In: Accounting
Question: Consider a social force, which can be threat for your garments business. Discuss in detail how will you avoid this threat to save your business by using your strength(s)
Answer:
Social force- Social forces are related to society. It is the change that few or more people bring in the society. Social forces affect the business, Customers' demand, wants, taste, buying habits keep on changing. They adapt the current fashion and trends so the old outfit/dress will get outdated.
Social forces for garment business- Change in one of these following is the threat for garment business:
How to avoid this threat- To avoid the social forces threat, company that is into garment business, should keep doing the market research and survey to know the current taste and choice of the people. Company should know about the current demand and wants of customers and accordingly make the dresses. Company should adapt new technology, trend and fashion to make its garments more salable.
Company can sell its old and outdated stock at cheaper price (at discount). Company can also recycle some old clothes, fabric etc. and turn them into the new fashion.