The Impact of Strategic Project Management on Performance of Taiwan’s Textile Industry
DOI:
https://doi.org/10.53819/81018102t4087Abstract
Organizational performance is a central and fundamental feature for the existence of an organization in the present day competing world and the organizational performance is needed to be focused in details since it is the process to increase the effectiveness of the organization. In the present day environment, there are increased complexity and uncertainty, and these have their effects on the organizational performance. Textile Industries today are very much concerned about factors that affect their performance, including the role of strategic project management within the organization as this enables the organization effectively and efficiently manage its resources. At present, Taiwan is one of the major manufacturers and exporters of textile and apparel in the world. The study established that Taiwan has invested and developed a new technology to integrate the entire value chain of the textile industry. The total production value of textiles and apparels have significantly declined by 12.31 per cent in the last five years from $14.7 billion in 2013 to $12.9 billion in 2018. Self-assessment and partner assessment is critical, and needs to be built into the overall process. These have lately presented themselves in a variety of failures that range from financial failure, epidemics, and other natural calamities; violent actions among staffs and from terrorist factions as well. The study concludes that strategic project management practices can contribute to achieve the project objectives of textile industries, in total harmony and alignment with the organizational objectives, by suggesting a set of procedures and activities that can increase the likelihood of success and the customer’s satisfaction, in addition to improving performance in terms of cost and time. The study thus recommends that, to be resilient, textile industries in Taiwan will need to use intensively strategic project management practices in turbulent and changing situations in order to survive and thrive. Strategic project management is critical to make sure that the textile sector is prepared to meet future difficulties.
Keywords: Strategic project management, Performance, Textile Sector, Taiwan
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