Critical Success Factors: A Study of Readymade Manufacturing Garments' (RMGs) Entrepreneurs in Bangladesh

Abstract

The role of textile industry is found very prominent in both developed and developing countries in the pace of industrialization. Readymade Manufacturing Garments (RMGs) has played a significant role in the process of economic development in general and industrialization in particular. Garments are the country's biggest export making up about three quarters of total exports, and the industry is a symbol of the country's dynamism in the world economy. The growth of RMGs in Bangladesh is a comparatively recent one. Hence, the present study is initiated on "Critical Success Factors: A Study of Readymade Manufacturing Garments (RMGs) in Bangladesh with samples of fifty garments' entrepreneurs in Chittagong port city. Secondary literature reviews and primary data collections methods were used to conduct the study. Multivariate analysis using "Varimax Rotated Factor Analysis Technique" has been used to analyze the data. The results show that, three factors extracted from the analysis that together accounted for 68.096 percent of ihe total variance. These factors were labelled as seeking opportunity, persuasion and ethics and honesty respectively.