Readymade Garments Industry of Bangladesh Essay
1.1 Background of the study
The readymade garments (RMG) industry of Bangladesh is the fastest growing export oriented industry of the country. Starting in late seventies, the ready made garment industry of Bangladesh now accounts for over 64% of the country's total export earning.
A close look at the composition of RMG export of Bangladesh over the last two decades reveals that the woven garments sub-sector constituted the lion's share. In fact, the beginning of the development of RMG sector started with woven garments in 1985. In the first half the 90s, the share of woven garments was above 80%. However, the share gradually started to decline to about 70% in five years late and to 62% in 2004 and to 38.80% in 2005-2006 (Export Promotion Bureau Bangladesh, 2006). In addition, compared to its double-digit growth in the 90s, the woven garments export grew only about 8% in 2000. Such a declining growth rate and a steep decline of the share of woven garments export in the total RMG export makes it urgent to re-evaluate the status of the sector of Bangladesh vis-à-vis with that of the competing countries. Moreover, with the dominance of the proponents of free market economy, some changes are taking place in the global trade regulations affecting the readymade garments sector of Bangladesh in general. One example of such change is the phasing out of the apparel quota on December 31, 2004.
Under these circumstances, it is imperative to assess the competitiveness of the woven garments sector of Bangladesh in the global market place. Hence the researcher studied the overall woven garment industry in group and this study analyzes the woven garments industry competitiveness of a single organization from strategic management perspectives.
1.2 Rational of the Study
The objectives of the enterprise analysis are the following.
• To identify the vision, mission, objectives, and values of the company.
• To identify the process of crafting and executive