With the change in socio economic environment,dynamics of management principles and practices underwent changes. Complexity of the business viz, new set of Regulations, Compliances,Governance Standards and Ethical practices have been demanding improvement in the standards of managing business. Economic reforms process coupled with globalization further raised bar of efficiency, competitiveness, scalability and urge for cost effectiveness across all the industry, sectors in India. It is our endeavor to provide best possible academic inputs by way of extensive class room sessions, project work, on the job training, industry visits and knowledge sharing through continuous interaction with industry experts.
Business owners have less control of these external factors, and their impact in changing them is minimal. Instead, small companies must adapt to these macro environmental factors, which include consumer characteristics, technology, government influence and the economy.
The way small companies adapt to macro environmental factors determines both their ability to differentiate themselves from key competitors and overall success.
Union workers in clothing manufacturing plants may picket their employers, especially if their wages or medical benefits are less favourable than workers in comparable industries.
Workers picketing their clothing employers impacts production. This can cause delays for retailers in getting spring or fall fashions on time.
Activists who are not employed by the companies may also picket retailers who purchase clothing from countries known for violating child labour laws. During economic boom periods, people have more disposable income. Hence, they may buy more clothes, increasing sales for clothing manufacturers, wholesalers and retailers.
However, recessions have the opposite effect. Sales for these various clothing entities may be significantly lower. Consequently, retailers may be stuck with large amounts of inventory. And they may have to sell the clothing at substantially reduced prices.
Clothing manufacturers and retailers may also need to sell lower-priced clothing brands to compete with more generic brands.
Consumers often shop for cheaper brands when they have less disposable income. These factors affect the clothing industry in different ways.
For example, a small clothing manufacturer needs to create styles that appeal to those of different cultures, especially if those cultural groups represent large enough segments of its market. Contrarily, clothing manufacturers, wholesalers and retailers avoid creating too many clothing items that fall outside the norms of society, such as styles worn years ago.
An aging population may increase the demand for larger jeans and pants sizes, such as relaxed or looser-fitting styles. Generally, many people become more sedentary when they get into their 40s and 50s.
For example, the scarcity of certain materials, such as leather, may force retail and wholesale clothing companies to sell more faux or substitute leather products.
Retailers may increase the prices of cotton clothing if they encounter shortages of this raw material, as they must pay their manufacturers more. The introduction of new clothing styles by a competitor can shift demand away from older fashions.
Hence, a small clothing manufacturer may need to discontinue certain clothing lines and produce new ones that meet the needs of consumers. Moreover, clothing companies may add more advanced equipment in their plants like robots, which may force companies to fire some workers.
Inthese two categories together constituted around 6. The Indian middle-class population and their growing disposable income levels will drive the future growth of organised retail in India6. Due to the increasing use of IT and telecom, Indian consumers have become aware of brands and shops for lifestyle and value brands according to the need and occasion.Pantaloon Evolving Hr Issues in Pantaloon Retail India Ltd.
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from President’s Desk “ CHANGE is the only CONSTANT thing in life. ” Management education, over the years, has experienced a sea change. Pantaloon Retail Pantaloon Retail (India) Limited is India's leading retailer that operates multiple retail formats in both the value and lifestyle segment.
Pantaloon has ushered a retail revolution in India and its founder Kishore Biyani is known as India's "King of Retail". department of management studies - batch list of candidates project titles and company mba student project list. from President’s Desk “ CHANGE is the only CONSTANT thing in life.
” Management education, over the years, has experienced a sea change.