Today, the term globalization has become a catch phrase, throughout the world. The process of globalization has become an irreversible phenomenon. Globalization involves removing restrictions on foreign trade and foreign investment so leverage the benefits of comparative advantage in terms of capital, technology and skilled labor apart from this, with the relaxation in the exchange control regulations by many countries, capital flows, both foreign direct investment and foreign portfolio investment, are common as compared yesteryears. Exchange rates also play a vital role in the transactions.
Globalization attempts have brought in a host of multinational corporations (MNCs) as employers, often paying salary in foreign currencies and offering placement abroad, which make the individuals financially more well off and help enhance the global career options. but, in this era globalization one has to learn the recent development in the arena of international business, such as implication of world trade organization(WTO)agreements, EXIM(export import)policy schemes, foreign exchange risk management, foreign investment strategies and trade invoicing mechanism for managing business. Multinational are in need of professionals who are smart enough and knowledgeable in international business and strategies management.
TWO MACRO FACTOR TO GRATER GLOBALIZATION
1. The decline in trade barriers to the free flow of goods, services, and capital, which has occurred since the end of World War II.
2. The technological change, particularly the dramatic developments that have occurred in recent years in communications, information processing and transportation technologies.
CHALLENGES OF GLOBALISATION
1. Free flow of import and exports.
2. Heavy competition and influx of new technologies.
Hosiery describes tight-fitting garments worn directly on the feet and legs Most are made by knitting methods. Modern hosiery is usually tight fitting by virtue of stretchy fabrics and meshes. Older forms include binding to achieve a tight fit. Due to its close fit, most hosiery can be worn as an undergarment, but it is more commonly worn as a combined under/outer garment.
INTRODUCTION OF APPAREL
The origins and motives of dress,, the interdisciplinary study of Apparel and textiles, and introduction to apparel and textile Research. Investigation of careers in the textile and apparel Industry.
APPAREL INDUSTRY IN DEVELOPING COUNTRIES
The Textile Progress monograph series provides a critical and comprehensive examination of the origination and application of developments in the textile industry and its products. This issue takes an overview of the main factors affecting the textile and apparel industry in underdeveloped nations.
The textile and apparel complex, especially the apparel sector, is one of the most labour-intensive of all the manufacturing industries and many countries endowed with abundant cheap labour have used this industry to stimulate national industrialization. However, the apparel and textile sector is still under-developed, unexploited and badly mismanaged in scores of developing countries, with the causes deeply rooted in the developmental stage of the industry.
This issue assesses the main factors affecting competitiveness of the apparel and textile industry covering trade barriers, industrial and trade policies, infrastructure, buying power, financial capital, managerial skills and the impact of Multinationals on socio-economic stability. Case studies are provided covering the current status of the industry in Sub-Saharan Africa (SSA) and comparisons drawn with successes in areas such as South East Asia.
The San Francisco bay area is the third largest apparel producing region in the United States. Hundreds of apparel manufacturers, suppliers and related businesses provide many opportunities for employment in the industry. Entry level positions for individuals earning an Apparel Manufacturing Certificate include:
- Assistant to the Fabric/Trim Buyer
- Customer Service
- Shipping/Receiving Clerk
- Assistant Pattern Marker Production Assistant
- Production Clerk
- Assistant Marker Maker
- Assistant Duplicates Coordinator
GLOBALISATION OF THE ECONOMY
Globalization of the economy means integrating the economy with the global economy. This involve of high tariff walls, i.e., reduction of import duties, there by facilitating the transaction from a protected of economy to an open economy, removal of non tariff restriction on trade such as such as exchange control import licensing, and quotas, allowing foreign direct investment (FDI) and foreign portfolio investment (FPI), permitting companies to rise capital abroad, and encouraging domestic companies. To grow beyond national bountries. in the process of globalization, national economics are integrated in several fundamental ways-through trade, finance, production, and growing web of global treaties and institutions. Both foreign investment and international trade volume grown rapidly over the last few years.
