Entrepreneurship 4th Quarter Module 6

It simply refers to the raw materials necessary for the production of a product. The entrepreneur may consider cost, quality, availability, the credibility of suppliers, and waste.

talks about human labor force involved in the manufacture of products. It is measured as the most serious and main factor of production.

The physical output of the whole production process. It should be valuable and beneficial to the consumers and should satisfy their basic needs and be identified from other products.

The process or way of transforming raw materials into finished products. Dependent on the product to produce, mode of production, manufacturing equipment to use, and required skills to do the work.

In a manufacturing venture, it/they plays a vital role. They are your business partners, without them your business will not live. You need them as much as you need your customers to be satisfied. You need to choose who has loyalty and values your partnership.

A product that has dissimilar characteristics, parts, and physical appearance. It can easily be identified from other products.

Has a physical appearance, taste, or chemical content that can hardly be distinguished from that of the other products.

Manufacturing equipment used to produce goods or deliver services.

Promotes and explains what a product is and why it's worth buying. The purpose of it is to provide customers with details about the features and benefits of the product so they're obliged to buy.

Created before the massive production of such product. One of the important early steps in the inventing process. A duplication of a product as it will be produced.