Shahrzad Haji Mirza Ali 860205-1461 BM6940 Innovation and Change Management

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COMPANY OVERVIEW

L'Oreal (or “the company”) is one of the largest cosmetic companies in the world. It produces

and markets a range of make-up, perfume, hair and skin care products in over 130 countries.

Since its inception about 100 years ago, the company has developed a strong brand portfolio

of 27 international brands (these brands' annual sales are superior to 50 million euros). Its

brand line-up includes L'Oreal, Redken, Matrix, Lancome, The Body Shop, Garnier,

Maybelline, Kerastase and Inneov among others, all of which are recognized globally. The

company had 613 patents filed in 2011 and have 5 development centres around the globe

which are based in Shanghai, Rio de Janeiro, Dubai, New York and Paris. L'Oreal brand was

ranked 40th in the Best 100 Global Brands 2011 list by an industry source.

It is headquartered in Clichy, France and employs 68,900 people in 66 countries. The

company recorded revenues of E20, 343.1 million in the financial year ended December 2011

(FY2011) an increase of 4.3% over FY2010. The operating profit of L'Oreal was E 3, 292.6

million in FY2011, an increase of 7.7% over FY2010. The net profit was E2, 438.4 million in

FY2011, an increase of 8.9% over FY2010.

BEAUTY FOR ALL

For more than a century, L’Oréal has devoted itself solely to one business: beauty. It is a

business rich in meaning, as it enables all individuals to express their personalities, gain self-

confidence and open up to others. Beauty is a language.

L’Oréal has set itself the mission of offering all women and men worldwide the best of

cosmetics innovation in terms of quality, efficacy and safety. It pursues this goal by meeting

the infinite diversity of beauty needs and desires all over the world. Beauty is universal.

Since its creation by a researcher, the group has been pushing back the frontiers of

knowledge. Its unique Research arm enables it to continually explore new territories and

invent the products of the future, while drawing inspiration from beauty rituals the world

over. Beauty is a science.

Providing access to products that enhance well-being, mobilising its innovative strength to

preserve the beauty of the planet and supporting local communities. These are exacting

challenges, which are a source of inspiration and creativity for L’Oréal. Beauty is a

commitment.

By drawing on the diversity of its teams, and the richness and the complementarity of its

brand portfolio, L’Oréal has made the universalisation of beauty its project for the years to

come. L’Oréal, offering beauty for all.

Shahrzad Haji Mirza Ali 860205-1461 BM6940 Innovation and Change Management

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FOCUS ON INNOVATION AND CHANGE

Focus on innovation and differentiation through robust R&D efforts L'Oreal's drive to

innovate is based on a strong R&D effort. R&D spending increased by 8.4% in FY2011 and

represented 3.5% of sales. The company dedicated E721 million to cosmetic and

dermatological research in FY2011.The company's R&D group comprises departments

specialized in the technologies critical to the company's various product categories. The

company has a cross-functional product development process intended to optimize the

company's ability to bring to market its new product offerings and to ensure that the company

continuously has new products lined-up in key categories under its various brands.

Furthermore, L'Oreal has increased its focus on developing differentiated and customized

products across various countries and regions. In order to understand local characteristics, the

company has research centres both in mature countries and emerging markets. It has 19

research centres and 16 evaluation centres across the world. These R&D centres formulate

products that are most effective and the best suited to the needs of the consumers in these

countries and regions.

For instance, in China, at the Pudong research centre, three years of study of Chinese hair,

together with analysis and interpretation of a local custom using dry wash shampoo led to the

creation of a range of shampoos and hair care products ideally suited to local hair types and

cultural traditions, focusing on fragrance, gloss and the shine effect.

The company also launched Baby Lips (the first-ever lip balm line from Maybelline New

York) considering the Chinese consumers’ judgment on lip balms. Strong R&D capability

allows the company to launch new products frequently and also expand its presence in new

markets.

Lancôme’s searchers worked during 10 years to develop the LR 2412 molecule, used in the

new Visionnaire facecare. This new care is protected by 20 patents. What are the

promises? In 4 weeks, wrinkles, pores and unevenness are visibly corrected. With this care,

Lancôme is competing with the Idealist Serum from Estee Lauder (almost launched at the

same time), the first fast-acting Serum proven to dramatically reduce the look of uneven

skintone such as redness, acne marks, dark spots, sun spots discolorations.

