How to eliminate these risks for a new project that is

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Reference no: EM133415832

Question: How to eliminate these risks for a new project that is under progress?

External risks

Customer acceptance

Customer acceptance is another danger for the clothes shop industry. As The fashion industry's trends are erratic, often changing, and frequently elusive. A profitable shop makes the most of the newest trends and anticipates when they are waning .The number of fashion manufacturers, industries, and designers is expanding, which is raising rivalry among them and eventually impacting product growth, cost, and quality.

A rise in pollution

The pollution that textile dyeing processes release is another issue. The concern with toxic waste from textile dyeing . The people flush it down into the rivers, where they bath, wash their clothes, and irrigate their food fields. . Pollution and the creation of rubbish will persist since there are no long-term solutions in sight.

Internal risks

Performance

There is no clear solution to the issue of poor working conditions for textile workers in developing countries. Low-cost manufacturers are used by fast fashion businesses to produce their products, which lowers worker salaries and fosters dangerous and abusive working conditions.

Funding safely

Attempting to launch your firm on the smallest possible scale with less funding at all might cause issues. Before you started to grow your business, you should have created a realistic budget that accounted for all of the demands of the company, including marketing.

Skilled resources

Owners should only employ and keep competent staff members that treat clients with kindness, have fashion expertise, and fit the image of the apparel the firm offers since repeat business and favourable word of mouth will boost business.

Reference no: EM133415832

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