WORLD MARKETING SCENARIO
1. Product Strategy
The market is geographically close and culturally similar.
The foreign market segment or niches resemble those of the domestic market.
The product standardization and mass production result in substantial lower price of the product.
2. Product Pricing
Currency fluctuation risk
International marketing cost
International competition costs
Consumer and business production lows.
3. New Product
The cultural compatibility of the product
The opportunity to try out the product before purchase.
The relative advantage of the new product.
The relative case of product use or user friendliness.
The perceived cost benefit advantages.
The Indian economy is going through a transition phase where the restructuring of industries and firms takes place in the form of privatization, globalization liberalization after the implementation of the structural adjustment programs (SAP) in the Indian economy with the rest of the world and with the ongoing attempts of privatization, globalization, and liberalization, the subject matter of international business has been getting more and more acceptance even in developing countries like India. The liberalization approach towards foreign direct investment was initiated in India in the first half of the 1990s as part of the structural adjustment program. This is evident from the policy changes on (a) sectors open to foreign direct investment, (b) level of foreign equity participation; and(c) approval procedures. Today as a result of these policy reforms, India is also one among the developing countries that try to attract more foreign direct investment and attempt to increase the volume of foreign trade.
Global Apparel Market Trends and Opportunities
America and Europe has traditionally been the major markets for intimate apparels, accounting for more than two-third of the global intimate apparel market. In these traditional markets, intimate apparels are a stable apparel category with relatively small fashion element that is driving consumption. However, with the economic growth of Southeast Asian economies like India and China, intimate apparels are increasingly being recognized as a potential market opportunity. Another factor that is driving growth in the global intimate apparel market is the fact that as compared to 5-year average sales growth of 2.6% in apparel segment, the intimate apparel sub-segment is showing 5-year average sales growth of 5.7%.
The report �Global Intimate Apparel Market: Trends and Opportunities� analyzes the worldwide market for intimate apparels � its growth across regions/countries, the factors that are driving growth in these regions and the major trends of apparel consumption � from the increasing demand for bust-sized bras to the preference for comfortable undergarments.
The report identifies purchasing patterns of intimate apparels in various geographical regions. Also the report focuses on the competitive landscape in which global apparel makers like Victoria�s Secret, Hanes Brands, Fruit of the Loom, Warnaco and American Eagle are adopting various strategies to get a share of the intimate apparel market.
Innovation & Technology
A review of the products imported from China to USA during January�April 2005 reveals that the top three products in terms of percentage increase in imports were Tire Cords & Tire Fabrics (843.4% increase over the previous year), Non-woven fabrics (284.1% increase) and Textile/Fabric Finishing Mill Products (197.2% increase) (FICCI, 2005). None of these items, however, figure in the list of imports from India that have gained in these early days of post-MFA. Entry into newer application domains of industrial textiles, nano-textiles, home furnishings etc. becomes imperative if we are to grow beyond 5�6% of global market share as these are areas that are projected to grow significantly. Synthetic textiles comprise about 50 per cent of the global textile market. Indian synthetic industry, however, is not well entrenched. The Technology Up gradation Fund of the government is being used to stimulate investment in new processes. However, there is little evidence that this deployment in technology has accompanied changes in the managerial regimes � a necessary condition for increasing productivity and order winning ability.
The Apparel supply chain
This report uses the global value chains framework to explain the Transformations in production, trade and corporate strategies that have altered the global apparel industry and changed the prospects for developing Countries in entering and moving up these chains. The apparel industry is identified as a buyer-driven value chain that contains three types of lead Firms: retailers, marketers and branded manufacturers. As apparel production has become global and competition has intensified, each type of lead firm has developed extensive global sourcing capabilities. While de-vertical zing out Of production, they are building up their activities in the high-value-added Design and marketing segments of the apparel chain, leading to a blurring of Boundaries and a realignment of interests and opportunities within the chain. Apparel quotas by the WTO in 2005, make sustained success in the global apparel industry a challenging and still very elusive goal.
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