Question

Describe the the competitive advantage in the GARMENT sector of Bangladesh and the approaches which needs to taken by the HUMAN RESOURCE MANAGEMENT to maintain the competitive advantages of GARMENTS sectors of Bangladesh.


PS : I need to know about these information for garment sector of Bangladesh to prepare myself for an upcoming exam. There isn't any case.

Answer 1

Garment industry and Bangladesh enjoy a special relationship and often taken synonymous with each other. The competitive advantage enjoyed by Bangladesh in the Garment sector is unparalleled because of the following factors:

• There is a huge influx of garment companies because labour is cheap and with so many people willing to work on meagre amount wages makes the industry profitable.
• People of Bangladesh have for ages been associated with this industry and they are able to produce with such perfection and quality gives it a competitive advantage over rival countries like India and Pakistan.
• Bangladesh being a cotton-producing country makes foreign players invest in this sector because of the abundant supply of factor or raw materials.
• Government and institutional support in terms of tax holidays, creation Export Processing Zones, Concessional loans, export development funds and relaxed FDI restrictions are giving the garment industry in Bangladesh a competitive advantage.

What needs to be done by Human resources to sustain this competitive advantage:

1. Leverage from technology and going beyond the traditional means of production.
2. Make attractive wages and salaries the order of the day without exploiting the workers.
3. Improve the working conditions so as to avoid any dissatisfaction from the workers and keep them motivated.
4. Make the process of production sustainable by taking into account all the stakeholders involved in the process.
5. Open up the industry and going beyond the structural bureaucratic regime and red-carpetism so as to invite more and more foreign direct investment.
6. Innovate, Innovate and innovate in the garment industry in whatever arena so as to be more agile and efficient in the process.