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Globalization and Its Impact on the Clothing Industry



EssayChat / Dec 18, 2017

Introduction

Globalization has boosted the garment industries in the developing nations. In this report, the direct impact and the indirect impact of the globalisation on the garment industry is examined. The change in the government policies in different nations has increased the export percentage of the garments to different foreign markets. Revenue earned in the foreign exchange rates contributed to the development of the nation and created more employment opportunities.

Garment industry and globalisation

Globalisation has benefitted the garment industries, across the world. It also helped in creating a positive relationship with the economy of the developed nations like the UK, the US, Western Europe, and others. Companies have opted for privatisation, and this in fact has created more opportunities for the people to work in different challenging situations. With the privatisation of the firms, the companies agree to follow the national rules and international strategies drafted to improve the overall business activities.

Globalization IndustryThe clothes exported to the foreign nations are of the superior quality and has a great demand for the products. Garment industry has tremendously grown in the developing nations, and this is the positive factor that helped the management to handle the critical works, regarding the policy formation and its implementation. There were drastic change in the policy formation and the income tax costs, and this boosted the performances of the centres further.

Foreign companies due to the regularised policies increased the investment amount into the potential nation and this solved the issues related to the financial challenges. Higher investments plans were developed and it was integrated with the technology preferred by the companies. The availability of the skilled and the semi-skilled labours in the market were the other factors that improved the operational works for the nation. There were tremendous growth in the garment industry, and this helped in creating more employment for the people. Staffs were trained to meet the international standard requirements for the conduct of the operational works. This proved to the positive factor that assisted the management and the staffs to overcome the operational related issues.

Government played an important role in promoting the globalisation concept in the country. Rules were examined and the changes were implemented to include more staffs to work with the organisation. Industrial developmental plan were integrated with the market expansion strategies, accelerated the growth of the private garment industries. Change in the industrial policies helped in maintaining the objectives of the company, and the essential policy changes were introduced to improve the operational works and the strategies related to the same.

International standards and policies were examined to improve the performances expected from the improvement of the garment industries. Some of the developing countries that benefited from the globalisation were Bangladesh, India, and other Asian nations. International policies were regularised to encourage the members to increase the transit value required to promote the globalisation in the international market. Increase in the needs of the clients demand for the garments, the movement had introduced export processing zones that encouraged the management to improve the overall performances.

Methods

The information about the garment industrial development is examined through the primary data collection method. Garment industry managers from different countries were included in the study. Also, the managers and the staff's expectations were analysed to understand how the change in the industry improved the performances of the people. Primary data collection method allowed the managers to examine the views of the members used to examine the relevant information.

Results

The table above states the growth of the garment industries and its impact on the employment percentage. In the year 2013-14, there was a higher growth in the employment percentage for the people.

Data interpretation

It is relevant fact that the economic growth in different nations was attributing to the growth of the garment industries. Changes in the operations and financial sectors were experienced due to the change in the technology that was adopted to increase the performances.

Discussions

Globalisation increased the number of companies in the developing nations and this had a positive impact on the development of the nation. Through the globalisation, the management introduced positive changes in different sectors that helped in dealing with various business challenges. With an increase in the employment rates, the earnings of the people increased, and this had positively contributed towards the growth and the development of the people. New technology allowed the managers to examine the existing challenges that affected the growth and the development of the nations, and encouraged the management to increase the percentage of the employment.

Changes were introduced to increase the quality of the products manufactured by the companies. Different economic activities were related to the development of this industry. There was a growth in the insurance policies and the tourism sectors due to an increase in the employment percentage.

Conclusion

The intended goal was to find if the relevant exporting factors supported the growth of the garment industries in different nations. It was found that the industry was positively impacted due to the growth, and this was the important factor that is being considered for the development.

References

Bhattacharya, D, M. Rahman and A. Raihan, (2002), "Contribution of the RMG Sector to the Bangladesh Economy", CPD Occasional Paper Series, Paper 50.

McCracken, A. (2014). The beauty trade: Youth, gender, and fashion globlization. New York, New York: Oxford University Press.

Maynard, M (2004) Dress and globalisation. Manchester: Manchester University Press

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