In the summer of 2007‚ Mattel‚ the largest toymaker in the US‚ saw its sales dip sharply when it recalled its Chinese-made toys several times. The recalls also led to public hearings in the US Congress‚ which significantly affected its reputation. Like other toymakers‚ Mattel had been relocating its production abroad and outsourcing the manufacture of parts and components. In 2007‚ Mattel produced 65% of its toys in China.1 In contrast to its competitors‚ however‚ Mattel understood the importance
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Comparing and Contrasting Harvard Framework with Virtue Ethics The main thesis of Dr. Abela’s essay‚ “What is Wrong with Business?‚” is that business ethics has a major deficiency with regards to the method by which it is discussed and taught. Moreover‚ not only it is the case that business ethics suffers from just one deficiency‚ but in fact three. This thesis can be contrasted and compared with the “Ethics: A Basic Framework” (hereafter “Harvard Framework”)‚ where the author chastises management
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Nicomachean Ethics on Moral Virtue Aristotle believes that virtue‚ or excellence‚ can be distinguished into two different types. One being intellectual virtue‚ and the other being moral virtue. Aristotle encompasses intellectual virtue as being philosophical wisdom‚ understanding and practical wisdom. He considers moral virtue to be of liberality and temperance. Aristotle distinguishes between the two types using his previous argument about the irrational element. Aristotle shows that the irrational
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1 e Conduct internet research on China. Are there any possible barriers that toy manufacturers from Europe and North America will need to consider? Describe and comment on the market entry approach Mattel initiated in China. Current status? What should Mattel do now in China? Internet Research on China Population 1‚349‚585‚838 (July 2013 est.) Age structure 0-14 years: 17.2% (male 124‚773‚577/female 107‚286‚198) 15-24 years: 15.4% (male 109‚922‚192/female 98‚325‚568) 25-54 years:
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The principles surrounding ethics involve health care professionals analysing problems they face and decide if an action or practice is deemed right or wrong. Health care professionals must always ensure they work within ethical principles highlighted within their profession (HCPC‚ 2016). Virtue ethics is a frame work which focuses upon the character of the person rather than the rightness of their actions (Pozgar‚ 2010). Deontology states the rightness of something is based on actions used to reach
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the locus of right and wrong solely on the outcomes (consequences) of choosing one action/policy over other actions/policies. As such‚ it moves beyond the scope of one’s own interests and takes into account the interests of others. Normatively‚ care ethics seeks to maintain relationships by contextualizing and promoting the well-being of care-givers and care-receivers in a network of social relations. Utilitarianism is the general need and joy and agony for each one of the individuals who are concerned
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MATTEL CASE I. OVERVIEW Mattel was founded in 1945 by Elliot and Ruth Handler. The couple started out making furniture to sell out of their garage. This business was a success‚ but they wanted a new business approach to remain competitive in the fast-changing world. So‚ they turned to making toys‚ and Mattel became the world’s largest toy company‚ with a revenue of $5.8 billion and a net income of $684 million in 2010. Recently‚ the company commissioned Chinese companies to produce some
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Introduction: Principal Agents: Mattel manufacture and commercializes toys since 1945; now a day owns top brands such as Barbie‚ American Girl‚ Fisher Price‚ Hot-Wheels and Matchbox among others. In their financial for the years 2006 and 2007 they reported net sales of USD 5.6Bn and USD 5.8Bn and a net income of 592Millons and 599 respectively. Since 1959 the company had has experience manufacturing abroad; there are two types of manufacturing strategies the first are the core products (long run
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Mattel sued the band‚ saying they violated the Barbie trademark and turned Barbie into a sex object‚ referring to her as a "Blonde Bimbo."[1] They alleged the song had violated their copyrights and trademarks of Barbie‚ and that its lyrics had tarnished the reputation of their trademark and impinged on their marketing plan. Mattel also claimed that the cover packaging of the single used "Barbie pink"‚ a trademarked color owned by Mattel.[2] Aqua claimed that Mattel injected their own meanings into
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Mattel Toys Thesis: This is a rhetorical analysis of the response strategies employed by Mattel during the recall crisis. This decision would come back to haunt the toy manufacturer in the summer of 2007. Understanding how trust is built‚ support and recovery are a critical competency for any organization‚ particularly for those who take their ethical values and commitments seriously. Since an organization’s reputation is built on its trustworthiness that can take a long time and require considerable
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