While the signing of agreements is a good indication of goodwill, it is essential to consider other issues which will guarantee that employees are treated in the best way possible. Signing go many agreements is however no guarantee that safety is going to improve. Yet, these agreements only make the relationship between workers and employers to be tortuous. It cannot be stressed enough that such unfortunate events as the Rana Plaza accidents are unacceptable in any way. In this regard, firms and industries must be able to have a good way for protecting their workers (Ehap & Salim, 67). Manufacturers must not depend on rules and laws in order to protect human life. Human life is way too important, and the value of human life should not be valued based on econometrics. This means that these firms need to be able to look at these issues in a better way rather than just creating rules and laws and loo at worker safety in a very serious way. In a modern business world, competition has continued to increase in this regard; there are many strategies which are mean to help in making sure that businesses are competent. In this regard, business experts has developed the value chain process is the life cycle a product goes through until the product gets to the end consumer (Ehap & Salim, 66). This process is a definition of the costs which the firms will have to incur in order produce a finished item. In other words, the many businesses are geared towards making sure that the firm can present the best quality of their merchandise to their consumer while offering them the best price possible. This has led to businesses trying as much as possible to reduce their operational costs (Ehap & Salim, 78). In this case, human resource has been affected because firms have tried as much as possible to reduce the cost of human labour, leading to firms in the first world to outsource their labour aboard (especially in China) in order to have cheap labour. This means that events such as the Rana Plaza industrial accident can be traced back to the consumer. To prevent this in the future, it is necessary to involve the consumer and help them understand the real cost of the product thy use. Some cheap products in the market are paid for in blood because humans have been abused to make these products. This can be seen in the way the Chinese sweat houses are used to make low cost garments. This has been seen in other various cases such as in Apple Inc., Nike etc. Consumers need to be educated about these issues and encouraged to avoid blood-products (in other words, products whose real cost is human blood.) by educating the end consumers on these issues it will be possible to avoid instances such as the Rana Plaza. In doing so, firms must be forced to reveal the actual cost structure of producing their products in order to identify any blood cost in their production of goods or in their value chain. From a single business point of view, there is therefore a need to create a solution which is not really considerate of the economic efficiency. Businesses have responsibilities which are tied to various stakeholders and these responsibilities must be met before economic efficiency can be considered. However, in the long run, focusing on these responsibilities will also help individual businesses to save in the long run. A firm
Name: University: Tutor: Course: Date: Rama Plaza Building Collapse Losing a human life is usually regrettable. The industrial accident at Rana Plaza in Dhaka is one unfortunate event, and it will always be a memory that firms need to be able to improve the security of the workers in any situation…
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