Cosmetic brands also need to use a good communication to compete with other brands. Some

cosmetic brands have a huge budget regarding their communication and use special strategies

to attract customers.

For example, l’Oréal Paris uses a lot of models, famous actors or actresses to represent its

brand : Eva Longoria or Doutzen Kroes for makeup and Claudia Shiffer for haircare.

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http://beautyfulbrands.wordpress.com/2011/11/09/key-competitors-of-loreal-paris-and-nivea/

Shahrzad Haji Mirza Ali 860205-1461 BM6940 Innovation and Change Management

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Building a House of talents

After two years of existence, L’Oréal’s subsidiary in Pakistan has already taken the group’s

spirit and culture fully on board. Following a tailor-made induction programme, its General

Manager Musharaf H. made sure she was personally involved in recruiting people with the

right profiles to drive the subsidiary’s growth: men and women who stand out because they

are passionate about beauty. Because taking up the challenge of a billion new consumers also

means accelerating the way skills and knowledge are transmitted to others, particularly in the

New Markets.

L’Oréal is one of the companies to offer a training course in sharing the corporate culture and

strategy. This intellectual melting pot process trains managers in a common language, and

encourages entrepreneurial spirit. In the L’Oréal “house of talents”, the 68,900 employees are

provided with everything they need to enable them to flourish, innovate and make a personal

contribution. Training is provided through events bringing together employees from all over

the world. One example is the “International Management Seminar” for experienced

executives. It consists of a week of conferences and workshops to focus on the group’s

strategic challenges, in conjunction with the Executive Committee, and ends with an open

debate with Jean-Paul Agon.

“My Learning” online training also plays an important role. Rolled out in 45 countries, it

enables each employee to play an active role in his or her personal development. New

countries—the United States, Brazil, Morocco, Lebanon and Turkey—joined the scheme in

2011. With a total of 23,000 connection hours and 43,000 employees trained, “My Learning”

is a real success. To get as close as possible to its markets, L’Oréal is also developing a full

line-up of local training programmes. The “Executive Education” seminar first held in 2011 in

Lebanon and Taiwan, trains new generations of senior executives, using an approach inspired

by business school MBA programmes. The “Culture and Strategy” seminar helps new

managers to understand the group’s strategic vision. In 2011, the seminar was held in Mumbai

in India, sending a strong signal to employees destined to build the L’Oréal of the future.

http://www.loreal.com/_en/_ww/html/company/pdf/LOREAL_RA2011_HD_27032012_EN.pdf

Breakdown of shareholding

Mrs Bettencourt and herfamily 30.8 %

Nestlé 29.6 %

Public 38.2 %

Treasury stock 1.4 %

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The L’Oréal Foundation and UNESCO announced the five women scientists

who will be honoured as the 15th L’Oréal-UNESCO For Women in Science

Laureates

The research of the 2013 Laureates demonstrates exceptionally original approaches to

fundamental research in the Physical Sciences, from contributing to better understanding

climate change to advancing research on neurodegenerative diseases and potentially

uncovering new energy sources.

• Professor Francisca Nneka OKEKE, University of Nigeria, Nsukka (Nigeria)

For her significant contributions to the understanding of daily variations of the ion currents in

the upper atmosphere which may further our understanding of climate change.

• Professor Pratibha GAI, University of York (United Kingdom)

For ingeniously modifying her electron microscope so that she was able to observe chemical

reactions occurring at surface atoms of catalysts which will help scientists in their

development of new medicines or new energy sources.

• Professor Reiko KURODA, Tokyo University of Science (Japan)

For discovering the functional importance of the difference between left handed and right

handed molecules which has wide applications including research on neurodegenerative

diseases such as Alzheimer’s.

• Professor Marcia BARBOSA, Federal University of Rio Grande do Sul, Porto

Alegre (Brazil)

For discovering one of the peculiarities of water which may lead to better understanding of

how earthquakes occur and how proteins fold which is important for the treatment of

diseases.

• Professor Deborah JIN, National Institute of Standards and Technology, and

University of Colorado, Boulder (USA) for having been the first to cool down molecules so

much that she can observe chemical reactions in slow motion which may help further

understanding of molecular processes which are important for medicine or new energy

sources.

