Running head: MANAGEMENT MANAGEMENT Nam of the student Name of the university Author note 1 MANAGEMENT Table of contents Question 1………………. …
Running head: MANAGEMENT MANAGEMENT Nam of the student Name of the university Author note 1 MANAGEMENT Table of contents Question 1………………………………………………………………………………………………………………………. 2 Question 2………………………………………………………………………………………………………………………. 2 Question 3:……………………………………………………………………………………………………………………… 4 2 MANAGEMENT Question 1 Covid-19 pandemic has introduced drastic impact on the garment industry. Due to the influence of covid-19 on garment industry Fabulous fits, large orders of the company has got cancelled due to the delay in production and shipment. Due to the extreme situation within the organization, suppliers are the only stakeholders who got payment form the company after the orders have got delivered to Australia. However, depending on the organization, large numbers of companies have started the production and due to delay in Information sharing, Garmentz International is the important stakeholder, who got avoided buy Fabulous fits. Clearance of existing stock will be the immediate initiative that can help Fabulous fits to avoid the market complexity. In order to provide remedy to Garments International and the Garmentz International employees, significant focus towards providing the non monetary benefit in immediate basis such as health Insurance, personal mediclaim, free vaccination and other services can be included in order to avoid the employee dissatisfaction. Due to the raising voice of the employees against the organization is not only impacting on the brand image of the organization but also it is negatively influencing the relationship between Fabulous Fits and Garmentz. International in this situation, immediate focus towards ensuring clearance of payment has become necessary for the organization in order to maintain its brand value and relationship with the suppliers. Question 2 Following the major concern associated with Fabulous fit, it has been found that due to the drastic impact of covid-19 the company has faced major issue to continue its business operation. As its impact, sudden changes in the decision has been made by the company. Due to these 3 MANAGEMENT strategic changes not only the company has got suffered but also the entire supplier team has faced the impact. In order to understand the role and responsibilities of Fabulous fit in this particular situation, it is important for the organization to focus on considering the employment standard and providing the employee rights in order to avoid losing the stakeholders. Ethical issue has been considered as an important function associated with the employee management system within the organization. Lack of proper initiative towards maintaining the socio- economic standard in the employee management system has elected to the ethical practices followed by the organization during the covid-19 pandemic situation. After the order cancellation process the organization has awarded to provide the payment to the stakeholders, as its impact not only the employee management standards within the organization has got affected but also it has negatively deflected the unethical corporate approach. Maintaining ethical behavior in the business practice is quite necessary in order to maintain the transparency in business model. However, in consideration of the contribution made by Fabulous Fits, it has been found that lack of proper information sharing initiative between the stakeholders and the organization, before making any discussion with the CSR manager, the Sourcing manager has cancelled all the orders those were in production. Due to lack of transparency in information sharing process, the company has been represented in a negative manner to the stakeholders. Therefore, in initial stage, focusing on addressing communication gap and transparency issue between the suppliers and the company representative will be necessary to address the concern. However, in actual scenario, the company has not made any effort to deal with the situation. In the media release, ithas been found that the CEO was not able to answer the concerning situation that has been highlighted by the press. 4 MANAGEMENT Question 3: Change is being considered as an integral part of current business management process (Priskila and Darma 2020 ). After the introduction of covid-19 pandemic major transformation has been seen in the operational environment of Fabulous fit. The impact of covid-19 has created nationwide lockdown, which has made amajor impact on the fashion sales in both Australian and global market. Due to the collapse of garment industry, Fabulous Fits has made quick decision to save the organizational profit. The organization has decided to only pay the suppliers after getting the order delivered. As its impact the sourcing manager has been asked to cancel all the current orders from the production unit. In this situation, the production team called Garmentz International and the employee within the organization has faced major threat. Due to payment issue in the process, the production you need has got collapsed. After the incident, when the incident has got exposed on different media platforms, in that situation it become necessary for the organization to focus on introducing immediate remedy to deal with the