Mattel Toy Recalls
MG327
Marketing and Society
Mattel and the Toy Recalls
Q1. Who are Mattel’s stakeholders? Who did Mattel cater to in the recall? What are the long-term implications of the stakeholder approach the company adopted?
Stakeholders are the people, groups or organisations that have a direct or indirect stake in an organisation and can be affected by the organization's actions, objectives, and policies. Key stakeholders in a business include, customers, employees, shareholders, government, suppliers, and the community and society in which the business operates.
Mattel’s key stakeholders include it’s customers, employees, retailers, shareholders, suppliers, both the American and Chinese Government, The Consumer Product safety Commission (CPSC) and licensors such as Disney and Sesame Workshop. These are the main parties that have a stake in the organisation and who are affected by the companies actions.
In the recall, Mattel catered to some of it’s stakeholders.
Whether timely enough or not, Mattel catered to it’s customers in the recall. By making the recall and releasing a statement explaining the procedure, they risked their reputation at the stake of their customers safety. I believe that they also catered to the Consumer Product safety Commission who I assume would have enforced the recall had they not co-operated. I believe that they also catered to some of their other stakeholders in the recall such as the owners and shareholders and employees. While the implications of the recall may have negative effects on these parties in the short run perhaps they felt that they were minimising these implications in the long run by acting when they did. Had they waited any longer or been forced to make the recall the reputational implications may have been worse.
The stakeholder approach believes that managers should take into account the views of all the organisations stakeholders and not just the shareholders when making decisions. The hope is that by doing
Marketing and Society
Mattel and the Toy Recalls
Q1. Who are Mattel’s stakeholders? Who did Mattel cater to in the recall? What are the long-term implications of the stakeholder approach the company adopted?
Stakeholders are the people, groups or organisations that have a direct or indirect stake in an organisation and can be affected by the organization's actions, objectives, and policies. Key stakeholders in a business include, customers, employees, shareholders, government, suppliers, and the community and society in which the business operates.
Mattel’s key stakeholders include it’s customers, employees, retailers, shareholders, suppliers, both the American and Chinese Government, The Consumer Product safety Commission (CPSC) and licensors such as Disney and Sesame Workshop. These are the main parties that have a stake in the organisation and who are affected by the companies actions.
In the recall, Mattel catered to some of it’s stakeholders.
Whether timely enough or not, Mattel catered to it’s customers in the recall. By making the recall and releasing a statement explaining the procedure, they risked their reputation at the stake of their customers safety. I believe that they also catered to the Consumer Product safety Commission who I assume would have enforced the recall had they not co-operated. I believe that they also catered to some of their other stakeholders in the recall such as the owners and shareholders and employees. While the implications of the recall may have negative effects on these parties in the short run perhaps they felt that they were minimising these implications in the long run by acting when they did. Had they waited any longer or been forced to make the recall the reputational implications may have been worse.
The stakeholder approach believes that managers should take into account the views of all the organisations stakeholders and not just the shareholders when making decisions. The hope is that by doing