“These five outstanding women scientists have given the world a better understanding of how

nature works. Their pioneering research and discoveries have changed the way we think in

various areas of the physical sciences and opened new frontiers in science and technology.

Such key developments have the potential to transform our society. Their work, their

dedication, serves as an inspiration to us all.”

UNESCO Director-General Irina Bokova

On 28 March 2013, the five Laureates will be honoured at an Awards ceremony in Paris and

will each receive US$100,000 in recognition of their accomplishments.

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A global programme promoting women and careers in science

Established in 1998, the L’Oréal-UNESCO partnership is a long-term commitment to

recognizing women in science and supporting scientific vocations. For Women in Science has

grown into a global programme that includes International, Regional and National

Fellowships and an international network of more than 1300 women in 106 countries.

“As a company driven by science, we know that science must take full advantage of all of our

planet’s intellectual resources. The recognition and promotion of women in science is more

than ever crucial to confronting the enormous challenges facing the world today. We are very

proud to have created this unique programme with UNESCO fifteen years ago and are

committed to steadfast support of its expansion.”

Jean-Paul Agon, Chairman and CEO of L'Oréal and Chairman of the L’Oréal Foundation

Over the past 15 years, the For Women in Science Award has recognized a great diversity of

scientists, 77 women working across the spectrum of research, from curing diseases to

protecting the environment. Year after year, the creativity of these women in science and the

importance of their findings continuously contribute to better understanding and improving

the world we live in.

www.forwomeninscience.com

http://twitter.com/4womeninscience

http://www.unesco.org/new/en/media-services/single-

view/news/loreal_unesco_for_women_in_science_announces_the_five_laureates_of_its_15th

_annual_awards/

L'Oreal USA Fellowships For Women In Science Award

L'Oreal USA celebrated five post-doctoral female scientists as the recipients of the

2012 L'Oreal USA Fellowships For Women in Science at an awards ceremony on September

13th. This national awards program, created in 2003, supports the advancement of women in

the sciences. Criterion included, among other things, an exemplarily commitment to the

achievement and advancement of science, technology, engineering and math (S.T.E.M.) under

the most promising post-doctoral female scientists across the country.

This year's awards ceremony was held at The Morgan Library and Museum in New York

City. The evening program welcomed honorary guests including:City Council Speaker

Christine C. Quinn and Ambassador of France to the United States Francois Delattre.

"I am delighted to honor these women today. Beyond what these women do in their daily

work, they are actually achieving something much larger: they are showing the world that

women can excel in anything they want to do. I thank them for their commitment to the

sciences and on issues that have the potential to affect the lives of us all. They truly are role

models, especially for younger people, and an inspiration to us all to be the best at what we

do."

Council Speaker Christine C. Quinn

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The 2012 Fellows are working on breakthrough scientific research, which address critical

global challenges that could aid millions around the world. Their research include:

Christina Agapakis, University of California, Los Angeles, CA, synthetic biologist, is

working to engineer new relationships between microorganisms that usually would not find

each other in nature.

Lilian Childress, Yale University, New Haven, CT, physicist, is working in quantum optics

the interactions between quantum states of light and mechanical motion.

Joanna Lynne Kelley, Stanford University, Stanford, CA, geneticist, is working in biological

diversity and characterizing specific pathways that underlie adaptive change.

Erin Marie Williams, The George Washington University, Washington, DC, anthropologist,is

working to understand human anatomy by looking at the tools of our early ancestors.

Jaclyn Winter, University of California, Los Angeles, CA, biochemist, is interested in

chemical diversity of biologically active natural products.

Each Fellow receives up to $60,000 to continue their post-doctoral research. Additionally, the

L’Oreal USA Fellowships For Women in Science offers professional development workshops

for the 2012 Fellows to aid and support these five women to build networks with

accomplished female leaders in corporate, academic, governmental and scientific fields.

The L'Oreal USA Fellowships For Women In Science is a national extension of the global

L'Oreal–UNESCO For Women in Science program, which, since 1998, has recognized 67

Laureates, two of whom received the Nobel Prize in 2009. The program has also awarded 864

Fellowships, which have been granted to young women scientists from 93 countries so that

they can continue their research projects. The program has become a benchmark of scientific

excellence on an international scale, revealing the contributions of these scientific women

each year.