situation. Establishment of global value chain In the post covid-19 pandemic situation is establishment of global value chain can be necessary for the company to avoid unwanted error in the business operation (Priskila and Darma 2020 ). The Global value chain can help in making the international production investment and trade related activities more organized, where in different stages of production processes that company can motivate the stakeholders to restructure their operation in order to outsource the products. In this organization addressing the challenges in future the Global value chain system can help in improving the international production sharing process where involving the activities and tasks from different countries, the organization can ensure the large scale extension (McCarthy, Soundararajan and Taylor 2019 ). It can ensure clear marketing, distribution and support towards 5 MANAGEMENT addressing the stakeholder needs. Rather than limiting the operation in Australian market, utilizing the E-Commerce business environment more focus towards internationalization can help the organization to successfully deal with the challenge. Due to limited target market and business restrictions, the organization had taken the decision, which has negatively impacted on the stakeholders. Therefore rather than only focusing on the Australian market, business expansion strategy can help in reducing the cost of operation and the company can successful avoid the challenges faced in the Australian market. Establishment of the employment standard following ethical measured Establishment of the employment standard will be an important strategic approach for Fabulous fits in terms of avoiding the unnecessary labor harassment (Ethicaltrade.org 2022 ). Appropriate initiative towards managing the human rights can be defined as an important considerable area that can help the organization to avoid unwanted situation in future (McCarthy, Soundararajan and Taylor 2019 ). Depending on the effective communication the regulatory Framework associated with the organization can be introduced where sharing the laws and policies governing to create the ongoing operation of business enterprise enabling the respect towards Human Rights in the business can be ensured. The consideration of Human Rights standards in the employee management system can help the organization to provide effective guidance and encourage the communication for addressing the Human Rights impact (Alamgir and Alakavuklar 2020 ). Satisfaction of the employees should be an important area of consideration in the proposed strategy. The employee satisfaction is quite necessary for Fabulous fits to continue its operation. In consideration to the wages structure in Bangladesh ithas been found that due to the cost effective registrar picture the company can produce the products in very low cost and it can 6 MANAGEMENT sell the product in higher cost in the Australian market. Therefore continuing the profitability, proper consideration of employment standard will be necessary, where covering the human rights, the employee benefits will be provided. Following the ethical standard, the company should focus on fulfilling its fundamental and social responsibilities towards the stakeholders. Mandating advanced socio economic justice towards the employees by setting international labor standard. Effective communication strategy Clear communication is another important area that needs to be considered by the company , 2018while initiating future strategies (Akbari 2018 ). In consideration to the case it has been found that lack of communication between the sourcing manager and CSR manager, the extreme situation has been created within the organization. It has also negatively influenced the relationship between Fabulous fits and Garmentz International. The communication between these two parties has not only negatively influence the corporate value of the brand but also it has negatively influenced the stakeholder relationship management approach. Therefore, clear and transparent communication between the fabulous fields and garments International will be necessary in future in order to continue the operation between these two companies. In this situation conducting meeting in every two month can help in maintaining the transparency (Rather & Camilleri, 2019 ). Involving the stakeholder group in decision making process the company can not only contribute in improving the leadership management ability but also the company can successfully gain the trust of the stakeholder group. Responsible communication along with the effective design of the marketing strategy can help in informing about the organizational activities to both the stakeholders. Particular strategic approach can be linked with the stakeholder salience concept where the stakeholders will be considered as vocal, visible and 7 MANAGEMENT important component in the project. It can be defined as an important aspect associated with the stakeholder management approach, where improving the communication approach the organization can allowed the stakeholders to define their requirements and make decisions based on their needs. Depending on the power, urgency and legitimacy within the organization, the strategic initiative will be shared to the stakeholders for the collaborative approach. Regain the