Abstract:
Global market is open for all to maximize profit and accelerate business where a
country necessitates knowing the details about opportunities, business strengths and
fixing strategies in order to get the competitive advantages competing with other
copious factors and potential multiple actors. Bangladesh is much exposed to the
global market and encourages private sectors, especially readymade garments industry
emerged in 1980s. According to Bangladesh Bureau of Statistics (2010) this sector
has become the second largest export-oriented industries significantly contributing to
the national economy. The high rate of unemployment in Bangladesh creates an
abundance of cheap labor that attracts foreign buyers. Although globalization has
brought some negative aspects, it also comes with myriad possibilities for socioeconomic
benefits as benign effects. In order to maximize profit and business
advancement, globally exposed businesses largely depend on fixing the strategies of
business, meeting the employment standards, adhering to government rules and
regulations, understanding and exploiting global market and meeting the demand of
global actors. This paper is developed based on secondary data collected from
journals, books, reports, World Bank publications, national and international daily
newspapers, and annual publications of different ministries of Bangladesh. Literature
suggests that three major parties i.e. the Bangladesh government, employers and
foreign buyers try to gain maximum benefit from the global market. The Bangladesh
government has enacted public policies for investment for both foreign and local to
utilize huge unutilized workforce for economic development of the country.
Employers take the advantage of government policies and cheap labor. Foreign buyers
also demand special provisions from government and competitive price in the market.
The ultimate issue is the working people in the central focus who build the triangular
relation and contribute in this sector. However, they are ignored as they are poorly
paid, forced to work in bad working conditions, and not provided proper facilities
according to labor laws. The objectives of this paper are to examine the role of the
above mentioned actors and contributing factors, how working people, women in
particular are utilized and exploited, and to find out the effective bargaining
mechanism for greater benefit.