Source: PR Newswire US, 09/14/2012

Item: 201209140957PR.NEWS.USPR.NY74549

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9140957PR.NEWS.USPR.NY74549

UNESCO-L’Oréal International Fellows are expected to go abroad to learn new techniques

and bring them back to their country. Mounira Hmani, who was named an International

Fellow 10 years ago, did exactly that and dit it susccessfully, developing a remarkable level of

excellence and publishing in leading international journals. In 2012, Mounira – who is

now an Associate Professor in Human Molecular Genetics at the Faculty of Sciences and

Scientific Researcher at the Centre of Biotechnology of Sfax (Tunisia) - received a Special

Fellowship, in the footsteps of Marie Curie.

When Mounira Hmani-Aifa of Tunisia won the UNESCO-L’Oréal International Fellowship in

2002, she used it to do postdoctoral research in human genetics at the Faculty of Health

Science in Linköping, Sweden. Back in Tunisia, she continues to study the genetic origins of

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hereditary deafness in the laboratory directed by Professor Hammadi Ayadi. In addition, as a

part of a bilateral project between Tunisian and Swedish teams, she started a new genetic

study on posterior microphthalmia, a rare hereditary disorder affecting the eyes. Having

recruited some Tunisian families in collaboration with ophthalmologists and

otolaryngologists, she succeeded in discovering some of the genes responsible, making

possible genetic counselling for affected families. Mounira plans to use her 2012 Special

fellowship to further investigate and interesting lead turned up by research concerning a

posible link between one of the genes she discovered and glaucoma.

The Special Fellowship rewards excellence and perceverance in the career of a former

International Fellow, and Mounira has shown a singular determination in pursuing her work

while maintaining the balance of her family life. Married ‘to and understanding scientist’, the

molecular biology professor Mohamed Sami Aifa, with four children, she holds a full-time

teaching job at the Faculty of Sciences, yet still manages to continue her research and publish

frequently in prestigious scientific journals, and also to participate in sports, socialize, read

and even join an association for women’s rights, La Femme Libre. She is hoping that, under

the new government in Tunisia, researchers will no longer be required to teach full time,

allowing her more time for lab work. She does not see any special difficulty in being a female

scientist in her country, where she notes that more women than men have PhDs in

science. ‘My problems – family life, pregnancy, children- are the same as those of my French

and Swedish friends,” she says.

“We are very proud to have changed the face of science by supporting women in science.We

are convinced that science and women bring hope and foster discovery, innovation and

excellence. All the best talents must be called upon to accomplish this mission. L’Oréal

believes in women, L’Oréal believes in science.”

Jean-Paul Agon, Chairman and CEO of L’Oréal and Chairman of L’Oréal Foundation.

Established in 1998, the L’Oréal-UNESCO partnership is a long-term commitment to

recognizing women in science and supporting scientific vocations. For Women in Science has

grown into a global programme that includes International, Regional and National

Fellowships and an international network of more than 1300 women in 106 countries. Over

the past 15 years, the For Women in Science Award has recognized a great diversity of

scientists, 77 women working across the spectrum of research, from curing diseases to

protecting the environment. Year after year, the creativity of these women in science and the

importance of their findings continuously contribute to better understanding and improving

the world we live in.

www.forwomeninscience.com

http://twitter.com/4womeninscience

Since its creation in 1945, UNESCO has pursued its mission of promoting science at the

service of sustainable development and peace. It focuses on policy development and building

capacities in science, technology and innovation and promoting and strengthening science

education and engineering. The Organization works to eliminate all forms of discrimination

and to promote equality between men and women, especially in scientific research.

http://www.loreal.com/_en/_ww/index.aspx

Shahrzad Haji Mirza Ali 860205-1461 BM6940 Innovation and Change Management

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Chaotic spiral of thoughts

L’Oreal should have different types of supporting and encouraging programs such as: Mentor

programs, gender studies, seminars, debates, conferences and different courses that will

encourage their women execs to keep their positions, internally.

They should think about how they can get women more involved and interested in the

company by different competitions, campaigns and public “inspiration days” for women only

from an external aspect. They could also do this for a headhunting purpose.

