Why Ethics Are Essential
Gulf Business|December 2017

During a recent visit to Dubai, L’Oreal’s senior vice president and chief ethics officer Emmanuel Lulin spoke with Gulf Business about why good ethical practices are more important to corporations than ever before.

Neil King
Why Ethics Are Essential

In business today there is no chance of survival for those who don’t practice good ethics.

This is the view of the senior vice president of the largest cosmetics company in the world, who tells Gulf Business on a recent trip to Dubai that it’s now integrity rather than the bottom line that will mark out successful and sustainable businesses.

“Traditionally, corporations have been appraised, assessed and evaluated according to financial reasons,” says Emmanuel Lulin, who also serves as chief ethics officer at French giant L’Oreal.

“This time is over – and probably over forever. Now, if you want to appraise an organisation – public or private – you need to not only look at the accounts, but also at the value of the culture of integrity.”

Paris-based Lulin, who has witnessed varying degrees of ethical practices during trips to some 70 countries across the globe, argues that this integrity will determine which companies survive in the coming years – largely due to the public’s perception of their credentials.

“The currency for the economic results may be the euro, the dollar, or the yen, but the currency for ethics is trust,” he continues.

“You need trust, and the level of trust of any organisation is a pretty good indicator of its sustainability.

“A company with a good culture of integrity is worth more – in fact, it’s worth much more – than a company with a weak culture of integrity. An organisation with a weak culture of integrity will one day or another disappear. What is new in the 21st century is that it happens faster than before.”

His belief is backed up by other notable business leaders, who have echoed Lulin’s sentiments of late.

Esta historia es de la edición December 2017 de Gulf Business.

Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.

Esta historia es de la edición December 2017 de Gulf Business.

Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.

MÁS HISTORIAS DE GULF BUSINESSVer todo
Green lights
Gulf Business

Green lights

It hasn’t even been a full year that Stellantis, one of the world’s biggest auto companies, has been in existence. Still, its wheels are spinning furiously. Here’s what it has in store for the region

time-read
6 minutos  |
December 2021
Purpose through corporate responsibility
Gulf Business

Purpose through corporate responsibility

Every organisation must deeply reflect about whether they are leaving behind a legacy or a liability, says Abdulaziz AlSowailim, EY MENA chairman and CEO

time-read
5 minutos  |
December 2021
Analysing the layers of a coconut
Gulf Business

Analysing the layers of a coconut

When we have a sense of clarity as to our purpose in life, then we institute the correct practices and habits around us, and set realistic and achievable results

time-read
3 minutos  |
December 2021
DUNES TO DOMINION
Gulf Business

DUNES TO DOMINION

FOR A COUNTRY RICH IN TRADITION AND DRIVEN BY AMBITION, THE UAE’S JOURNEY DURING THE PAST 50 YEARS HAS BEEN UNPRECEDENTED. WHAT’S IN STORE FOR THE NEXT 50?

time-read
9 minutos  |
December 2021
Building strong
Gulf Business

Building strong

International investors are boosting Dubai’s residential property market, which has rebounded strongly from the Covid crisis, writes Aarti Nagraj

time-read
3 minutos  |
December 2021
CHASING THE AMERCIAN DREAM
Gulf Business

CHASING THE AMERCIAN DREAM

FOR SHAI ZAMANIAN, THE US IS A LAND OF LIMITLESS POSSIBILITIES, AN AVENUE HE AIMS TO OPEN FOR FAMILIES WORLDWIDE VIA IMMIGRATION. HERE’S HOW HE IS BRINGING HIS GOAL TO FRUITION

time-read
6 minutos  |
December 2021
OBITUARY: JOCELYN HENDERSON (1921-2021)
Gulf Business

OBITUARY: JOCELYN HENDERSON (1921-2021)

THE GRANDE DAME OF ABU DHABI – THE WIFE OF A FORMER DIPLOMAT – PASSED AWAY IN THE UAE CAPITAL AGED 100

time-read
3 minutos  |
December 2021
THE DIGITAL DISRUPTORS
Gulf Business

THE DIGITAL DISRUPTORS

IN THE COMING YEARS, THE GCC IS EXPECTED TO PLAY A SIGNIFICANT ROLE IN SECTORS SUCH AS HEALTHCARE, MANUFACTURING, EDUCATION AND RETAIL, WHICH WILL HELP BOOST THE GROWTH OF ITS NON-OIL ECONOMY

time-read
7 minutos  |
December 2021
Signed, sealed, delivered
Gulf Business

Signed, sealed, delivered

Nicolas Baretzki, CEO of Montblanc, partnered with one of the world’s most recognisable luxury brands, Ferrari, earlier this year. Here’s where the partnership, and the German company as well, is headed next

time-read
6 minutos  |
December 2021
UP, UP AND AWAY
Gulf Business

UP, UP AND AWAY

AS THE FIRST IN-PERSON AIRSHOW TO TAKE PLACE SINCE THE OUTBREAK OF THE PANDEMIC, THE EVENT SAW SEVERAL DEALS ANNOUNCED

time-read
4 minutos  |
December 2021