ASSIGNMENT:
Textile industry is considered as the backbone of Pakistan industry, and it is like the shining star of Pakistani industry in terms of eminence, value and profitability. Moreover major portion of Pakistani exports are from the textile related products. But in recent year's investors and stakeholders are very much concerned on the declining profitability of textile industry due to numerous problems of our country like increased cost of raw materials used and drastic power crisis. Despite of all these severe challenges rigorous competition is still prevailing among the major textile manufacturers of Pakistan. Safa Textiles Limited (STL) Karachi is a well-known name in the textile industry of the Pakistan. They have well-equipped stitching and home textile division, where a vast range of home textile products are manufactured and exported. STL has recently received a massive order of home textile fabrics from Russia. Head of Operational Planning & Control department of the company probed the management that the power shortages in the industrial sector are hampering their manufacturing. So it was decided that in order to complete the order within specified time working hours would be increased. Management accepts his proposal and decides to go for long working hours to complete order well before deadline. But employees were not cooperating because they were having some reservations about this decision of top management, and the result was in delay more problems for the management. Keeping the above mentioned scenario in mind, you are required to answer
following questions:
1. Identify the type of the perceptual bias that exists in this given situation along with its main reasons?
2. In your opinion, how management of Safa Textiles Limited (STL) can tackle this situation? Mention at least two strategies.