Paradigm Toys Ethical Audit

Ethical Framework for an Ethical Dilemma 6 Identification and Analysis of an Ethical Dilemma in Business Setting 6 Potential Solutions to Ethical Dilemma 6 Solutions from C2 6 D. Ethical Training Program Proposal at Paradigm Toys 7 Three Training Program Components 7 Reasons for Including the Three Components 7 Training Program Delivery Method 7 Recommendation Justification 8 Ethical Audit Introduction Ethical audits entail interviews performed on employees, customers and managers intended to identify the gaps associated with their ethical practices and policies. With increased whistleblowing in most workplaces, the amount of job-related misconducts has reduced over the years. The ethical culture in an institution is expected to be an exception if not near perfect. The report dwells on Paradigm Toys regarding their ethical audits. The business owner whether it is an individual or a group also forms the internal stakeholders.

External stakeholders External stakeholders describe people not part of the investment, but in a way get impacted by Paradigm Toys’ operations. According to Turner, and Weickgenannt, (2018), the external stakeholders include the children who act as customers or their parents who buy on their behalf. The suppliers and creditors are part of external stakeholders. The government and competitors could be external stakeholders as well. B. Importance of Ethical Leadership The Significance of an Ethical Culture Strong ethical cultures are needed in Paradigm Toys working environment in order to safeguard their assets. When the employees are treated with respect, they reciprocate the same. The staff is most likely to respect and protect the firm’s assets. The management does not require engaging in long-term phone calls to check with the staff.

The leaders must stand through their actions, ensuring accountability and transparency. Ethical Audit Ethical audits are moves intended to identify any gaps in the ethical practices and procedures within a firm. The human resource department plays a vital role in making sure policies, codes and procedures are shaped within a firm. The HR department also communicates the ethical standards to the staff. The HR team acts as the de facto when it comes to ethical compliance. Fall in stocks might be hidden from the public so that potential investors do not realize that Paradigm Toys made losses in a given period. The firm could be in a dilemma whether or not to reveal the figures as they are or keep it a secret by cooking up figures.

Potential Solutions to Ethical Dilemma The appropriate solution to whistleblowing is that firms ought to respect their employees and their opinions. Raising awareness must not elicit one’s dismissal from a firm. Paradigm Toys also requires to maintain accurate bookkeeping otherwise the truth will come out some day and the stakeholders might not want to associate with the firm anymore. Reamer, (2016) suggested that ethical goals allow the staff to know where they work towards, and compare the intended outcomes versus actual outcomes. An industrially specific set of ethical training is vital. Industries differ in terms of their ethical requirements. Reasons for Including the Three Components The three elements are key towards a training program. The foundation creates a blueprint of the purported outcome, and then the metrics allow the team to compares their efforts with the final destination.