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textile in world market > midterm > Flashcards

midterm Flashcards

1
Q
  1. Where were most textile and apparel products produced in the mid 20th century?
A

within domestic economies

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2
Q

how did this change in the 1980’s (domestic apparel production)?

A

The source of these products changed from domestic to international to multinational to global as textile and apparel professionals sought ever elusive supplies of merchandise that would both satisfy customers and generate levels of profit necessary to sustain their business

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3
Q

what is the textile complex?

A

everything that connects textiles from around the world
the textile complex incorporates firms around the world to accomplish textile fiber production and manufacturing, textile manufacturing, apparel manufacturing retailing and product consumption

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4
Q

what is the difference between domestic trade international trade and global trade?

A

domestic trade refers to the exchange of goods services or both within the boundaries of a specified state or country
international trade is any exchange of goods involving two or more countries
global trade goes on to include the potential participation of many groups
international and global sometimes used interchangeably but most people understand global means universal and comprehensive - pertaining to the whole world

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5
Q

what are trade agreements

A

established by governments to enhance or control trade; fall under politics

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6
Q

is the textile trade a 20th century phenomena

A

no china shill road ancient

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7
Q

what is sourcing?

A

the process of determining the most cost efficient vendor of services material production or finished goods or a combination of these at a specified quality and service level for delivery within an identified time frame

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8
Q

what is the primary driver of the growth of international trade of textiles and apparel

A

sourcing products bt firms based in developed countries from firms based in developing countries with low labor costs, sourcing priorities have contributed to the globalization of trade by driving the apparel manufacturing industry in particular around the world

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9
Q

what is globalization

A

the process whereby the world’s people, their firms and their countries become increasingly interconnected in all facets of their lives

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10
Q

what is the difference between imports and exports

A

imports are goods available for domestic consumption or materials available for domestic production because of exports pif other countries exports are goods shipped to another country for import in exchange for money, other goods or jobs

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11
Q

what is a trade balance

A

relationship between imports and exports of a country

trade balance = exports - imports

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12
Q

what is the difference between a trade surplus and trade deficit

A

trade surplus is a positive trade balance, value of exports exceeds value of imports, trade deficit is a negative trade balance where the value of imports exceeds value of exports

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13
Q

what is apparel sourcing?

A

identifying the appropriate countries of origin and contracting with cost efficient vendors for services reduction or finished goods

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14
Q

what is textile materials sourcing?

A

identifying appropriate countries of origin and contracting with cosset efficient vendors of fabric thread or findings at a specific quantity quality and device level for delivery within a designated time frame

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15
Q

why was hong kong the first to develop the expertise to offer apparel sourcing

A

demand in hong kong exceeded what could be produced in a small country

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16
Q

what is japan known for exporting?

A

exporting high tech fivers and fabrics including microfibers

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17
Q

What are least developed, developed, developing, and newly developing countries?

A

a. Developed = comparatively rich
b. Developing = comparatively less rich
c. Newly developing = comparatively poor
d. Least developed = poorest

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18
Q

What did first world, second world, and third world refer to and why are these terms no longer widely used?

A

After World War II, The First World referred to the North American and European Western bloc, and the Second World referred to the Soviet-led Eastern bloc. Western and Eastern referred to two socio-political regions in the northern half of the gloves hemispheres. During the last half of the 20th century, the two blocs had the most economic and military power and faced off in an ideological confrontation known as the cold war. The Third World referred to countries in the globe’s southern hemisphere, namely countries in Asia, Africa, <Latin America and the pacific that were trying to make their own way in a rapidly developing world. These terms are no longer widely used because of the demise of the Soviet Union, but you may come across them in descriptions of recent history (Ellwood, 2001). (14)

b. First = north American and European western bloc, Second = soviet led eastern bloc, Third + countries in globes southern hemisphere.
c. Now we are more economic vs. political.

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19
Q

what is pre capita

A

each measure is presented by or for wCH INDIVIDUAL THE TOTAL IS DIVIDED BY THE NUMBER OF INDIVIduals all share equally

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20
Q

gross national product

A

the value of average output produced by domestic residents of a nation as they labor within that nation - key produced domestically within nation

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21
Q

gross national product per capita

A

gross national product of a country divided by the number of people in the population

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22
Q

gross domestic product

A

the market value of the output if products and services produced within a country in a year

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23
Q

why do you have to use the same measure when comparing the economic will being of individual nations?

A

apples and oranges ideas

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24
Q

how did developed countries build their economic base?

