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Bangladesh Institute of Governance and Management Policy Paper On R&D Issue in RMG Sector of Bangladesh Submitted By Supervised By II | P a g e ***R&D Issue in RMG Sector of Bangladesh*** ACKNOWLEDGMENTS

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Bangladesh Institute of Governance and Management Policy Paper On R&D Issue in RMG Sector of Bangladesh Submitted By Supervised By II | P a g e ***R&D Issue in RMG Sector of Bangladesh*** ACKNOWLEDGMENTS
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    Bangladesh Institute of Governance and Management    Policy Paper   On R&D Issue in RMG Sector of Bangladesh   Submitted By   S.M. ABDULLAH-AL-HAFIZ Manager, Edgetex Ltd hafizier@gmail.com    Policy Analysis Course Batch #07 Supervised By   Dr. Chowdhury Saleh Ahmed Associate Professor BIGM Date: October 12, 2019  II | Page ***R&D Issue in RMG Sector of Bangladesh***    ACKNOWLEDGMENTS First and foremost, I would like to thanks to the almighty Allah who is creator of everything and without his intention nothing can be initiated. Then, I would like to extend my cordial thanks to my mentor Dr. Chowdhury Saleh Ahmed, Asst. Professor BIGM for his kind guidance. He has been a continuous source of inspiration and encouragement and under his advice; this journey of my policy paper has been incredibly exciting and smooth. I would also like to mention the name of Dr. Mohammad Tareque, honorable director of BIGM. He has always boosted our (participants of policy analysis training course) morale by providing detailed comments and suggestions to ensure that we learn the basics of public policy. I am glad to be able to extend my special thanks to him. I am also gratified to chief coordinator Mr. Pranab Chakrobarty for his patience, kind co-operation and assistance all through the training. And also would like to extend my sincere thanks to all staff members of policy analysis training course in BIGM. I express my gratitude to my family and honorable Managing Director of Edgetex Ltd, who has gave me chance to complete this course. Also thank to my family I am fully responsible for all the errors and omissions, if any, in this policy paper. Thanks S.M. ABDULLAH-AL-HAFIZ     III | Page ***R&D Issue in RMG Sector of Bangladesh***   EXECUTIVE SUMMERY The term R&D is widely linked to innovation both in the corporate and government world or the public and private sectors. R&D allows a company to stay on top of its competition. Without an R&D program, a company may not survive on its own and may have to rely on other ways to innovate such as engaging in mergers and acquisitions or partnerships. Through R&D, companies can design new products and improve their existing offerings. R&D is separate from most operational activities performed by a corporation. The research and/or development are typically not performed with the expectation of immediate profit. Instead, it is expected to contribute to the long-term profitability of a company. R&D may lead to patents, copyrights, and trademarks as discoveries are made and products created. Companies that set up and employ entire R&D departments commit substantial capital to the effort. They must estimate the risk-adjusted return on their R&D expenditures—which inevitably involves risk of capital—because there is no immediate payoff, and the return on investment (ROI) is uncertain. As more money is invested in R&D, the level of capital risk increases. Other companies may choose to outsource their R&D for a variety of reasons including size and cost. The readymade garments (RMG) industry is the backbone of the economy of Bangladesh and work as a catalyst for the development of the country. That is why, sustainability of RMG sector is the extreme necessity of the growing economy of Bangladesh. This paper has been showed to explore selected sustainability dimensions of this important sector of the growing economy of this country. The main tools for this paper include secondary literature review and interview. Shockwaves were sent worldwide after the loss of 1,136 lives when Rana Plaza collapsed on 24 April 2013. This incident occurred just months after the fatal fire at  IV | Page ***R&D Issue in RMG Sector of Bangladesh***   Tazreen Fashions in which 112 died. It was noticeable that the Ready Made Garment (RMG) sector of Bangladesh had reached a crucial juncture. These incidents have been the wake-up call for concerned quarters in recognizing the necessity of improving occupational safety and working condition in RMG factories. To maintain the confidence of the global buyers and to safe guard the lives of near about four million workers fundamental changes relating to safety, inspection, compliance, product innovation, market search had to be made to do business in descent manner. After that devastating industrial accident of the world, Government of Bangladesh, US government, Private sectors, BGMEA, BKMEA, International Labor Organization, International Buyers, Civil society, NGO, Development partners decided to work together to improve conditions of the garment factories in the country. Cooperation and collaboration between related stake holders for rights and workplace safety of workers are the necessity of the present moment. Improving worker and consumer welfare by upgrading skills and literacy should be a regular practice of the concerned stakeholders. Government must steer the total process along with all other related parties. RMG sector of Bangladesh requires increase more productivity through Development of Workers Skill, Reducing Delivery Lead time, Variation of Product & Design, Diversified uses of Raw Materials, and as well as Uses of new/modern Technologies . These will concerted efforts to attract foreign direct investment, to encourage investment and export diversification. Searching of nontraditional market besides traditional export destinations is one of the fundamental requirements for the sustainability of RMG sector of Bangladesh. If government can offer good governance to its citizens, no one will feel any necessity to raise her/his voice. And country will continue in peace and harmony. That will bring sociopolitical stability along with sustainable growth in every quarter in the country particularly for the RMG.  V | Page ***R&D Issue in RMG Sector of Bangladesh***   TABLE OF CONTENTS ACKNOWLEDGMENTS  ............................................................................................. II EXECUTIVE SUMMERY  ........................................................................................... III TABLE OF CONTENTS  .............................................................................................. V LIST OF ACRONYMS  ............................................................................................... VII LIST OF TABLES  .................................................................................................... VIII LIST OF FIGURES  .................................................................................................... IX CHAPTER 01: FIND OUT THE PROBLEM .................................................................. 1 1.1 Identify the Problem ..................................................................................... 1 1.2 Define the Problem ....................................................................................... 2 1.3 Conceptualization / Operationalization of the Problem ................................ 3 CHAPTER 02: CONTEXT ANALYSIS ........................................................................... 6 2.1 Present Situation of the RMG Industry .......................................................... 6 2.2 Stake Holder Analysis .................................................................................... 9 2.3 SWOT Analysis ............................................................................................ 10 2.4 PESTELE Analysis ......................................................................................... 15 2.5 Methodology .............................................................................................. 16 2.6 Limitations .................................................................................................. 16 CHAPTER 03: PROBLEM ANALYSIS ........................................................................ 17 3.1 Cause and Effect ......................................................................................... 17 3.2 PROBLEM TREE ........................................................................................... 19 CHAPTER 04: OBJECTIVE ANALYSIS ....................................................................... 20 4.1 Means/Possible Options ............................................................................. 20 4.2 Objective .................................................................................................... 22 4.3 Goals .......................................................................................................... 22 CHAPTER 05: OPTION ANALYSIS ........................................................................... 23 5.1 Policy Options ............................................................................................. 23 5.2 PESTEL Analysis for Choosing the Best Option (Pointing Method) ............... 23 5.3 PESTEL Analysis for Choosing the Best Option (Weight score Method) ....... 24 5.3 Multi Criteria Analysis (MCA) for Choosing the Best Option ........................ 25 5.4 Preferred Policy Options ............................................................................. 28
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