The Tragedy of “Fast Fashion”

Posted by & filed under Accounting Principles, Advanced Accounting, All Articles, Auditing, Cost Accounting, Financial Accounting, Financial Reporting and Analysis, Financial Statement Analysis, Fraud Accounting, IFRS, Intermediate Accounting, International Accounting, Managerial Accounting, Video Updates.

A garment factory, manufacturing products for international clothing companies, collapsed outside of Dhaka, Bangladesh, last month. The collapse killed more than 400 workers and injured many others. This tragedy came on the heels of a factory fire in November 2012, which killed 112 workers.

Questions:
1. Who are some of the chains that supply “cheap fashion” from Bangladesh?
2. Explain why the article calls it a “numbers game.”
3. From an ethical standpoint, what should consumers do?

Source:
NPR. (2013) Ethical Fashion: Is the Tragedy in Bangladesh A Final Straw? Fresh Air from WHYY, May 2 (Retrievable online at http://www.npr.org/2013/05/02/180557959/ethical-fashion-is-the-tragedy-in-bangladesh-a-final-straw)

www.RT.com. (2013). The high cost of cheap clothing, April 26 (Retrievable online at http://www.youtube.com/watch?v=8788BHbf6Xc).