Strategic Management in the Garment Industry
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STRATEGIC MANAGEMENT IN GARMENT INDUSTRY The dynamics of international strategy for garment industry is accelerating with development of concepts and new demands of rapid changes in the market. The whole world is seen as a potential source of production, and simultaneously as a single market of garments. The final goals should be ultimate success for those manufacturers whose products are cheaper and better than the competition. With the development of markets and increased competition , there are many fashion producers who want to sell their products and impose on the world market. Garment producers are forced to be even more initiative in the field of innovation and further reduction of operating costs . Social development has changed the lifestyle of consumers, and due to demographic changes there is an increasing number of consumers with different demands and needs, thus requiring from garment manufacturers to develop new marketing strategies and methods. Developing strategic marketing orientation is a long-term process and represents a unique form of investment. This investment involves a change of organizational culture and organizational climate in a way that the common values, expressed through the satisfaction of consumer needs and ensuring the quality in all activities, strive to be the motto of all employees. In order to sustain garment industry it is necessary to meet consumer demands concerning the quality, price and delivery time . These criteria can only be met through restructuring of existing production-business system , introducing new technologies, changes in organizational forms , i.e . finding organizational design that
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book Strategic Management in the Garment Industry
Transcript of Strategic Management in the Garment Industry
Strategic management in the garment industry
STRATEGIC MANAGEMENT IN GARMENT INDUSTRY
The dynamics of international strategy for garment industry is accelerating with development of concepts and new demands of rapid changes in the market. The whole world is seen as a potential source of production, and simultaneously as a single market of garments. The final goals should be ultimate success for those manufacturers whose products are cheaper and better than the competition.
With the development ofmarkets andincreased competition, there are manyfashionproducers whowantto sell their productsand imposeon the worldmarket.Garmentproducersare forcedto be evenmoreinitiativein the field ofinnovation and furtherreduction of operating costs.Social developmenthas changedthelifestyleof consumers, anddue todemographic changes there isan increasingnumber of consumerswith different demands andneeds,thusrequiring fromgarment manufacturersto develop new marketing strategiesand methods.Developingstrategicmarketingorientationis a long-term process andrepresents a unique form ofinvestment.This investmentinvolves a change oforganizational cultureand organizationalclimatein a waythatthe common values, expressed throughthe satisfaction ofconsumer needsand ensuring the qualityin all activities,striveto bethe mottoof all employees.Inorder to sustaingarment industryitis necessary to meetconsumer demandsconcerning thequality,price anddelivery time.Thesecriteriacan only be met throughrestructuring of existingproduction-business system, introducing new technologies, changes in organizational forms,i.e.findingorganizational designthat willenableusing allpotentialsof employeesand motivatethe entireorganization.Turbulentenvironment,as a resultof rapiddevelopment in technologyanddiversification possibilities, meetsthe increasingneedsof consumers whoseek for evenmore originaland unifiedproductsandforcesmodernmanagement todynamicadjustment ofproduction-business systems andchanges inthe environment.The survival ofgarment producersincreasinglydepends on the abilityof managementto understand andmanagechanges.A strategicchange shouldbe viewed as acontinual processthat takes placein certaincircumstances.Carrying outchangesdepends largely on thenatureof activitiesto be performedas well as theexpertise andskillsof employees.The success of agarment producerisdeterminedby hisabilityto achieve dynamicharmony with thechangingenvironment,i.e. it is aresult offlexibility(efficiency)andadaptability (effectiveness)of business.Strategy implementationand movinggarment producersin a desired directionrequiresa special kindof expertise.Formulatinga strategyrequiresan entrepreneurialfocus and emphasizesthe ability toconceptualize, analyze andweigh, whereasapplyingstrategyhas aprimarily managingfocus.Allfashion companies must,regardless of theircurrent situation, develop along-term strategy.There is nota single strategythat would beoptimal forall companies, becauseeach of them mustdeterminea strategyin accordance with its objectives,capabilities, resourcesand market position.The philosophy ofglobalmanagement approachfocuseson exploitingmarket opportunities andidentifyingopportunities foracquiringresourcesin other countries, aiming toachieve full synergyin realizingmission andgoals of a company.Organizingbusiness in the internationalmarket differs from onecompany to another anddepends primarily onthe goal sand taskssetby the company,available resources, managementand marketingstrength, competitive position, the degreeof involvementin international affairsand market attractivenessof fashionproductionandsales program.This book is the author's attempt to showadvances in business strategy in the garment industry for current and future managers in garment industry,students of textile technology, engineers and top managers in garment industry.Table of Contents:
Strategic management- Strategy- Strategic management- Vision, mission and goals
Garment industry- Garment industry- Development
Strategic marketing in garment industry- Marketing- Analyse and market segmentation- Marketing strategy- Management of retail, wholesale and logistic market- Diversification- International marketing- Internet marketing- Knowledge management and innovations
Strategic management in garment industry- Strategic business conditions- Strategic planning- PEST analysis- Portfolio analysis- Strategic control- Benchmarking- Brand strategic
Strategic methods- Strategic methods- SWOT- Scenario method- Gap analysis- Ansoff's matrix- Five Forces Analysis- The McKinsey "7-S" framework- Balanced Scorecard
Organizational behaviour- Organizational behaviour- Organization structure- Organizational culture- Motivation- Work teamsPublisher: Woodhead Publishing India Pvt. Ltd.303, Vardaan House,7/28, Ansari Road, DaryaganjNew Delhi 110002Tel:+91 (011) 43612145,91-11-23266107Email:[email protected]@woodheadpublishingindia.comwww.woodheadpublishingindia.com