A

industrialization

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25
Q

what were/are many of these economies built on

A

industrial revolution / textile products

everything is made of textiles

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26
Q

what is the textile complex

A

combination of all firms of textile related business that supply soft goods to the world

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27
Q

what is a firm?

A

any business corporation proprietorship or partnership

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28
Q

what are soft goods?

A

products made of textile materials

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29
Q

describe in general textile and apparel firms in the mid 20th c.

A

small and family owned

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30
Q

how did many firms survive in the 20th c?

A

horisontal integration

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31
Q

What is horizontal integration?

A

change brought about through mergers (firms with similar functions joining forces to form one larger business) and Takeovers (strong firms absorbing weaker firms to form one larger business).

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32
Q

What is vertical integration?

A

when firms that perform different stages in the planning, design, production and distribution of products join to form one larger business. Takeovers are also means used to create a vertically integrated textile or apparel firm especially if supply of essential material or equipment is involved. (23)

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33
Q

When did we see a lot of mergers?

A

mergers and acquisitions were on all time high since the 1990’s

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34
Q

What is the first level of the textile complex? What does it primarily deal with?

A

fiber agriculture production and manufacturing: textile fiber commodity marketing. (23)
It primarily deals with fibers and fiber production and sale.

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35
Q

What is the second level and what does it deal with?

A

textiles, textile products, and findings manufacturing: wholesale materials marketing; all activities related to textile manufacturing including yarns, fabrics, fabric finishing and the production of findings. (24)

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36
Q

When textile production became commercialized in the mid 1800s, how did companies operate?

A

Historically in the United States beginning in the mid 1800s as textile production became commercialized each of the stages of textile production was completed by individual family owed businesses. The products were bought and sold in each stage of textile development

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37
Q

What are findings?

A

are materials other than face fabric used to construct garments: interlinings, pocket bags, linings, closures and trims. (8)

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38
Q

What is Premiere Vision?

A

International market fair for textile products held in Paris France

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39
Q

what is level 3 of the textile complex?

A

appareal manufacturing: wholesale finished goods marketing

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40
Q

whay has the term apparel manufacturer been replaced by apparel firm or brand manager?

A

the emphasis on marketingg nationally and internationally know brands of merchandising

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41
Q

what are the two primary forms of production contractors

A

CMT cut make trim and full package

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42
Q

what is the VF Corporation

A

an example of a firm that has integrated many stages iin production the worlds largest apparel firm

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43
Q

what is the fourth level in the textile complex?q

A

department , mass, specialty, electronic, and other forms of retailing

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44
Q

What is homogenization? Do you think this is an issue? Why or why not?

A

Erosion of culture due to globalization

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45
Q

The text mentions the tailored business suit as an example of homogenization, what is another example?

A

Blue jeans, t-shirts, athletic gear

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46
Q

How did buying offices change from the 1950s until today?

A

more involved in product development for private label s once mergers happened, race to find lowed cost labor, standardization merch id system

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47
Q

What is import and export trading?

A

recently developed type of enterprise that assists textile and apparel firms in satisfying customer demand for goods and services from the global market

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48
Q

What is a supply chain?

A

otal sequence of business processes involving single or multiple businesses and countries that enables demand for products or services to be satisfied

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49
Q

Who is Li Fung? Why are they important

A

Li Fung is the dominant firm involved with supply chains, they are important because sourcing is key to success.
Main sourcing firm based in hong kong

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50
Q

what are trade barriers?

A

anything that regulates or restricts trade state trading, tariffs, quotas, foreign investment limits.

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51
Q

what are politics?

A

are the methods or tactics involved in managing an organization business state or government sometimes including crafty unprincipled politics.

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52
Q

consumer obsolescence

A

is discarding a good due to a lack of interest rather than a lack of utility for the object. Out of fashion clothing is an example.

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53
Q

is the fashion cycle faster or slower in poorer countries

A

slower

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54
Q

Why are styles in developed countries known in all different types of countries

A

Styles in developed countries are known in all different types of countries because donated clothing given to those countries show styles. The prevalence of communication technology, the internet, etc., also accounts for this knowledge.

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55
Q

According to the text, what is one of the greatest shortcomings of capitalism?

A

one great shortcoming of capitalism is that it relies on the slowed economic development of countries, making them poorer than other countries.

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56
Q

Well -being as referred to in our text

A

refers to a good or satisfactory existence at a given place/time.

57
Q

buying power

A

the amount of goods purchased at a given place/time with a certain amount of money.

58
Q

consumption

A

using goods/services

59
Q

example of a good and an example of a sevice

A

a good is a jacket, a service is a tailoring store

60
Q

what does living refer to?

A

consuming and pre suing a lifestyle and having an income sufficient to live

61
Q

What does standard refer to?

