My analysis shows that by taking the 20,000 rubber tubes off the shelves at Walmart, the Coleman Company successfully maintained its reputation and customer loyalty as it displayed to the public its determination to adhere to its ethical principles.
As Friedman asserts, the social responsibility of a business is to increase its profits within fair regulations. Hence, by recalling its rubber tubes, Coleman demonstrated that it will not deceive its customers with poor quality products in order to increase profit. Rather, by fixing and compensating for this mistake, Coleman continues to create value for the community as it follows its corporate social responsibility. It does not try to satisfy only the shareholders’ desire to gain more profit by finding cheap means of production. Conversely, Coleman also attempts to fulfil the interests of its customers, which are one of the many important stakeholders of the company, according to Freeman’s Stakeholder Theory.
Finally, it is recommendable that the Coleman Company continues to value the interest of its customers in order to gain more trust and uphold the brand’s reputation.