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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
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...
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This document was uploaded on 01/14/2014.
- Winter '14