Ladies and gentlemen, in today’s talk, we will look at a fundamental topic, ‘Responsible businesses, following the tragedy of Rana plaza in Bangladeshi. Management of the business organization is something that needs close attention. I am an expert in the presentation of this topic; I have ten years of experience in the business industry here in Dakar, Bangladesh. As a business person, y journey has been guided by honesty and trustworthiness. Honesty has been my policy while dealing with clients and ensuring that I meet the client’s specifications. Hence if my age does not convince you that my generation does not convince you that I know what I am talking about, at least consider that I am an entrepreneur and I only need the best from you. This presentation aims to elaborate on how responsible businesses are managed, risks associated with such companies, and how such risks are dealt with according to the tragedy of Rana Plaza and its effects on the business industry. I must involve you all in my talk because the talk shall inject new business skills in you, challenges that businesses come across and how you as a businessman can handle such challenges. My brothers and sisters, for how long, shall a single challenge continue affecting our company up to the point of giving up? Why can’t we rise strong and look for the solution to the challenge? The talk is critical for us to avoid such issues.
Ladies and gentlemen, you will never be satisfied if you don’t take the opportunity. Do you want to live the rest of your years wondering to know what would have happened if you just jumped when you had the chance? The situation at Rana plaza could have led to the collapse of many business organizations in the industry, both private and public business organizations (Bossavie et al., p. 9065). The reaction from business people, the government, and international aid impacted the tragedy and, with the immediate response, forced the country to manage the situation. My brothers and sisters, if it were you and all of your business got demolished, what can you do? Should you have just given up and let the company go, or could you have risen vital for our business? We all recall all that happened; many people lost got, injuries, destruction of property, including demolishing businesses of people who depended on such firms to earn their living. (Mamun & Griffiths, p. 107 ) The victims rose with new skills, and a new beginning was being announced in the country, for example, a business lady dealing with the clothing industry. Still, after the incident, she was in a position to curb the situation. It is upon us to take every life chance positively and rise against setbacks for a better life.
More than fifty peer-reviewed studies have been conducted over the past ten years, and it has been proved that responsible business is adequate for the well-being of society. According to the research conducted in Bangladeshi, following the Rana Plaza tragedy forcing millions of companies to be affected (Kabir et al., p. 226), the government of Bangladeshi together with the international labor and international trade unions, took the matter responsibly upon them and came together to raise the standards of safety in the country. Due to that collaboration, experts and engineers have been inspecting industries in the country and ensuring they are up to the standards. It has been noted that profitability of businesses into the country as buyers have been assured safety in the country. (Hossain, p. 520)
Furthermore, for the past fifteen months, more than one hundred and thirty-two trade unions have been registered compared to only two over the past three years. Lastly, labor laws have been amended, leading to four new hundred inspectors positions (Hossain & Oh, p. 146). The country has responsibly helped the causalities of the tragedy by attending counseling; (Kabeer et al., p. 3061); teachings have facilitated this in theatre promoted by the government. Victims have claimed that the government has helped them overcome the trauma through this. (Rahman & Rahman, p. 1332) Therefore the country has risen above the challenge, and through this, they have gained a lot of profits.
Ladies and gentlemen, concerning this topic, responsibility in a business is a critical aspect that needs to be considered. From what we have seen in the country, all of them came together, including international labor organizations and trade unions, to help in the situation. Risk management in a business is a must for every business person or organization (Elahi et al., p. 212). For everyone, let’s all accept and take risks positively and not negatively. The way we handle challenges that we come across should be responsible enough that it won’t bring more trouble. In my journey as a businessman, I come across risks such as the collapse of my business. Still, I took it upon myself, handled the situation more responsibly, and overcame the problem. From the above topic, it is also important to accept help from other people willing to help us. Business is all about profits and enjoying the work of our hands.
In conclusion, ladies and gentlemen, responsibility in a business should not be something to joke about or ignore its adverse effects. As we have seen from the case of the fall of Rana plaza, no one took it slightly; the government, with the help of international laws and trade unions, acted immediately and restored the business condition of the country. The quick and responsible reaction led to the creation of more inspectors and an increase in trade unions compared to earlier statistics. All I can tell you today, my brothers and sisters, what I have discovered and learned in this World is that you can’t do it alone. Be open to collaboration because other people’s ideas are often better than yours.
Bossavie, L., Cho, Y. and Heath, R., 2019. The effects of international scrutiny on manufacturing workers: Evidence from the Rana Plaza collapse in Bangladesh. World Bank Policy Research Working Paper, (9065). Bossie, Laurent, and Cho, Yoonyoung and Heath, Rachel, The Effects of International Scrutiny on Manufacturing Workers: Evidence from the Rana Plaza Collapse in Bangladesh (November 20, 2019). World Bank Policy Research Working Paper No. 9065, https://ssrn.com/abstract=3491255
Mamun, M.A., and Griffiths, M.D., 2019. PTSD-related suicide six years after the Rana Plaza collapse in Bangladesh. Psychiatry Research. http://irep.ntu.ac.uk/id/eprint/38107/1/1211849_Griffiths.pdf
Kabir, H., Maple, M., and Fatema, S.R., 2018. Vulnerabilities of women workers in the readymade garment sector of Bangladesh: A case study of Rana Plaza. Journal of International Women’s Studies, 19(6), 224-235. https://vc.bridgew.edu/jiws/vol19/iss6/14
Kabeer, N., Haq, L. and Sulaiman, M., 2019. Multi-stakeholder initiatives in Bangladesh after Rana Plaza: global norms and workers’ perspectives. http://hdl.handle.net/10361/15845
Hossain, Naomi. “Rana Plaza, disaster politics, and the empowerment of women garment workers in Bangladesh.” Contemporary South Asia 27, no. 4 (2019): 516-530. https://doi.org/10.1080/09584935.2019.1683719
Rahman, S. and Rahman, K.M., 2020. Multi‐actor initiatives after Rana Plaza: Factory managers’ views. Development and Change, 51(5), pp.1331-1359. https://doi.org/10.1111/dech.12572
Elahi, S., Hosen, M.D. and Nizam, M.E.H., 2019. Comparative analysis in RMG industries before and after Rana Plaza incident in Bangladesh. J Textile Eng Fashion Technol, 5(4), pp.202-211. DOI: 10.15406/jteft.2019.05.00203
Hossain, S. and Oh, K., 2019. Changes in Total Factor Productivity and Technical Efficiency of Bangladesh RMG Industry Focused on Rana Plaza Tragedy. 경영경제연구, 41(4), pp.145-169. https://www.researchgate.net/profile/Sumon-Hossain-2/publication/341452373_changes_in_total_factor_productivity_and_technical_efficiency_of_Bangladesh_RMG_industry_focused_on_Rana_plaza_tragedy/links/5ecf32374585152945183266/changes-in-total-factor-productivity-and-technical-efficiency-of-Bangladesh-RMG-industry-focused-on-Rana-plaza-tragedy.pdf