Global Management and Cultural Diversity
Wisdom Learning From Others
> GLOBALIZATION MAKES BUSINESSES WORLD TRAVELERS
Question 1. What do Victoria's Secret, C. O. Bigelow, Bath & Body Works, White Barn Candle Co., La Senza, and Henri Bendel have in common? Their roots go back to 1963 and a small women's clothing store in Columbus, Ohio that grew to be one of the world's most admired fashion retailers—Limited Brands.
The Limited's founder, chairman, and CEO, Leslie Wexner, has been called a “pioneer of specialty brands” with “vision and focus.” He says success in a highly competitive industry comes from “better brands, best brands—I don't believe bigger is better; I believe better is better. Period.”
Question 2. Where does the Limited get its products? The answer is global sourcing; it gets them anywhere in the world where it finds quality at low cost.
The Limited's global supply chains are to be envied. But they can also be risky for brand reputation. When things go wrong, child labor exposed in a foreign supplier, for example, the brand can be badly hurt.
Wexner makes sure The Limited's global reach is tightly managed to maintain ethical standards. Supplier and subcontractor relationships are guided by clear and unequivocal standards. If you don't meet the standards, you don't work with the Limited. Suppliers are expected to operate with no prison or forced labor or child labor, ...