Prepared under the auspices of the National Business Council for Consumer Affairs by its Sub-Council on Product Safety, this report is part of a program to advise the federal government on voluntary activities by the business community which would help consumers. Contents include analysis, conclusions and recommendations relating to manufacturers, retailers, voluntary standards organizations, product testing laboratories, trade associations, and government under the topics of (1) The Manufacturer's Role, (2) Product Safety Standards, (3) The Retailer's Role; and (4) Public Safety Awareness. Particular emphasis is given to those private sector activities which relate to effective operation of the new Consumer Product Safety Commission established by the Consumer Product Safety Act enacted by the Congress late in 1972. The text of the act is provided in the appendix. The 14 recommendations presented throughout this report relate to those actions concerning product safety which ought to be considered by all parts of the economy, particularly the corporate sector. (WL)