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

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.

In November the chair of the US Federal Reserve, Janet Yellen, said that the Fed’s effectiveness depends on the nation’s confidence that it is acting solely in the public’s interest, claiming that she and her colleagues had to “demonstrate our ethical standards in ways that leave little room for doubt”.

Continue reading your story on the app

Continue reading your story in the magazine

MORE STORIES FROM GULF BUSINESSView All

Special Report: Money matters

Exploring the future of wealth management in the GCC

10+ mins read
Gulf Business
June 2021

The music world's next frontier

Here’s why you should take note of the burgeoning independent Arab music scene

3 mins read
Gulf Business
June 2021

Shattering the status quo

Georges Kern, CEO of Breitling, is swimming against the tide and gaining market share for the Swiss luxury watchmaker. Here’s what he’s doing right

6 mins read
Gulf Business
June 2021

RACING FOR HYDROGEN

How gas giants are vying to stay relevant as the industry moves towards sustainable goals

4 mins read
Gulf Business
June 2021

London calling

A Dubai homegrown concept, The Maine, led by restaurateur Joey Ghazal is going international and taking its New England brasserie concept to London’s tony Mayfair district

6 mins read
Gulf Business
June 2021

Ensuring efficient SYSTEMS

Advances in UPS design can address data centre cooling challenges, says Jake Guo, Data Centre Solutions manager at Huawei ME

2 mins read
Gulf Business
June 2021

LADDER TO THE SKIES

It’s not just the view at the top that Bal Krishen, the CEO and chairman of UAE-based Century Financial enjoys, but also the journey of reaching there. In this exclusive interview, the enterprising executive reveals his stellar professional rise, where the investment market is headed, and what the future holds

9 mins read
Gulf Business
June 2021

AN ALPINE SOJOURN

Switzerland has been the bellwether and thermometer for the health of Central European tourism. It’s beginning to climb out of one of its most challenging years ever, with Switzerland Tourism CEO Martin Nydegger bullish about a strong recovery

5 mins read
Gulf Business
June 2021

CHECKING — IN —

The region’s biggest travel and tourism event, Arabian Travel Market, held a successful in-person and virtual edition last month in Dubai. And the big question predictably was – has the industry started to recover? Are travellers stepping back on airplanes and ready to explore new destinations as the industry adapts to the Covid crisis? Aarti Nagraj has more details

10 mins read
Gulf Business
June 2021

A charging bull

Stephan Winkelmann, president and CEO of Lamborghini, has laid out an ambitious roadmap for all the cars within its fleet to be hybrid models by 2024, followed by an all-new full-electric Lambo before the end of the decade. And before you ask, the V12 combustion engine will continue to breathe

5 mins read
Gulf Business
June 2021
RELATED STORIES

Evolution of the App

The introduction of the iPhone in 2007—or, more specifically, Apple opening its App Store to third-party developers in 2008—turned out to be one of the most consequential developments ever to hit the home automation market.

4 mins read
Sound & Vision
April - May 2021

iPad Pro

Next–gen arrives with M1, Liquid Retina XDR, 5G, and Thunderbolt

2 mins read
Mac Life
June 2021

Podcasts revamped

APPLE HAS UNVEILED a redesigned Podcasts app, podcast channels, and Apple Podcasts Subscriptions, a global marketplace for listeners to discover premium subscriptions offered by their favorite creators alongside the millions of free shows available.

1 min read
Mac Life
June 2021

Apple TV 4K

Now with 60fps HDR and all–new remote

1 min read
Mac Life
June 2021

LOSSLESS: APPLE MUSIC PREMIERES DOLBY ATMOS, SPATIAL AUDIO

In an effort to better compete with the likes of Spotify, Apple Music has announced plans to introduce industry-leading sound quality, as well as Spatial Audio and Dolby Atmos support.

6 mins read
AppleMagazine
AppleMagazine #499

EVERYTHING YOU NEED TO KNOW ABOUT APPLE'S TRACKING DEVICE

GET THE LOWDOWN ON APPLE’S OWN ITEM TRACKERS.

4 mins read
Macworld
June 2021

Why did Apple's original Hom fail? Let's count the reasons

Apple’s first smart speaker just met a surprising end, but it was one we could see coming

5 mins read
Macworld
June 2021

24-Inch M1 iMac – How To Pick The Perfect Preorder

Here’s our guide to help you buy the one you need.

7 mins read
Macworld
June 2021

24-Inch M1 iMac

New colors, new chip, and much, more

3 mins read
Macworld
June 2021

Hot Stuff

What we’re raving about this month

2 mins read
Macworld
June 2021