Global Journal of Human Social Science, E: Economics, Volume 22 Issue 7

India shifting away from the industry seeking cheap labor, Bangladesh cannot indefinitely exploit the cheap labor costs due to the increasing demands of workplace safety and compliance demands from the buyers concerning international standards, which has increased the cost of production for Bangladesh (Khatun, 2017) The tragedy involving fire in Tazreen Garments in 2012 and the collapse of the Rana Plaza building in 2013 highlighted the dire need of safety compliances (Chowdhury et al., 2018) and increase of productivity through improved working environments, job satisfaction, etc. in the industry (Abdullah, 2009). Such tragedies have not only created moral outrage from around the world and reinforced the significance and the necessity for CSR than ever before but have also exposed the laws in labor-based export industries such as the RMG industry in developing countries. The recent tragedies in developing countries have activated a range of reform initiatives and suggestions from a wide range of domestic and international stakeholders (Yardley, 2012c), but the advancement is slow. The significance of economic globalization lies in its “ability” of breaking down the national economic barriers for the spread of international trade, expansion of financial and production activities, and the rising power of MNC 4 s and international financial institutions (Khor, 2000). The concern is that globalization, particularly in developing countries, is not an indigenous procedure from either the economic or the political standpoint (Hirst and Thompson, 1996; Wade, 1996). In our study, a model Adopted from (University of Michigan, 2002) has been considered while developing the conceptual framework and questionnaire. a) Social and Economic concern The certainties of globalization and harder competitive conditions, as well as the development in the power of corporations, put pressure on businesses to scrutinize their social responsibilities and to incorporate responsible practices with their business operations (Adams, 2008; Burke and Logsdon, 1996; UNCTAD, 2011). In the Western world, auditing, reporting, and programming CSR is now an industry in its own right (Brown, 2011; Dusuki, 2008); the same cannot be said of developing countries. CSR has emerged as severe distress for the survival of this labor-intensive, export- oriented industry and Bangladesh like other developing countries is now facing the encounter to address these disputes for the sustainable growth of the industry (Rahim and Wisuttisak, 2013; Nasrullah and Rahim, 2014). Consumers are aware of the procedures followed to produce the products regarding what they would wear (Dickson, 1999; Stanforth and Hauck, 2010). To keep the companies’ brand value safe, the fashion and textile retailers require the suppliers to obey certain codes of conduct to avoid OHS 4 The focus on fashion and textiles industries for the organizational health and safety (OHS) lies on any particular subsector, for example, pregnant clothing workers in developing countries, etc. (Barnes and Kozar, scandal risks, which might also influence their financial performance in the long run. (Welford and Young, 2002; Parry et. al., 2002). 4 MNC’s-Multi National Companies 5 OHS-Occupational Health and Safety © 2022 Global Journals Volume XXII Issue VII Version I 79 ( ) Global Journal of Human Social Science - Year 2022 E Exploration of Barriers and Success Factors of Sustainability of the Bangladeshi Textile Industry at Various Stakeholders’ Level from Social, Environmental and Economical Concern