corporate value Skipworth, Delbufalo and Mena (2020) stated that After the covid-19 pandemic situation due to the payment related issue negative image has been negatively reflected of the company on the market. After the incident has got highlighted to the clean clothes campaign people the image of the company has got impacted. The campaign has been launched for drawing the attention how the little as 0.6 % of the price of at-shirt can contribute in paying the wage of worker. Along with that, the payment issued in the organization has also got highlighted by ABC news report, where it has been clearly reflected that the Fabulous fits has refused to pay their workers and made thousand of termination. After this incident the company has faced major loss in its image and in a60 minutes episode, the perception of the customers has got to the changed on this brand. Therefore, in this situation regaining the brand value will be the main priority of the company. Phillips and Sharman (2020) stated that the particular issue has got started due to the payment issue within the organization in this case ensuring the high commitment towards employee management, along with the fixed wages structure the company should focus on providing significant compensation and benefits to the employees. Ishizaka et al. (2019) stated that the workers who are working during the covid-19 pandemic situation should we provided the health benefit policy and other benefits, in order to gain the brand value in the market. The particular initiative can also bring agreater impact on the organization for longer period because itwill not 8 MANAGEMENT only improve the brand value but also it can help in gaming employee loyalty. After the major loss in brand value gaining the corporate value the company should focus on considering the corporate social responsibility initiative, where CSR base investments will be done by the company (Anner 2021 ). The strategic approach can also contribute in avoiding the ethical obligation associated with the case. In the Fabulous Fits considered in the political and Critical perspective will also be necessary, where new responsibilities will be adopted towards the community betterment so that trust of people on the branch can get increased. Addressing the inequality and improving society can help the company to generate its significant value in the market. Reference: Akbari., 2018. Logistics outsourcing: a structured literature review. Benchmarking: An International Journal . Alamgir, F. and Banerjee, S.B. 2019. Contested compliance regimes in global production networks: Insights from the Bangladesh garment industry. Human Relations ,72(2) 272 –297. Alamgir, F., and Alakavuklar, O.N. 2020. Compliance Codes and Women Workers ’ (Mis)representation and (Non) recognition in the Apparel Industry of Bangladesh. Journal of Business Ethics ,165 (2),295 –310. Anner, M. 2019. Predatory purchasing practices in global apparel supply chains and the employment relations squeeze in the Indian garment export industry. International Labour Review ,(4) 158, 705-727. 9 MANAGEMENT Anner, M. 2021. Power relations in global supply chains and the unequal distribution of costs during crises: Squeezing suppliers and workers during the Covid â€19 pandemic. International Labour Review. 1616 (1), 59-81. Ethicaltrade.org 2022. Retrieved from: https://www.ethicaltrade.org/sites/default/files/shared_resources/guide_to_buying_responsi bly.pd [Accessed on 4th may, 2022] Ishizaka, A., Bhattacharya, A., Gunasekaran, A., Dekkers, R., and Pereira, V. 2019. Outsourcing and offshoring decision making. International Journal of Production Research ,57 (13), 4187- 4193. Kano, L., Tsang, E. W., and Yeung, H. W. C. 2020. Global value chains: A review of the multi- disciplinary literature. Journal of international business studies ,51 (4), 577-622. McCarthy, L., Soundararajan, V., and Taylor, S. 2019. The hegemony of men in global value chains: Why itmatters for labour governance. Human relations ,74, (12), 2051 -2074. Mckinsey.com 2022. Retrieved from: https://www.mckinsey.com/industries/retail/our- insights/state-of-fashion [Accessed on 4th may, 2022] Ökten, N. Z., Okan, E. Y., Arslan, Ü., and Güng ör, M. Ö.2019. The effect of brand value on economic growth: A multinational analysis. European research on management and business economics ,25 (1), 1-7. Oxfam.org.au 2022. Retrieved from: https://www.oxfam.org.au/wp- content/uploads/2020/11/2020-AC-006-WSM-Research-Report_Digital_FA_Pages.pdf [Accessed on 4th may, 2022] 10 MANAGEMENT Phillips, A., and Sharman, J. C. 2020. Outsourcing Empire. In Outsourcing Empire .Princeton University Press. Priskila, S., and Darma, G. S. 2020. Employee Perception of Brand Value in the Jewelry Industry. Journal of Economics, Business, & Accountancy Ventura ,23 (2), 267-278. Rather, R. A., and Camilleri, M. A. 2019. The effects of service quality and consumer-brand value congruity on hospitality brand loyalty. Anatolia ,30 (4), 547-559. Skipworth, H., Delbufalo, E., and Mena, C. 2020. Logistics and procurement outsourcing in the healthcare sector: A comparative analysis. European Management Journal ,38 (3), 518-532. Thelen, K., 2018. Regulating Uber: The politics of the platform economy in Europe and the United States. Perspectives on Politics ,16 (4), pp.938-953.
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