During her three year reign as CEO stock prices dropped 60 percent. The Matter company in based in the United States but is a multinational company.
Given this fact not all manufactures based in other countries have adhered to Mantel's high standards. This has led to claims of unsafe products and recalls of certain toys containing lead paint and parts which could possibly come loose posing a choking hazard. Included in those choking hazards, a magnet, that could lead to fatal complications if swallowed. These problems led to over 21 million recalls and several lawsuits.Just as any successful company Mantel's goal is to satisfy their customer's needs and deliver products that those customers will purchase.
Matter attempts to do so but has at times missed the mark regarding the ever changing demands of its customers. Many children in today's culture have become much more interested in electronic toys instead of traditional toys. The case study gives a great example of this when it states that even though Barbie is the standard its popularity has declined over the years. Many young customers are interested in movies, internet, and music more so than a traditional toy such as a doll.Matter must continue to keep a close eye on product development and customer's needs and desires.
Just as important as product development is social and corporate responsibility. Having a strong product is merely not Just enough in today's global market. Just as in any other business, customers expect corporate and social responsibility. Technology can present many problems and at the top of that list is customer privacy.
Matter understands the potential pitfalls that accompany the ever changing technology that companies must use to be competitive and has taking steps o grow its commitment to customers and ethics.Matter made a commitment to ethics in 1997 completing a ethics audit of every manufacturing location including major contractors. Several contract locations where found to be in defilement of safety and human rights guidelines. Matter took a proactive stance directing these locations to change their ways or risk losing contracts. Matter conducts audits every three years to insure their standards are maintained.
Matter actions suggest that the company is committed to ethical conduct of employees and contractors. Matter put onto practice a code of conduct and as we all know actions are stronger than words.The business associates of the company must continue to hold the highest standard concerning product safety. Matter insist on access to all production sites, access to all records to ensure compliance, and paper work annually signed by officers to verify compliance. Matter must continue to follow through on the steady improvement that has been demonstrated in recent years.
In certain circumstances Mantel's expectations are not met. Matter must ensure that these problems are rectified. Matter has proven it has what it takes to overcome the many obstacles large companies face.
