its daily functions. The mission of the company will dictate how the supervisors are taking care of the daily operations to align them perfectly with the goals explained in the mission statement. The mission statement is focused on the products and their quality. It dictates L’Oréal’s commitment to their customers and how they shall continue to endeavor towards providing their customers either the same or a better quality of services they have been providing since the beginning.
Since L’Oréal offers its services to a wide range of people who not only belong to different genders but also live in different climates, cultural backgrounds, and ethnicities, the challenge is to maintain consistency with the product quality and efficacy. The product should be safe for use and should not be selective in its effectiveness. The mission statement thus talks about the needs of a customer and how it needs to be put at the forefront for the company to succeed.
L’Oréal Vision Statement
There is no official vision statement of L’Oréal available on the company’s website. The company does have a strategy that comes close to being taken as the vision statement of the company. The strategy of L’Oréal is universalization.
Under the broad umbrella of universalization, many aspects of growth and development can be included that correspond well to the functions of the company. The company’s vision or strategy can thus be analyzed by keeping in mind its dedication to the society in which it serves.
Vision Statement / Strategy Analysis
Universalization simply means setting up the company to be a worldwide recognized brand. One might consider it to be done because the company already caters to customers from 130 countries but L’Oréal knows that work is not done until there are more customers who could be won through their services. The company can be said to have achieved this globalization through its commitment to innovation without compromising sustainability.
Innovation could not have been possible without a comprehensive understanding of the needs of their customer first. Luckily, L’Oréal has been in business for more than a century and understands how skincare and beauty products need to be manufactured so that they can best benefit the user. The vision of the company, therefore, seems to be in perfect harmony with past experience which allows the company to grow based on its previous success.
Moreover, the company resorts to the cultural differences that are bound to impact the response of the customers as well as their needs for cosmetics. Targeted production and marketing allow the company to present its products to customers in a light that favors their demands and provides them with the best service possible with respect to their wants. The company accepts and thrives due to diversity which has made expansion into different parts of the world easier.
This expansion, however, cannot be done without keeping in mind the need of the hour. With the big corporations expanding production, the concern over sustainability issues has been on the rise. L’Oréal understands these concerns and actively works to provide services that are environmentally conscious and leave less of a carbon footprint for the company. The strategy thus rightly conveys the vision of the company which is to be a universal phenomenon by providing quality products through innovation while being mindful of sustainability.
L’Oréal Core Values
The core values of L’Oréal work to define how the employees from the base and up engage in daily functions and operations to make the missions and vision of the company come true. The core values of any corporation need to be analyzed to better understand its mission and vision because these values tell the reader how the company is working to achieve its short and long-term goals. The core values of L’Oréal are as follows:
- Passion for cosmetics: No company can be successful if they are not passionate about the service they are providing. The company has been growing ever since it was established and it would not have been possible had the founder and the later owners not been passionate about cosmetics.
- Innovation: An essential aspect of the research and development of L’Oréal, the company without innovation will be incomplete. The company relies on technological solutions to new obstacles to keep up with the changing time and demands.
- Entrepreneurial spirit: The spirit which dictates how well the business will fare in fluctuating economic conditions and in challenges faced by diverse markets is the entrepreneurial spirit which the company values to its core.
- Open-mindedness: A key part of innovation, the company has been open to suggestions and new ideas to keep on providing solutions that are effective and also of top-notch quality.
- Quest for excellence: Any company which aims for universalization cannot hope to achieve it without committing itself to excellence. Excellence is a mandatory aspect of manufacturing especially if you are offering products and services that aim at a better lifestyle. By adding this as a core value, the company ensures that quality is maintained at the base and excellence is strived for at every level.
- Responsibility: Responsibility and accountability go a long way in corporate culture. By fostering a work culture of integrity, the smooth functioning of day-to-day operations is guaranteed.
The core values thus need to be taken into account to better understand how they work to accomplish the ideals laid down in the mission and vision of the company. The innovation and entrepreneurial spirit work towards the goal of universalization by offering new ideas of expansion. Open-mindedness ensures that the company is flexible with the changing time as it crosses borders to offer its services globally. The passion for cosmetics and quest for excellence works well with the mission of the company to commit to good quality products that are both safe and effective. Responsibility can be taken to mean both responsible for their products and social responsibility. Both of these are taken seriously as quality is maintained along with sustainability by L’Oréal.