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Hasbro

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by

Marissa Munger

on 12 November 2014

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Transcript of Hasbro

History
Chris Fendrich
Marissa Munger
Toy Production
History
1969-1979 faced significant financial troubles
1979 Merrill passes away and Stephen becomes CEO and President
Stephen took over
1989 Stephen passed away, younger brother Alan became CEO
2008 Brian Goldner became CEO and President
1940 doctor and nurse kits for boys and girls
Lawsuits
Ethical Dilemma
Toy Production
Corporate Social Responsibility
Questions
Hasbro Present and Future
Conclusion
Is Hasbro an ethical company?
We feel they are ethical and are socially responsible.

System in place
Strong support from the upper management and apparent transparency of information
Limited recalls
Awards
Hasbro Present and Future
Amy Knight, Director of Corporate Social Responsibility
By 2020
Reduce landfill waste by 50%
Reduce energy consumption by 25%
Reduce greenhouse gas emissions by 20%
No recalls since 2008
Lead Paint issue – Hasbro was the only toy company not using lead paint and even was called to testify to regulators in regards to best practices.

Hasbro Present and Future
Letters to Hasbro
Sent a letter to the General Counsel, Barbara Finigan, and the President and CEO, Brian Goldner

Hasbro Present and Future
Corporate Code of Conduct
Will my actions be ethical in every respect?
Will my actions fully comply with the law and Hasbro's policies?
Will my actions be questioned by my supervisors, associates, clients, family and the general public?
How would I feel if my actions were reported in the newspaper?
How would I feel if another employee, competitor, customer or vendor acted in the same way?
Will my actions have the appearance of impropriety?

*Corporate Code of Conduct
* Corporate Social Responsibility dept.
*Transparency of information
*Upper Management buy-in
*Upper Management buy-in
Response from Amy Knight, Hasbro's
Director of Corporate Responsibility

Website will be updated in next few
months

Deep analysis of the Corporate Code of Conduct, revision will be released in 2015 with training and a re-commitment to the process from all employees

Expansion internationally will need to review Hasbro’s CSR in different countries
Playskool Travel-Lite Portable Crib

Ethical Dilemma
Background
Kolcraft Enterprises -Started in 1942 in Chicago, Il – high chairs and bassinets
1980 – expanded to car seats and playpens
Became the 7th largest manufacturer of juvenile products (significantly smaller
than Hasbro’s Playskool and Mattel’s Fisher-Price)
Changes in market late 1980's
Imported products included a portable crib

Background

Kolcraft Enterprises engineered a portable crib
Heavier than originally planned
Received high praise from upper management and from buyers at trade shows
Issues
Kolcraft fixed locking mechanism
Did not fix the weight

Background
Distribution
Kolcraft negotiated a contract with Playskool to license the product and to properly distribute the crib
Allowed Hasbro to concentrate on their main business
Stipulation in the contract for a test plan
Hasbro requested documentation from Kolcraft
Kolcraft stated they took all reasonable measures
Hasbro relied on Kolcraft for the testing

Background
Distribution
In 1990, product was mass produced and went to market
Sold at large retailers including Wal-Mart and Toys-R-Us
Did not sell very well
Shipments were stopped in
April of 1992
.
Produced 11,600

Deaths
July 3 1991 – 11 mo old died of strangulation
Consumer Product Safety Commission (CPSC)
investigated the first death and sent a report to Hasbro (forwarded to Kolcraft)
Kolcraft response - the crib was not defective in any way

Nov. 30, 1992 – 9 mo old died
Jan 5,1993 – 10 mo old died

Feb 1, 1993 – CPSC sent a letter to Hasbro, requesting information (forwarded to Kolcraft)

Deaths
Feb 18, 1993 – Kolcraft reponse
Contact retailers through a letter and small poster -
Approved by Hasbro on Feb 19, 1993

Feb 24, 1993 – CPSC admonishes Kolcraft and Hasbro – letters shortcoming and no CPSC review

March 10, 1993 – CPSC issued a recall of the product

March 19, 1993 – Kolcraft executive wrote a memo that stated testing had been done. Unable to produce any records.

Deaths
July 12, 1995 – 10 mo old died
June 1996 – CPSC closed its case based on returns and no further injuries
Only 2,736 of the 11,600 were accounted for
May 12, 1998 – 16 mo old
Daniel Keysar
died
Aug 19, 1998 – 10 mo old died

Results
Hasbro and Kolcraft settled confidentially out of court with many of the families except for one, Daniel Keysar’s
Boaz Keysar & Linda Ginzel were paid $3 million dollars out of court
Keysar’s Attorney stated "
Kolcraft halfheartedly recalled the portable crib in 1993; however, the efforts of the company turned up less than 25% of the 11,600 portable cribs it sold. Despite knowledge that thousands of portable cribs remained in people's homes, the defendants, through confidential settlements, restrained victim's families from publicizing the problems with the portable cribs. This is the first public settlement where the defendants were prevented from keeping the settlement terms secret and confidential
."

Results
Boaz Keysar stated "
Hasbro and Kolcraft are responsible for our son's death. They had a duty to test the crib before selling it, and an ethical and moral obligation to warn the public once the crib had proven deadly. They abandoned their ethical and legal obligations. How could we accept that such egregious corporate behavior be kept confidential?“

Our thoughts:

Corporate ethical issues
Individual ethical issue
Systemic ethical issue



1923 founded by Henry and Hillel Hassenfeld
Originally called Hassenfeld Brothers
1943 Hillel passes away and Henry is CEO and son Merrill becomes President
1960 Henry passes away and Merrill becomes CEO, son Stephen becomes President
1952 Mr. Potato Head doll

1954 became Disney licensee

1964 G.I. Joe Action Figure

1969 redesign of G.I. Joe action figure
and purchased Romper Room

1970 opened Romper Room Nursery
1970 licensee of Peanut cartoon
1970 Javelin Dart and Hypo-Squirt
1982 revival of G.I. action figure
My Little Pony line
1984 Transformers released
1986 Gem doll
1991 purchase TONKA Corp and Parker and Brothers
1994 merger of Hasbro Toy, Playskool, Playskool Baby, Keener, and Kid Dimensions
1995 Interactive CD-ROM games
1985 Transformers patent infringement
Early 2000's to Present
2008 buys Cranium
2010 collaborate with Disney on Hub Network
Oct. 2014 re -branded to Disney Family
Sept. 2014 wins Disney Frozen licensee
Commitment to successful portfolios
Partnerships help evolve into entertainment company
2003 'Ghettopoly' suit
2008 and Scrabble
2010 Nerf patent infringement
Keysar's response:

“You said you got your initial impression from Hasbro's web site, and I was happy to see that you are still skeptical. In my opinion a company's web site is not a reliable source for what actually goes on in the company, and should not be a source for evaluating how ethical it is. The web site is a marketing tool, so its goal is to sell products and to present the most positive image it can. Though this is a natural thing to do, we should remind ourselves that it is not a source of information. The only worth-while sources would be independent of the company. I urge you to ignore what they say and to look at what they do.”

"Nightmare on Sesame Street"
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