I have learned that globalization in the fashion industry implies abundance of fashion that is sold by the multinational organization or the giant retailers who makes transnational deals and co-ordinate for worldwide distribution of goods. The tendency of the people to get attracted towards fashion and different varieties within different geographic location has a homogenizing effect across different locations and this represents a global paradox. These globalization in the fashion industry is created with the help of computerization and internet in different global markets. According to me, I think globalization in the fashion industry has been both advantageous as well as disadvantageous. It has created pressure among the workers who are engaged in the factories with low wages. Bangladesh stands third in production of clothes after Turkey and China and this video clearly highlights the pressure among the factory workers in this industry. From the video, I have also analyzed that majority of the people prefer to shop through bargaining. Bargaining helps people to find the perfect piece of clothing at the given price. I have found that globalization in the textile industry means people are trying to pay the real cost for the clothing and thus get their desired or preferred choice at the correct time. I have found that the more than 4 million people to Bangladesh in the textile industry and most of the companies have opened up their factories in Bangladesh due to the low cost of labor The factory owners have to keep their prices down due to the steep competition among the companies and this is improving the business environment of Bangladesh. The raw materials are purchased from other countries and the products are made at a much cheaper price compared to other countries. Therefore, I can say that Bangladesh is improving in textile industry and globalization is paving its path for development (Pumpkin Interactive 2018).
Starbucks Social Responsibility Video
After analyzing the video, I have found that Starbucks started in 1971 with three partners. Among these three partners, one partner was the supplier to the company and after a trip to Italy, they decided to open a coffee shop. After analyzing the coffee market in Italy, These three partners decided to open a coffee shop of roasted coffee. Starbucks has captured the market because of its flavor and not because it was dark. I have also found that coffee loses weight and moisture when it is processed or roasted and thus it is considered as a loss for the company. This transformation generally begins when green coffee beans are heated in huge drums and they turn yellow after adequate heating process.
Moreover, Starbucks is also trying to bring more flavors and thus bring unique and different flavors for people from different places. At Starbucks, they are trying to blend coffee that will showcase the particular region in the country. For example, In Latin America, the three coffee flavors has been brewed into one single flavor that exemplifies the best quality of that region. The company is also trying to blend the beans from different regions to weave the different tastes and aromas of coffee. On the other hand, I think blends like Gold Coast Blend, Caffe Verona and Starbucks Christmas Blend offers complex flavors that are not easily available in other single origin coffee. Starbucks is also carrying out several programs in educating students as well as training teachers in the rural countries. The coffee industry is also facing challenges due to overproduction. The coffee that is brought by the common people does not affect Starbucks by the dynamics of demand and supply affects the company. I have also found that it is also difficult for the company to stay connected with the farmers on everyday basis and thus enhance the production of coffee (Prof TabOkWU 2018).
Starbucks CEO Howard Schultz on Social Responsibility
I have found that from the inception of Starbucks, social responsibility is manifested in everything around itself and several campaigns are carried out for stock options and health care options for the employees. It was very challenging and difficult for the company to grow successfully. The only way that was available to the company is the creation of value through the shareholders and thus this will also help in value creation for the company. I have found that Schultz has stressed that the companies must focus on the community group that can help them to improve from the bottom line. This is considered important because there are many communities in America and it is important to take care of these companies. Moreover, 42 out of 50 states are experiencing budget deficit and there is cut to social services. The business leaders and the companies must realize these problem and they must not keep on waiting for the other companies. The different displays of social and political concern are becoming common at Starbucks and it is the responsibility of the company to take care of this and thus help in community and social development. The scale and size of the company and the different platforms will allow the management directors of different companies to arise their voice and thus it will help in carrying out the project successfully. I have also analyzed and found that there are many companies that talk extensively of the different issues and thus this company also focus on global environment and different environmental issues. Schultz also acknowledged that he has taken care of several issues that affects the staffs and the other community members of Starbucks and it is also trying to educate the people through this programs (genConnect U 2018).
Cotton On Foundation: We Empower, We End Poverty
I have found that the mission of the company is to empower the youth and show them the right way to lead in a correct way. I can say that through education and different opportunities, Cotton On Foundation and the different supporters of Uganda are trying to break the poverty cycle. I have also found that it is important to pay attention on sustainable future and this will help the people of Uganda to generate an income that will help in the continuous growth and development. It is important that this developmental process take place village by village and child by child and this will improve the lives of the people. This is regarded as the main commitment of the people and the vision of Uganda by 2020. I have found that Mannya is providing healthy and nutritious meals to the school children and thus according to the survey, it has been found that it is serving more than 800 meals of the students who did not get proper meal or had to stay hungry. I can also say that planning for a sustainable and proper future is essential and several schools must be built in Uganda that will help the country to develop and thus progress on this path. Several initiatives must also be taken and it is important to collaborate or to be in partnership with the local communities as well as teachers that will help in improving the life of the people. Therefore, it can be said that the mission of the group is to develop the educational places, provide healthy and safe drinking water and food to the people and work together for reduction of poverty and improve the quality of life of the people (Cotton on Foundation 2018).
Issues In Financial and Accounting Fraud
I have found that most accounting scandals occur due to forgery in financial reporting. Fraudulent in financial reporting is considered as the misstatement of different financial statements by the company’s management. This is carried out with the intent of misleading investors and it also helps in maintaining the share of the company. The effects of misleading financial reporting will boost the stock prices of the company in the short run and this ill effects will always hamper the company. The short term focus of a company’s accounts and finances is referred to as “myopic management”. I can say that the most common issue is the misappropriation of assets and this happens because the other company uses the assets of one company. This may also lead to stealing and misappropriation of assets can occur at any level of the company. I can also cite different examples in relation to this case. For example,a senior level executive in most cases may charge a family dinner to the company as the business expenses that is to be provided by the company. On the other hand, at the same level of production, the employees may take home supplies to his/her home for personal use. Thus, this also results of misappropriation of assets. I can also say that penalties are also charged for the violation of accounting ethics and law. In certain cases, the legislation will allow harsh penalties for manipulating and destroying the different information and also interfering in the different investigation process.
I think it is important to be aware of this trend and this has constructed the different accounting processes and it has also helped in the elimination of boundaries between the different accounting processes. Therefore, it is important to assume that different accounting profession that is responsible for sharing their own way of calculation and thus prevent forgery and miscalculation in the different accounting processes (Markkula Center for Applied Ethics at Santa Clara University 2018).
Cotton on Foundation 2018. YouTube. [online] youtube.com. Available at: https://www.youtube.com/watch?v=aY_9Y527LVM [Accessed 25 Jan. 2018].
genConnect U 2018. YouTube. [online] youtube.com. Available at: https://www.youtube.com/watch?v=uHIoK4LviCc [Accessed 25 Jan. 2018].
Markkula Center for Applied Ethics at Santa Clara University 2018. YouTube. [online] youtube.com. Available at: https://www.youtube.com/watch?v=YZcfq2pa5pQ [Accessed 25 Jan. 2018].
Prof TabOkWU 2018. YouTube. [online] youtube.com. Available at: https://www.youtube.com/watch?v=Nly_OdvORQY [Accessed 25 Jan. 2018].
Pumpkin Interactive 2018. YouTube. [online] Youtube.com. Available at: https://www.youtube.com/watch?v=3YAUvDmMGMI [Accessed 25 Jan. 2018].