Fashion business management Essay Example | Topics and Well Written Essays - 1500 words

Fashion business management - Essay Example Owing to the complex dynamisms of the fashion industry, many investors have steered clear of this investment, considering it as a high risk venture, which is only given consideration by companies at later stages of their development and growth, while only very few, most predominantly individual-based ventures, are engaged in the fashion business as start-ups (Giacobello, 2000 p44). To this end, it becomes significantly essential for any individual interested in the fashion business to commit themselves to understanding all the dynamics associated with the industry, before any engagement, either as investors or managers of fashion businesses. Therefore, this discussion seeks to analyze fashion business management, with a view to establishing the sourcing strategies, as well as the cultural considerations that requires to be made, for the fashion businesses that seek to operate within the global market place. The cardinal rule for any business has always been to know the customer (Blaszczyk, 2008 p23). This rule serves to guide business in the manner of operations, requiring that the sole reason for which a business is established is to serve its customers, through understanding their needs and satisfying them. Thus, for a fashion business, the sourcing strategies are pegged on the needs of the customers, which has to do with the quality that the customers are interested in, the range of prices they can afford and able to pay for the fashion products, as well as the time within which the customers need to be supplied with the products (Gale & Kaur, 2004 p18). Thus, to fulfill the above customer requirements, a fashion business merchandiser require applying the following strategies: The fashion business is characterized by demand fluctuations, where a certain type or style of apparels or clothing could be highly demanded in a certain season, and later the demand for the same turns to be very low (Han, 2003 p33). Thus, owing to the