A

the level of life desired to strive for resulting in either gratification or frustration or both

62
Q

what is the level of consumption

A

what is experienced enjoyed or suffered by an individual or group

63
Q

What is a standard of living and what is it based on?

A

based off of the culture or society of a given group or individual.

64
Q

In your standard of living, what is more important?

A

I probably strive more for being self-actualized and accepted by other people than looking for a shelter or food.

65
Q

what is total income

A

gross income made from work

66
Q

disposable income

A

is the “take home” pay after taxes are removed

67
Q

what is consumption expenditure?

A

expenditure is money used to support consuming during a given period.

68
Q

discretionary income

A

is money left after spending on obligations – my discretionary income is what’s available after paying for rent, bills and insurance.

69
Q

poverty

A

is the lack of income/resources to satisfy minimum needs.

70
Q

poverty line

A

is the point at which income/resources are inadequate to maintain life and health.

71
Q

minimum needs

A

are the standards or levels of consumption and living, which vary according to place and time. For example, someone’s minimum needs 80 years ago might be different from those today in the U.S.

72
Q

What is the difference between superior, normal, and inferior goods?

A

a. Superior goods: the consumption of a good is positively correlated with income at a faster rate than income changes. Economic luxuries.
b. Normal goods: positive correlation with income at a slower rate than income changes. Economic necessities.
c. inferior goods: negative correlation with income.

73
Q

Superior goods

A

: the consumption of a good is positively correlated with income at a faster rate than income changes. Economic luxuries

74
Q

normal goods

A

positive correlation with income at a slower rate than income changes. Economic necessities.

75
Q

inferior goods

A

negative correlation with income

76
Q

What is the consumer price index?

A

is a measure of the impact of inflation on consumer buying power in the US.

77
Q

How do they collect data for the CPI?

A

is collected by interviews and surveys with households

78
Q

Why does the text state that the price of apparel is a bargain at the moment?

A

because apparel is now available quicker than it can be sold, and retailers need to compete with each other for sales

79
Q

What is the difference between progressive and regressive taxes?

A

a. Progressive taxes: the rate increases with income

b. Regressive taxes: the rate decreases with income.

80
Q

Progressive tax

A

rate increases with income

81
Q

regressive tax

A

rate decreases with income

82
Q

why do some policymakers not apply races to food or clothing?

A

these are considered economic necesities

83
Q

What is the global TA industry described as a matrix?

A

interconnected structures and activities that provides multiple venues for designing, producing, marketing, merchandising, and distributing textiles and apparel and that begins and ends with consumers

84
Q

What is the Harmonized System?

A

international Harmonized Commodity Description and Classification System, devel- oped by the World Customs organization

85
Q

who uses this system?

A

used by more than 200 countries as a basis for the collection of international trade statistics and as a foundation for their tariff syste

86
Q

What is the Harmonized Tariff Schedule of the US?

A

The HTS is based on the HS and is the primary resource for determining tariff classifications for goods imported into and exported from the United States

87
Q

How does the HTS work and who maintains it?

A

The HTS is divided into 99 chapters and contains numerous appendices and indexes. Textile products are assigned to Chapters 50 through 60; apparel products are identified in Chapters 61 (knit) and 62 (woven). The sys- tem is maintained by The U.S. International Trade Commission (USITC)

88
Q

What did the US, Canada, and Mexico join in 1994?

A

north american federal trade agreement

89
Q

Why did these countries have trouble documenting products?

A

different systems of measurement

90
Q

What did they develop in order to address this issue?

A

North American Industry Classification System

91
Q

What does NAICS facilitate?

A

Standardizes the identification of textiles and apparel and other products in a manner consistent with the world market

92
Q

Why did synthetic fiber producers merge? What type of merge was this called?

A

Horizontal mergers happened because it enabled better developments

93
Q

What is DuPont now called?

A

INVISTA

94
Q

Why do developed nations tend to excel in dyeing and finishing techniques?

A

They have better access to technologies used to do advanced finishing techniques

95
Q

What countries are involved in these techniques?

A

a. United States, Japan and Germany

b. Followed by Taiwan and south korea

96
Q

Why is production of women’s and girls cut-and-sew garments in small productions runs?

A

To maintain flexibility to produce new fashions as consumers seek them

97
Q

What does logistics refer to in the text?

A

The science of moving products through the supply chain to their final destination in a timely manner

98
Q

What is a UPC?

A

Universal product code

99
Q

What is a newer logistic tool used by the industry? What company implanted this technology first into the supply chain?

A

Radio frequency identification

100
Q

What is mass customization?

