Overview of Mattel
1809 words 8 pagesMattel by Felicia Martinez
Overview It is hard not to think of Mattel when one thinks of toy manufacturers. After all, in 1959 when Mattel introduced their product the Barbie doll they became the forefront of the toy industry and have not backed down from that position since. Before they became the toy industry giant they are today Mattel simply started in a garage workshop in Southern California by entrepreneurs Ruth Handler, Elliot Handler, and Harold Matson. Harold Matson soon sold his share of the company and the Handlers took full control (Patten, 2008). Despite the fact that their success was gained by the manufacturing and distribution of toys, Mattel started out producing picture frames. It was when Elliot Handler started …show more content…
We also enrich the lives of Mattel employees by identifying diverse volunteer opportunities and supporting their personal contributions through the matching gifts program (Fortune 500 Mission Statements, n.d.).” A company’s mission statement communicates to its employees, shareholders, consumers, and to the general public the purpose of their company’s existence. While the obvious purpose of the company is to make a profit it is important that the company’s mission statement resonates with the public and motivates people to do business with them. Highlighting the values of the company in their mission statement can be very beneficial for the company’s image. An ideal mission statement should motivate employees while reassuring consumers that they are supporting a good company.
Mattel’s Competition Although Mattel is the leader of the toy industry it is not without competitors. The toy manufacturing company Hasbro is Mattel’s number one competition. Hasbro produces the classic G.I. Joe, Play-Doh, Tonka Toys, Mr. Potato Head, Nerf balls, and My Little Pony toys. Similar to Mattel, Hasbro produces board games such as Scrabble, Candy Land, and Monopoly to name a few. Hasbro also produces the widely popular card game Magic: The Gathering (Hasbro, n.d.). Financial analysts theorize that the reason