Stakeholders' effects on emerging market’s social sustainability : A case study on Bangladesh Garments

Abstract: Emerging countries have enriched supply chains of influential multinational organizations. Business in emerging markets have led to both positive and negative outcomes. Stakeholders have a strong impact in emerging markets in relation to local communities. There have been lots of research connecting stakeholder responsibility with sustainability. Those studies have been the inspiration for this study. This research recognizes how stakeholders can contribute in the emerging market through the help of third parties. The study models the relation between CSR and stakeholders. The risk factor is more pronounces in some industries more than others, so this study primarily seeks to examine how risk factors can be mitigated in the Bangladesh garments industry.  In this case study, the qualitative method was approached and followed up by semi-structured interviews to answer the research question. The interview was held in various organizations, and 13 respondents shared their experiences through interviews. Six of the interviewees were managers from different parts of ready-made garments business and operations functions. The rest of the interviewees belong to the production floor. The interviewees answered questions related to the importance of buyers, safety regulations, and NGOs in the industry. From the findings, thematic analysis was conducted. Based on the findings, the study has concluded that engagement of third parties can impact work conditions in the examined setting. The importance of audit is underscored by in the data and seems to be instrumental for efforts of preventing accidents. To successfully develop an industry without creating negative effects on society, stakeholders need to be more involved in the safety of factory workers. Approaching this issue with third party involvement can be a useful solution for the buyer.