Nicolas Krafft is the current VP of the Global Business Development at L’Oréal. A major part of the firms’ strategy is the use of ethics as part of the future development of the firm. This is illustrated clearly during the Ethics Day which reflects the firms’ commitment to working together.
According to Nicolas Krafft, the ideology behind ethics is based on four critical principles. The approach makes use of the four basic principles including respect, integrity, transparency, and courage. The ethics are part of the guide of the firm’s activities with respect to the different environment, social responsibility, compliance, and respect for human rights, responsible innovation, and philanthropy.
It is through the Ethics Day, that Nicolas Krafft reveals that it depicts the perfect pioneering approach. The strategy is aimed at bringing the employees together. From this standpoint, the employees can be inspired to start positive initiatives.
Ethics Day creates a chance for all the workers of L’Oréal to push forward their queries through a live web chat. Later the questions are posted to the chairman and the CEO, Jean-Paul Agnon. It can also be forwarded to the senior county management to settle the local issues that touch on the employees.
During the 10th edition of the Ethics Days, it attracted over 60% of the entire L’Oréal workers population. The workers drawn from over 70 countries participated in the discussion. This not only answered the pertinent questions but also created a culture of ethics among the employees.
Given an outward look to Nicolas Krafft’s approach, it is based on a wide range of internal resources geared towards the promotion of a culture of ethics. This touches on all different levels of the organization.
Apart from the Ethics Day, L’Oréal has also been a strong advocator of the Human Rights Policy. This is in line with consideration offered to the rights within the value chain.
The efforts by Nicolas Krafft have been recognized for the 9th consecutive time by Ethisphere Institute. It was awarded among the World’s Most Ethical Firms. The United Nationals also awarded them as the Global Compact Lead Firm. Another accolade was the Sustainable Development Goal Pioneer for the advancements in business ethics.