Ch. 3 - Ethics & Social Responsibility

Chapter 3 discusses Ethics and Social Responsibility. Code of Ethics are used by companies to assist members, internally or externally, in understanding the difference between right or wrong based upon values, religion and ethnicity at the same time complying with the law.

Luxottica has created a Code of Ethics for employees and for the public to see posted on their website. See Here . They created a 12 page code of ethics that covers the basic principles for how they want to be seen and act as a company internally and publicly. It was recently revised in February of 2013.

On page 1 of the Luxottica Code of Ethics it states, “All of the Luxottica Group's activities must be carried out in accordance with the law, within a framework of fair competition, with honesty, integrity, propriety and good faith and in observance of the legitimate interests of its customers, employees, trading and financial partners and the communities in which the Luxottica Group is present with its activities.” The code of ethics seeks to ensure that propriety, fairness, integrity, loyalty and professional rigor guide transactions, conduct and the way of doing business both in dealings in internal and external parties.

A Code of Ethics is great, but is it enough? Social responsibility is a businesses concern for societies welfare. A code of ethics is generally how the company is seen dealing with the morals and values more specifically on an internal view point but how important is it to the people that a company takes on the role to enriching the environment in various ways in which it operates? Social Responsibility is important and Luxottica knows it. On their Who Are We page, a page in which Luxottica describes themselves as a company, they give light to the importance of being conscious of the environment in which their huge business operates in. “Luxottica's special relationship with its local environment makes us particularly sensitive to environmental issues. As a market leader, we believe we have a responsibility- and a unique opportunity- to demonstrate how business can thrive by demonstration respect and stewardship of the environment in which it operates.” Luxottica in recent years has put forth a dedication to decrease their footprints of negative effects on the environment. They proudly state that they are continuing their commitment to promote sustainable business practice to achieving positive economic results that comply with quality, safety and the environment. Such steps they have taken have been to reduce waste, recycle, and use less materials for packaging.

Luxottica has received a ISO 14001 certification, the purpose of facilitating an achievement of environmental protection objectives through adoption of a recognized and certified system, in all of their Italian plants.

In addition, Luxottica also operates and owns the OneSight foundation in which they opened 8 global eyewear recycling centers. Annually, they recycle 2 million pairs of eyewear. Founded in 1988, OneSight has helped more than 8 million people globally to provide vision care and eyewear. The OneSight Research Foundation has also granted more than 7 million dollars to cover optical research and education expenses. Being the powerhouse that they are in the eyewear industry they are certainly making it seem like they are doing a lot to give back to the people who need it most. This is Luxottica's ethical responsibility as they are doing what seems right and fair.