Why is it almost only men in the board committee they should offer women high positions

too? Only 3 of 15 board members are females according to the annual report 2011 and the

corporate website. However they do have a strong commitment to diversity with 113 different

nationalities and 58% of managers and 38% of management committee members are women.

External political factors like the 50/50 quota that the Norwegian government implemented in

their regulations and laws concerning their company culture i.e. half of the board members in

every Norwegian company must be women.

L’Oreal has more female managers than most companies. 29% of Management Committee

members work outside their country of origin. They should help their female employees to

settle things with their children’s education, accommodation and things that will make it

easier for a couple to work abroad together and also keep sending the husbands to the same

region.

When Sir Lindsey Owen-Jones Chairman of L’Oreal were giving an interview to CNBC, The

Leaders he said; We have to take quick decisions, we were hiring more women than men but

they were losing them to family obligations and general French belief that women’s place

were at home. L’Oreal had to fight to convince them that it was possible to do both. They

would give them a perfect even-break. For example: For people that was married and spent

half their carrier in different countries and had husbands not as mobile as themselves. L’Oreal

would their employee’s husbands company where they were working and ask their managers

to send them to the same location.

Source: DVD, The leaders, CNBC- The secrets to their success

They should have a good look on how the women cooperating within the company catfight

VS sisterhood. Are the women in high powered positions helping the women below them or

are they pulling away the ladder after themselves because they are afraid of the competition?

Do the women that reaches the higher positions being playing the game of men i.e. being

acting like men to get where they are? I don’t believe L’Oreal is struggling to keep their

women entirely because of external factors such as general French belief, their husband and

family obligations. It could also be internal how the women are treating each other and if

there is an absence of female mentors. I believe that the mentors play a significant role which

will be presented later on.

Shahrzad Haji Mirza Ali 860205-1461 BM6940 Innovation and Change Management

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Parallel example: The women dominating book and Publishing Industry

Catfight VS sisterhood

My experience of working at Bonniers Publishing (was founded in 1837 and is one of the

oldest, biggest and most respected publishing houses in Sweden) was that the few women that

actually made it to the top and became managers pulled the ladder behind them and made it

impossible for other women to climb the ladder. While men usually are cooperating women

always seem to be fighting among themselves. Fighting in a way that won’t be beneficial for

the company (i.e. negative competiveness) that will destroy its management instead and make

women resign in the end. I believe that the women that are working at L’Oreal are fighting

among themselves. Just like the Book and Publishing Industry which is also dominated by

women and is also struggling to keep their women. However my experience was that they

wanted to hire more men to benefit the company dynamic and get a better “balance”. While

L’Oreal want to hire more women but not offering them higher positions if you look at the

numbers of female board members but that could also be the “ladder theory”.

Many female bosses are neither inspiring nor amazing. Many are frustrating, competitive and

petty. When we asked members of our personal book club all women in publishing if they

enjoyed working for women, one of them shook her head and said, "I just wish I didn't have

to pretend to be her friend." This led to much discussion about the good, bad and ugly of this

female-heavy world. After informally polling acquaintances in the industry, we have

compiled a list what women in the publishing business wish female bosses including their

own knew.

'I Am Not Your Friend'

It's normal for you to create a sense of intimacy and positive rapport with your female

subordinates. After all, you're working closely for long hours in a highly stressful

environment. But don't mistake this relationship for friendship. Yes, it is great that you both

loved Brokeback Mountain, are disappointed in James Frey and are counting down the days

until summer Fridays begin again. This doesn't mean that you are friends. You are the boss

and she reports to you, so please respect that and don't ask her to go to the movies with you on

a Saturday night.

'My Voice Counts'

Unfortunately, even in our female-heavy publishing environment sexism exists: men get

heard more often than women. Even at junior levels, the men in the room seem to be treated

as though they have the more relevant comment, point of view or idea. Please, ladies-who-

lead, support the sisters. Listen to everyone; don't pause just because you hear a male voice.

Know that the women have something of equal value to contribute and give them the floor.

'Micromanaging Backfires'

Is this a strictly gender-based issue? Of course not but whether it's motivated by insecurity or

a hyper sense of devotion to detail, many of the women bosses we and our informal focus

group have worked for have a tendency to micromanage. Nothing is more debilitating than

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someone who doesn't trust you to get the job done. Looking over their shoulder, checking the

to-do lists and questioning decisions creates uninspired and resentful employees who have

zero ownership (and waning interest) over their own work.

