Strategic Management in the Garment Industry | Gordana Colovic

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Strategic Management in the Garment Industry
by Gordana Colovic
Strategic Management in the Garment Industry

Contents
Foreword vii
Preface ix

1 Strategic management 1
1.1 Strategy 1
1.2 Strategic management 7
1.3 Vision, mission and goals 10
References 12

2 Garment industry 14
2.1 Garment industry 14
2.2 Development 17
References 20

3 Strategic marketing in garment industry 21
3.1 Marketing 21
3.2 Market analysis and segmentation 23
3.3 Marketing strategy 49
3.4 Management of retail, wholesale and logistics market 70
3.5 Diversification 78
3.6 International marketing 78
3.7 Internet marketing 81
3.8 Knowledge management and innovations 82
References 88

4 Strategic management in garment industry 91
4.1 Strategic business conditions 91
4.2 Strategic planning 95
4.3 PEST analysis 100
4.4 Portfolio analysis 103
4.5 Strategic control 109
4.6 Benchmarking 113
4.7 Brand strategy 119
References 126

5 Strategic methods 128
5.1 Introduction 128
5.2 SWOT 130
5.3 Scenario method 139
5.4 Gap analysis 143
5.5 Ansoff’s matrix 146
5.6 Five Forces Analysis 149
5.7 The McKinsey “7–S” framework 153
5.8 Balanced scorecard 155
References 162

6 Organizational behaviour 164
6.1 Organizational behaviour 164
6.2 Organization structure 170
6.3 Organizational culture 178
6.4 Motivation 184
6.5 Work teams 192
References 195
Index 197

Preface
The dynamics of international strategy for garment industry is accelerating with development of concepts and new demands of rapid changes in the market. The whole world is seen as a potential source of production, and simultaneously as a single market of garments. The final goals should be ultimate success for those manufacturers whose products are inexpensive and better than the competition.

With the development of markets and increased competition, there are many fashion producers who want to sell their products and impose on the world market. Garment producers are forced to be even more initiative in the field of innovation and further reduction of operating costs. Social development has changed the lifestyle of consumers, and due to demographic changes there is an increasing number of consumers with different demands and needs, thus requiring from garment manufacturers to develop new marketing strategies and methods.

Developing strategic marketing orientation is a long-term process and represents a unique form of investment. This investment involves a change of organizational culture and organizational climate in a way that the common values, expressed through the satisfaction of consumer needs and ensuring the quality in all activities, strive to be the motto of all employees. In order to sustain garment industry it is necessary to meet consumer demands concerning the quality, price and delivery time. These criteria can only be met through restructuring of existing production–business system, introducing new technologies, changes in organizational forms, i.e. finding organizational design that will enable using all potentials of employees and motivate the entire organization.

Turbulent environment, as a result of rapid development in technology and diversification possibilities, meets the increasing needs of consumers who seek for even more original and unified products and forces modern management to dynamic adjustment of production–business systems and changes in the environment.

The survival of garment producers increasingly depends on the ability of management to understand and manage changes. A strategic change should be viewed as a continual process that takes place in certain circumstances. Carrying out changes depends largely on the nature of activities to be performed as well as the expertise and skills of employees. The success of a garment producer is determined by his ability to achieve dynamic harmony with the changing environment, i.e. it is a result of flexibility (efficiency) and adaptability (effectiveness) of business. Strategy implementation and moving garment producers in a desired direction requires a special kind of expertise. Formulating a strategy requires an entrepreneurial focus and emphasizes the ability to conceptualize, analyze and weigh, whereas applying strategy has a primarily managing focus. All fashion companies must, regardless of their current situation, develop a long-term strategy. There is not a single strategy that would be optimal for all companies, because each of them must determine a strategy in accordance with its objectives, capabilities, resources and market position.

The philosophy of global management approach focuses on exploiting market opportunities and identifying opportunities for acquiring resources in other countries, aiming to achieve full synergy in realizing mission and goals of a company. Organizing business in the international market differs from one company to another and depends primarily on the goals and tasks set by the company, available resources, management and marketing strength, competitive position, the degree of involvement in international affairs and market attractiveness of fashion production and sales program. This book is the author’s attempt to show advances in business strategy in the garment industry for current and future managers in garment industry, students of textile technology, engineers and top managers in garment industry.

I would like to thank Professor Dr Danijela Paunovic for her professional support, and Professor Sladjana Milojevic for editing.

Dr Gordana Colovic


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