An Ethical Sustainability Model for the Ready-Made Garments Enterprises in Bangladesh

Abstract

The primary purpose of this study is to assess the policies that affect the ethics of business and draw recommendations for an ethical and sustainable policy for the improvement of Business Sustainability in Bangladesh’s RMG sector. The RMG sector is crucial to Bangladesh’s economy, being the backbone and providing the highest export earnings. A PST (Purposive Sampling Technique) was used to collect the data by conducting self-administered surveys completed by 279 participants from 20 RMG companies situated in five different areas. The potentials and perspectives given in the feedback are practical in terms of ethics and the present tendencies in the field. The research shows a strong positive link between an ECC (Ethical Code of Conduct) and BS (Business Sustainability) (r = 0. 256) and an even more substantial correlation for CSR (Corporate Social Responsibility) (r = 0. 355). Ethical leadership also demonstrates a positive relationship with business sustainability (r = 0.282). Additionally, there is a weaker but still positive connection exists between BS and NG (New Governance) (r = 0. 168). Such findings highlight the importance of ethical business regulation since it can be instrumental in enhancing Bangladesh RMG firms’ sustainability. Managers, who play a critical role in this process, are particularly important in retaining experienced employees and promoting ethical practices. This study underscores the need for robust ethical frameworks to ensure the long-term sustainability and competitiveness of the RMG industry in Bangladesh. Bangladeshi enterprises participating in such RMG industry must imitate sustainable studies in their operations to gain a competitive benefit in the market and develop sustainable value propositions.