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    Q4M1

    Uploaded by

    Klyn Aganan
    entrepreneurship the 4'MS in production

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    © All Rights Reserved
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    Q4M1

    Uploaded by

    Klyn Aganan
    16 views54 pages
    entrepreneurship the 4'MS in production

    Copyright

    © © All Rights Reserved

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    PPTX, PDF, TXT or read online from Scribd

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    entrepreneurship the 4'MS in production

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    16 views54 pages

    Q4M1

    Uploaded by

    Klyn Aganan
    entrepreneurship the 4'MS in production

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 54

    4 M’S OF

    PRODUCTION
    AND BUSINESS
    MODEL
    4 M’S OF
    PRODUCTION
    AND BUSINESS
    MODEL
    An entrepreneurial venture may either be a sole
    proprietorship, a partnership, or a corporation, engaged in
    merchandising, manufacturing, or service. Nevertheless,
    whatever type and nature of business ventures is opened to
    exploit different business opportunities, innovation or
    creativity defines the distinction between an entrepreneur
    and an ordinary business person.
    Thus, the concept of innovation or creativity must, in
    almost all instances, be introduced and practiced. An
    entrepreneur finds way to introduce innovation from the
    production process to the marketing stage, while an ordinary
    businessperson simply imitates business practices and
    procedures.
    The concept of innovation or creativity can easily be
    practiced and highly noticeable in a manufacturing operation
    since raw materials are transformed to finished goods through
    the production process. Innovation can be introduced from the
    production phase up to packaging and delivery.
    The three important elements in the production system
    are; the input, the transformation of production process and
    the output.
    The Input includes the following:
    1. Manpower
    2. Materials
    3. Machine
    4. Design
    5. Instructions
    The Production process, also referred to as the
    transformation or conversion process, is the stage of
    production where the materials are transformed into the
    final product with the aid of manpower and machine.

    The output represents the final product from the


    production process and distributed to the customers.
    4 M’S OF
    PRODUCTION
    MANPOWER
    Manpower talks about human
    labor force involved in the
    manufacture of products. It is
    measured as the most serious and
    main factor of production. The
    entrepreneur must determine,
    attain and match the most
    competent and skilled employees
    with the jobs at the most
    appropriate time period.
    MATERIALS
    It simply refers to the raw
    materials necessary in the
    production of a product.
    Materials mainly form part of
    the finished product. Just in
    case the resources are below
    standard, the finished product
    will unsatisfactory as well.
    MACHINE
    Machine is about
    manufacturing equipment used
    in the production of goods or
    delivery of services.
    METHODS
    Method or production method is the process or way of
    transforming raw materials to finished products. The
    resources undergo some stages before it is finalized and
    become set for delivery to the target buyers. The selection
    of the method of production is dependent on product to
    produce, mode of production, manufacturing equipment
    to use and required skills to do the work.
    Value chain is a method or
    activities by which a company
    adds value to an item, with
    production, marketing, and the
    provision of after-sales
    service. The main goal and
    benefit of a value chain, and
    therefore value chain analysis,
    is to make or support a
    competitive benefit.

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