bgs final report_ foreign bride agencies

This can act as a consumer watchdog to ensure that

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: , to protect the interest of the consumers, the government can also insist that companies need to be accredited with CASETRUST. This can act as a consumer watchdog to ensure that the companies follow a set of rules and regulations. This will help safeguard the client’s interests and clamp down on the unethical practices. Lastly, an association to keep individual institutions in check can be established. Medical institutions, for example, account to the Singapore Medical Association. This association is formed by all the medical institutions in Singapore. It helps to regulate the industry, and will try to solve problems in the industry on its own. If any of the companies is not following the set of rules and regulations that are being set up, it will have to face the head of the association for punishments. In the case of the foreign bride industry, agencies can also be set up to regulate all the companies in the industry. This will be easier to detect any unethical companies as they are in the same industry. With the above four methods proposed, this paper hopes that it will help solve some of the unethical problems in the foreign brides industry. Individual Stands Coming from Myanmar where the groom pays a lump sum of money even in naturally induced marriage, Sai Sai feels it is acceptable for a paid marriage arrangement as long as both parties are willing and happy. Chong Jin thinks that the line that defines ethics is thin. However, that is no excuse for the employment of unethical practices. All in all, businesses should function with integrity. Thus, marriage agencies must commit to ensure happy and everlasting marriages. Mervyn regards Mr Aaron Feuerstein, CEO of Maiden Mill, as the authority to model after. Being responsible to various stakeholders ultimately reaps fortune and good reputation for the company. This too can be applied to marriage agencies. Songjie feels that businesses can survive and be ethical at the same time. Like the TV series ‘Survivor’, in the 3rd season, the winner, Ethan, won without compromising on his principles and also without backstabbing. However, it is definitely not easy. It has to be done strategically and involves lots of hard work. Zhicheng feels that in order to survival in business and that it is how far each individual will go to do their business. Whether their practice is accepted, depends on the society standards and views. Conclusion On the whole, the foreign bride agency industry has many grey areas in which ethical standards are compromised. Many of the firms are still misled by the ultimate goal of attaining supernormal profits, ignoring the stakeholders’ concerns as a result. The business is currently not tightly regulated and enjoys much freedom in choosing between profits and ethics. However, companies need not be unethical in order to survive as in the case of Mr. Cupid and Lifepartner. Looking at the bigger picture and taking into consideration the viability of this industry in the long-run, greater emphasis s...
View Full Document

This document was uploaded on 01/14/2014.

Ask a homework question - tutors are online