A Life Cycle Analysis Of Mattel, Inc.

1548 WordsJan 21, 20177 Pages
Introduction The purpose of this paper is to discuss how the virtues Loyalty, Integrity and Fairness applies to the Mattel, Inc. case study. This case study was analyzed in the article “Mattel, Inc.: Global manufacturing principles (GMP) - A life-cycle analysis of a company-based code of conduct in the toy industry” written by Sethi, Veral, Shapiro, & Emelianova, 2011). The Mattel corporation is a titan in the toy industry with significance influence regarding the industry standards of conduct. Ethics is the element that supposed to provide with moral principles that guides us in our decision making as we attempt to achieve the greatest good for the greatest number. Virtue ethics assumes that what is moral in a given situation is not…show more content…
Given such a turbulent business environment, building relationships with important stakeholders is crucial to a firm’s well-being. Both customers and employees are major concerns for firms that want to develop loyalty and competitive advantages. The challenge for long-run success in business is to continually increase the customer’s dependence on the company to provide products in an environment of mutual respect and perceived fairness. Creating mutually beneficial exchange relationship with customers mean that both parties work together to understand needs and develop trust. Normally when we think of loyalty we do not separate it from our personal and professional lives because we see loyalty as a part of who we are as a person. According to (Woodruff, P., Parker, J., & Levinson, V., 2013) there is a type of loyalty referred to as “professional loyalty.” This is the type of loyalty that doctors owe to their patient or a lawyer owe to their client. Their professions require loyalty to their clients but they are also required to conduct themselves by a sworn code of ethics. This is also true of many other professions such as accountants and engineers. In the Mattel case even though the multinational corporations codes of conduct were voluntary. It would have been in the best interest of not only the company but the entire toy industry if Mattel would have remained loyal to doing the right thing simply because doing the right thing was the right thing to do.

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