Preview

Case 1

Good Essays
Open Document
Open Document
264 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Case 1
For this assignment I will analyze the Mattel case and discuss the actions and behaviors of the company in conjunction with the Global Manufacturing Process (GMP) that was implemented. Within the discussion I will identify three virtues of Honesty, Integrity, and courage that should have been used more appropriately to guide the actions, behaviors, and policies of Mattel Inc. I will conclude by considering the normative ethical theories deontological, utilitarian, and virtue ethics. GMP Mattel’s concept of GMP was not a novel concept. The many forms of GMP including International Organization for Standardization (ISO) and GMP have been around for decades and have worked to insure that specific industries are upheld to a industry wide standard. ISO’s model is “Say what you do, and do what you say”. When a company endeavors to become ISO qualified, it is required to document every activity as a standard operating procedure (SOP) that occurs within the company and will work without any deviation. Another important aspect of ISO qualified companies is they are subject to audit by other ISO registered companies initially audited by four such companies in order to acquire certification.
So what went wrong with Mattel? According to the authors the company created a voluntary code of conduct, implemented it, and ultimately abandoned it over a period of approximately nine years (Sethi, Veral, Shapiro, Emelianova, 2010). The code was supposed to cover and handle issue like wages and hours, child labor, safety, product quality, etc. The virtues of Honesty, Integrity, and courage could have played a vital role in guiding the behaviors and policies

You May Also Find These Documents Helpful

  • Powerful Essays

    Case1

    • 6497 Words
    • 26 Pages

    University of Arizona Accounting 554 Case #1: Dow Chemical Company Goals: • • • Become familiar with a set of financial statements including auditor opinion and significant accounting policy footnote, Perform basic analysis and interpretation of the financial statements, including common size analysis, Recognize the role of estimates in the measurement of financial statement amounts.…

    • 6497 Words
    • 26 Pages
    Powerful Essays
  • Good Essays

    Case 4

    • 263 Words
    • 2 Pages

    Case 4: Aaron Jones, CPA, is auditing the current year’s financial statements of Low Company, a publicly traded company. Aaron notices some major fluctuations in Low’s fourth quarter of the previous year’s financial statement balances. He is aware that security holders of publicly traded company stock that does not separately report fourth quarter results often “impute” such results by subtracting data based on third quarter interim balances from the year-end balances. Thus, companies should report such significant events as disposals of segments and other unusual items for that quarter as a note to the annual financial statements. Aaron notices that Low makes such disclosures, but is unsure if his firm should audit these additional, supplementary disclosures.…

    • 263 Words
    • 2 Pages
    Good Essays
  • Satisfactory Essays

    Case 1

    • 593 Words
    • 3 Pages

    I felt the case discussion and summary was well done. It included the majority of the essential components of the case and the facts were summarized in a very organized fashion. The one item I did not find in the summary and the discussion is the final results of the case. After reading the summary it would have been helpful to include a summary of findings from the 600 page audit committee report submitted to the SEC . I would have also like to have known more about the BDO circumstances and charges they faced as the blame centered on them initially (Accounting Today, 1993)…

    • 593 Words
    • 3 Pages
    Satisfactory Essays
  • Good Essays

    Case 1

    • 961 Words
    • 3 Pages

    1. Arthur Young was criticized for not encouraging Lincoln to invoke the substance-over-form principle when accounting for its large real estate transactions. Briefly describe the substance over form concept and exactly what it requires. What responsibility, if any, do auditors have when a client violates this principle?…

    • 961 Words
    • 3 Pages
    Good Essays
  • Satisfactory Essays

    Case 1

    • 2168 Words
    • 9 Pages

    A. The future value of a $10,000 CD that has a maturity of 1 year at maturity with 10% interest is $11,000. Financial Calculator Inputs: $ -10,000=PV, 1=N, I=10, FV=? ($11,000)…

    • 2168 Words
    • 9 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Case2

    • 548 Words
    • 3 Pages

    Julie was very excellent, who had finished office administration course in Toronto and had plentiful experiences working for several large organizations and she had got a certificate in information technology lately, then she is good at computer skills.…

    • 548 Words
    • 3 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Case 1

    • 852 Words
    • 3 Pages

    1. Using the Simple Sheet, what happens when Allegro cuts advertising and selling effort to 0$ and raises price to $500/unit? Comment.…

    • 852 Words
    • 3 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Case 3

    • 296 Words
    • 1 Page

    TASER International Inc. is one of the largest distributors within the security defense manufacturers. Their main product is the taser; often used by your local police and security guards. TASER’s 2010 performance declined dramatically from 2009, a decrease of 17% in sales alone. They argue that they had fewer international and federal orders, plus economic conditions.…

    • 296 Words
    • 1 Page
    Satisfactory Essays
  • Powerful Essays

    Case 2

    • 2710 Words
    • 11 Pages

    The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, enacted by the Obama administration in the United States, is perhaps the most ambitious and far-reaching overhaul of financial…

    • 2710 Words
    • 11 Pages
    Powerful Essays
  • Powerful Essays

    Case 1-2

    • 1709 Words
    • 7 Pages

    Current Liabilities – long term (mortgage payable) Short term (1 year) ex. A/P, N/P, Wages Payable, Rent Chapter 2 Money Measurement – Everything measured in terms of $ and cents (common denominator)…

    • 1709 Words
    • 7 Pages
    Powerful Essays
  • Better Essays

    Describe key areas of the selected company’s code of conduct that are of significant importance to the business, and explain why.…

    • 1098 Words
    • 4 Pages
    Better Essays
  • Satisfactory Essays

    Case 1

    • 274 Words
    • 1 Page

    1. Is Parker's speech development appropriate for his age? Explain? His speech is not developmentally appropriate because children that are nearing 2 years of age should be able to speak up to 50 words and be somewhat understandable on all words.…

    • 274 Words
    • 1 Page
    Satisfactory Essays
  • Better Essays

    Analyze the manner in which Zappos’ leadership has fostered a culture of ethicalness in the company. Suggest two (2) actions that other companies can take in order to mimic this culture.…

    • 986 Words
    • 4 Pages
    Better Essays
  • Satisfactory Essays

    Case 5

    • 439 Words
    • 2 Pages

    9. What is your appraisal of Blockbuster’s performance as shown in case Exhibit 5? What pluses and minuses do you see? Use the financial ratios in Table 4.1 of Chapter 4 as a guide in doing the calculations needed to arrive at an analysis-based answer to your assessment of Blockbuster’s recent performance.…

    • 439 Words
    • 2 Pages
    Satisfactory Essays
  • Powerful Essays

    Beliefs, morals, virtue, and ethics; what is it that drives us in the way we run our personnel and professional lives? Where do this measure in the way we run a business? In this paper we will discuss the ways these traits influence our direction in which one company has looked at different ethical issues and some examples of how to implement such a code. We are going to dive into some of General Electric’s ethical decision making and the pros and cons of those decisions, but also in business in general as well. When I asked a group of colleagues from different levels of my company, I saw that there were many different opinions on how to handle certain situations and you will see this throughout the selected cases of GE. Using a written code of ethics in business can help companies develop a positive perception with consumers. The ability to educate consumers on how the company chooses to operate can go a long way in creating customer goodwill.…

    • 1901 Words
    • 8 Pages
    Powerful Essays