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    Operations Management

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    (a) For the banking industry discuss the external factors which are impacting on the industry. (b) Also, discuss the responses of the industry to each of the factor and indicate whether the industry has been successful or not in meeting the challenges offered by these factors. Your assignment should include the following: • Introduction • A short literature review on external factors impacting on an industry. • Discussion of factors impacting on the particular industry you have chosen. (Note an industry is a group of firms operating in a given sector and it is not...

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    The objective of the assignment is to understand the certain factors impact an industry’s operational management. The factors are mostly external and they have been elaborated with supporting examples. It is also to be observed in what manner these external factors affect a chosen industry and how they respond to the challenges posed by these external factors. It is also to be indicated by the subsequent discussions whether the challenges posed by the external factors have been successfully dealt with or not. The external factors have been discussed with respect to PESTLE and SWOT analysis, which would help in knowing how the external factors play an important role in the day-to-day operations of the banking industry. Although there are both internal and external factors that affect the banking industry, the external factors pose a serious issue when it comes to operational management.

    This report aimed to develop a critical understating of the various accounting software by evaluating the cloud-based accounting software in regards to businesses and then suggest the most appropriate accounting software to a chosen company such as Woolworth. The findings of the current report reflected that the company has key activities like manage, organize, maintain its store staff, develop various strategies for the business, billing for their products, maintain their transactions, and records them and handle their conflicts, etc. Similarly, its other activities related to revenue and expenditure cycle also includes sales and purchase related practices. Moreover, some internal controls are found weak in Woolworth due to which company has risks like segregation of duties, major frauds, poor corporate governance, improper monitoring of managerial opportunistic behavior.

    This report aimed to develop a critical understating of the various accounting software by evaluating the cloud-based accounting software in regards to businesses and then suggest the most appropriate accounting software to a chosen company such as Woolworth. The findings of the current report reflected that the company has key activities like manage, organize, maintain its store staff, develop various strategies for the business, billing for their products, maintain their transactions, and records them and handle their conflicts, etc. Similarly, its other activities related to revenue and expenditure cycle also includes sales and purchase related practices. Moreover, some internal controls are found weak in Woolworth due to which company has risks like segregation of duties, major frauds, poor corporate governance, improper monitoring of managerial opportunistic behavior.

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