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    MN5339 Independent Report- Impact of Automation in Fashion Sector

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    Your assignment is to submit a 6,000 to 8,000-word research report assessing—from an Marketing perspective—the potential impact of “Subscription models”(or, alternatively, “Internet of things (IoT)” or “Big Data”) on the “Chemicals”sector (or, alternatively, the “Retail” or “Tourism” sector)....

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    Introduction

    There have been several debates over the introduction of automation in the industry and due to which we have noticed that it has been felt that the garments store and the need of the labors are in high uncertainty, due to which people are adopting other means of marketing. We understand the fact that buyer or the customers are aware about the quality and how legitimate is the price for the given item (R.C. Michelini, R.P. Razzoli, 2013). We have observed that while every issue is considered we need to check the effects and the drawbacks of the introduction of automation. As it has already been introduced and we need to check all the possibilities which might affect either negatively or for the advancement of this sector. We have our major concern associated with the implementation of automation and why it is needed. For the purpose of marketing we have observed that implementation of strategy is very important for the organization in order to ensure what can be the best method due to which we can have our business grow and introduce more products as there is no more dependency on the labor and due to automation things have become manual and easy to handle.  While dealing with the strategy it was believed that every aspect needs a proper plan to be executed in the same way as it is needed for any other industry. In the same manner, fashion industry has gained a lot of profit by the introduction of automation. So as to say, where the major concern is to gather maximum number of customers in the minimum number of time. It has made the work possible and easy for the customers to make a choice on the number of options which is favorable for the customer. There have been several change in the world due to technology and automation is one of the biggest advancement which is giving rise to the growth and development. It is hence to be seen that we are more bothered about how these changes can affect us. There are numerous factors which is responsible in order to decide and predict the customer’s needs and demands, on the contrary the competition in the market have changed the spectrum of analysis. It was sensed that the availability of labors at a very minimum cost and the area of major concern is the initial investment for the business is the thought which is attracting majority of business to adopt technology as the best solution for the business (Rajkishor N, Rajiv P, 2018) It is important to ensure which area of concern could have worked better for the industry and to ensure the needs and the demands which is being faced is important to analyze the effect and the strategies. With the change in the technology which is one of the effect of industrialization it has been known that it is the most evident effect of industrialization has caused numerous changes in the working culture of the industry and have shown inclination towards automation (World March  of Women, 2000) On every perspective we need to have a clear view on how the organization can gain maximum profit. It is important to note that the introduction of automation has always been useful from all the perspective when dealing with the agenda and goals to be taken ahead with. In order to understand and judge how best can the effect be on both the domains it is required to have a clear view on the use and the merits 

    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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