Knowledge Management

Knowledge Management has a role to ensure that people have the knowledge they need where they need and when they need, i.e. the real knowledge in the right place and at the right time. There are many definitions of knowledge management, such as:

• Knowledge management is to discover, develop, utilize, deliver, and absorb knowledge inside and outside the organization through an appropriate management process to meet current and future needs. (Ouintas, Lefrere and Jones, 1997).

• Knowledge management is a process that helps organizations find, select, organize, disseminate, and transfer important information and expertise necessary for activities. (Gupta, Iyer and Aronson, 2000).

• Knowledge management is getting the right information to the right people at the right time, helping people create knowledge and sharing and acting on information. (Holm, 2001).

Strategic view on knowledge management considers the union between technology and human factors as a basis for market survival. Some authors even differ the very nature of the concept of knowledge management from other strategic concepts just according to passion, courage and confidence of a knowledge leader.

Knowledge management requires turning personal knowledge into corporate knowledge which can be shared and appropriately applied in the organization. It is most commonly defined as the collective knowledge, including experience, skills, information and data of an organization. Three key factors of knowledge management are people, technology and organizational processes. This concept of management is a key activity in organizations because knowledge is considered to be the most important resource that provides competitive advantages and competitive markets.

Knowledge management aims to increase the efficiency and effectiveness of an organization, allowing employees at all levels to use their knowledge, experience and skills in order to get the right information that will enable the achievement of an organization's goals. That is, actually, the most effective usage of intellectual capital of a business

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Consumer behaviour and the marketing mix

Consumer behaviour provides a range of concepts to help fashion marketers think about their customers, and marketing research provides the techniques to measure those concepts. Consumer behaviour is also closely integrated with all other aspects of fashion marketing, but most notably with the selection of target markets and the development of marketing mixes.

The study of consumer behaviour not only provides a framework for identifying consumer needs and target markets, but it also enables the anticipation of consumer responses to marketing action. When studying the consumer the interest lies not only in describing what is the case, but also in predicting future behaviour.

Textile and fashion industry in numbers

1.          The fashion and textile industry in 2010 are 2.560 trillion $.
2. The children's fashion industry would be expected in 2014 year 186 billion $.
3. The wedding industry by 2015 year will be worth $ 57 billion.
4. Men's clothing industry is accounts for over 402 billion (2014).
5. Women's fashion industry is worth more than 621 billion $.
6. Textile manufacturing of organic cotton is worth 5 billion $.
7. The American family spend average per year 1700 $ on clothes.
8. In 2010 China has processed 41.3 million tons of fabric; it is more than 50 % of world production.
9. The Chinese textile industry produces 3 million tons of soot every year.
10. The million tons of fabric annually thrown away because they (accidentally) have the wrong colour.
11. The employment in the US textile industry last 20 years has increased by 80 %.
12. The highest wages in the textile industry are in Germany, while in the Philippines the lowest price, only 88 cents an hour.

Strategic management in the garment industry

Table of Contents:

Strategic management
- Strategy
- Strategic management
- Vision, mission and goals

Garment industry
- Garment industry
- Development

Strategic marketing in garment industry
- Marketing
- Analyse and market segmentation
- Marketing strategy
- Management of retail, wholesale and logistic market
- Diversification
- International marketing
- Internet marketing
- Knowledge management and innovations

Strategic management in garment industry
- Strategic business conditions
- Strategic planning
- PEST analysis
- Portfolio analysis
- Strategic control
- Benchmarking
- Brand strategic

Strategic methods
- Strategic methods
- SWOT
- Scenario method
- Gap analysis
- Ansoff's matrix
- Five Forces Analysis
- The McKinsey "7-S" framework
- Balanced Scorecard

Organizational behaviour
- Organizational behaviour
- Organization structure
- Organizational culture
- Motivation
- Work teams

Fashion cycle

Product research means following its life cycle, which will signal company to appropriate adjusting of production program and its upgrading in regard to quality and assortment. Adjusting can be achieved by improving existing programs or conquering and launching new products in that very moment.

Fashion cycle (duration of fashion) is different for each product – it is longer for permanent consuming goods (few years) and shorter for clothes and shoes (few months). When a product becomes a fashion one, after being launched on the market, it is necessary to make certain changes on it at the right time in order to remain such for a long period of time. While creating a new fashion style of product these things should be taken into account:

·   Costs of changing and of new production.

·    Promotion of new product on the market.

Fashion industry

Producers of clothes today do their business in conditions of rapid dynamics of changes and unstoppable trend of globalization, with many innovations and large competition. Whole world is treated as a potential source of production, and at the same time as a unique market of garments with the following characteristics:

- consumers - demands are getting bigger and changes of customers’ needs happen very quickly, thus strengthening their influence on business,

- competition - it is stronger and more able every day (every new fashion item is just a “temporary monopole”),

- new technologies - new technology, new machines and different cultures change potentials and needs,

- purchase - producers of clothes are getting more dependent on the chain of supply due to continuous changes and matching the offer to the customers’ needs, and also because of compulsory increasing of efficiency and decreasing of costs as the basis of competition (no supplies, no mistakes, no delays…),

- market - business ethics is a changeable category, and intentions and trends of competition are hard to follow.

Market analysis

Consumers today have real possibilities to satisfy their needs for products on a better way than in the past, thanks to the standard, social-economic development, technical-technological progress, modern informational systems, cultural and educational progress. Depending on their purchasing power, consumers react to fashion. Fashion trends have economic, psychological and sociological influence on consumers. Consumers will often buy a new and prestigious product which is above their purchasing power, especially a "brand" garment, hoping to identify with a certain social group by doing so, and try to achieve a certain status. They want to be different - but not too much- so for that reason they accept certain features of a fashion trend, improvising and expressing their personality at the same time.