A

Team based flexible manufacturing to produce a variety of styles based on individual consumer demand

101
Q

Are these systems helping the apparel industry?

A

Flexible systems make it possible to respond to cus- tomer demand for greater variety of styles with more frequent introduction of new styles on the retail sales floor

102
Q

Have they developed automated garment sewing?

A

no

103
Q

Have they developed automated textile production? For all textiles? Describe.

A

yes, but not for all

104
Q

Why were/are women the predominant sewers in the apparel industry?

A

the practice of low wages for women

105
Q

what is a sweatshop

A

firms taking advantage of employees and offering very very low wages and poor condition

106
Q

what is the WTO

A

world trade organization

107
Q

what is the purpose of the WTO?

A

to ensure that trade flows as smoothly predictable and freely as possible

108
Q

what is GATT?

A

General agreements on tariffs and trade

109
Q

why are imports a concern for developed countries

A

trade deficits

110
Q

What are corporate social, environmental, political, and economic responsibilities?

A

responsibilities to the general zeitgeist of the world, making sure you are not adversely effecting

111
Q

what are codes of conduct?

A

statements of principles and standards by which business decisions are made

112
Q

what is sustainability?

A

involving methods that do not completely use up or destroy natural resources

113
Q

what is a consumer activist?

A

activism undertaken on behalf of consumers to assert consumer rights

114
Q

What is social responsibility?

A

the idea that companies should embrace its social responsibilities and not be solely focused on maximizing profits.

115
Q

What is the Fair labor association? Who is a part of it and what do they do?

A

coalition of companies, universities and NGO’s dedicated to improving labour conditions around the world. They focus on reducing labour exploitation.

116
Q

What is environmental sustainability?

A

a state in which the demands placed on the environment can be met without reducing its capacity to allow all people to live well, now and in the future.

117
Q

What are some ways that people can undermine the WRAP system

A

Its not probable that all individuals who work for them are ethical and honest

118
Q

what is fair trade

A

a term used to describe trade systems and regulations that are less discriminatory in benefits among rich and poor, large and small, developed and developing countries

119
Q

What are ethics and morals?

A

ethics are moral codes for individuals, morals are the accepted standards of right and wrong in society

120
Q

What are human rights?

A

rights inherent to all human beings, whatever our nationality, place of residence, sex, national or ethnic origin, colour, religion, language, or any other status

121
Q

Does everyone have equal human rights? Why or why not?

A

no, because some populations are vulnerable to exploitation

122
Q

What is labor exploitation?

A

when vulnerable populations are taken advantage of for their labour

123
Q

what is poverty

A

lack of enough income and or resources to satisfy minimum needs

124
Q

What is the HDI?

A

Human Development Index is an indicator of well-being incorporating measures of gross domestic product, life expectancy at birth and adult literacy

125
Q

What is a living wage?

A

The level of income that covers a families basic needs including the maintenance of good health

126
Q

is income equal between genders?

A

no

127
Q

who typically earns more?

A

men

128
Q

why did men lose more jobs in 2009?

A

men are paid more so in the economic downturn they would be fired because a woman made less doing the same job

129
Q

is it estimated that how many children work around the world

A

128 million

130
Q

how many people are in some form of forced labor

A

12 million

131
Q

what is a union

A

a group of workers who collectively act for specific issues

132
Q

What is a labor union?

A

whole idea: empower vulnerable workers

133
Q

what do strikes do?

A

gain attention,

134
Q

what is the AFL-CIO

A

The American federation of labor and congress of industrial organisations is an association of national and international unions,

135
Q

What is the ILGWU?

A

nternational ladies’ garment workers union

formed as a result of triangle shirt waist fire, first union to have mostly women members, formed in 1900

136
Q

Briefly describe the history of textile/apparel labor/trade unions. (know the general phases described on page 125 in the text)

A

There were five phases. The organizational phase from 1880-1917, the growth phase 1923-1958, the mergers begin, between 1965- 1979 and then the focus turns to recent immigrants and exporting countries, 1986-1995, and finally the social activism phase from 1996 to 2009
phases and changes over time depending on what was happening at the time

137
Q

What is a social activist?

A

A social activist is a person or organization that endorses a doctorine or policy of taking positive direct action to achieve an end especially a political or social end

138
Q

What happened in 1998 during the social activism phase?

A

College students many of who did summer internships with UNITE! Founded the students against sweatshops to push their universities to take responsibility for working conditions for people around the world who make $2.5 billion of college logo apparel a year

139
Q

what is collective bargining

A

the bargaining done by unions

textile in world market (2 decks)

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