FSN 400 Lecture Notes - Lecture 1: Fast Fashion, World Trade Organization, Good Governance
29 Jan 2016
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Document Summary
Benefits of the wto: far competition, cut costs and raises the standard of living, more choices for the consumers, settle disputes, economic growth and employment, encourages good governance, help countries" development, peace and stability. 4 percent-plus drop in apparel retail prices from 2006-2008 as a result of quota. China has surpassed japan to become the world"s second biggest consumer market. India will become an increasingly important sourcing locale for us firms. The opening of apparel retail opportunities in china, india, and other emerging markets (bric) Retail market: fast fashion companies (zara, h&m, etc) Key elements of taylorism or scientific management: replace rule-of-thumb method, developing mass standardized method, division of labour, equal division of work, selecting works, supporting workers, giving incentives payments to workers. Manufacturing is not buying low and selling high. 1905 the protestant ethic and the spirit of capitalism. Weber"s characteristics of an ideal bureaucracy hierarchy of command. Empowerment or automation with a human touch.