'Tell Me What You Want'

It was common among the women we interviewed that female bosses tend to be vague about

what they need from their employees, phrasing requests as questions. "Do you think you

could write that catalogue copy this week?" or "What do you think about going to BEA this

year?" instead of "I need that catalogue copy by next Monday" and "I need you to go to

BEA." You are the boss, so own it and tell her what you want her to do.

'Let Me Get Credit for My Work'

As a junior in publishing it is very hard to be recognized by both the senior executives and the

authors. No one wants to hear that it was the fresh-faced assistant in the publicity department

who just booked the new author on the Today show. Senior management pays the experienced

publicists more money just because they can secure that type of booking, and the last thing an

author wants is to think that her campaign is being handled by a junior person. So the senior

publicist, thrilled to share good news, passes it along… as her own, turning what was once a

young-and-eager new employee into an unhappy one who spends her day scouring PW for

new employment.

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Six-week mentor program for women in Cleveland

Women executives in Cleveland are helping young female students sort out their career plans.

The mentor program pairs working women with students at Start High School. Take the case

of Anette Bovee, a 16-year-old high school student. Since joining the program, Bovee has met

one-on-one with the president of a local bank, attended a quarterly management meeting in

Cleveland and helped compute monthly financial reports. The six-week mentor program is

sponsored by YWCA and the Toledo Public Schools. "We wanted to help young women get a

first-hand look at job opportunities and the skills that they will need to succeed," says Barbara

Levison, YWCA career development director. Many of the mentors in the program have been

honored through the YWCA's Tribute to Women in Industry, a national program that

recognizes excellence among women business leaders. Mentors work with the students for

four hours each week, giving them job assignments and introducing them to other employees

in the organizations.

http://ehis.ebscohost.com/ehost/detail?sid=a836d720-bf16-4c4c-a04e-

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Finding a mentor, especially a female mentor, can be difficult for high-achieving women in

finance, according to a new report by executive search firm Korn/Ferry International. One

respondent to the Korn/Ferry survey noted that, "Lack of role models in key finance or other

highly regarded functions within a company has been my biggest challenge." Some

respondents reported hiring an executive coach to fill the mentoring role. Another frustrated

respondent said: "It seems as if men still have an easier ability to identify a mentor in a

company who can help with their career progression, e.g., promotion to the next level."

Finding mentors is important for this group because many don't expect to end their careers in

finance. "Today's executive women in finance are preparing themselves to assume larger roles

as mentors and CEOs at a time when boards and managements are more committed than ever

to considering diverse slates of candidates for top positions," states the report. As a result, the

report continues, "there will be more high-level female mentors who are able to pass along

hard-earned advice about career issues unique to female finance professionals."

What can HR do to facilitate mentoring relationships for female execs? "You can't force

mentoring," says Ellen Williams, managing director in Korn/Ferry's Stamford, Conn., office,

"so assigning mentors often doesn't work." HR can encourage it, however, by arranging

meetings "that people want to come to" she says. Planning meetings that include a social

component, for example, "where junior people have an opportunity to meet senior people and

strike up relationships," Williams says, will encourage mentoring to "develop organically."

For managers who express interest in mentoring but claim they don't have time to do it,

Williams suggests making it part of their performance evaluations. "We're all driven to some

extent by how we are paid," she says. Making mentoring a goal, as some companies do, can

ensure that it happens, she says.

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My mission with this assignment was to figure out how women can penetrate the man

dominating business world and what L’Oreal has to do to keep their women executives in the

company.

My vision is to see more high positioned women in the business world in the future and by

raising a discussion that we will overcome some of the political, culture and norm barriers.

I realize that this is not proper innovation and more about a change (and that the subject is

quite political) however it does not make it less relevant and the module is about both

innovation and change which goes hand-in-hand with each other. The complicity with gender

will not change over a night; a great parallel would be finding the meaning of life in the

philosophy world. I believe the case address an existing issue, problem/threat or can capitalize

on an opportunity. From that point of view the case is covered. But is that innovation?

Well at least it encourages a change.

Why hire more women and do their absolute best to keep them?

Because they are worth it.

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