2. THE CONCEPT OF
PRODUCTION
Production in contemporary times
really refers to creation of products or
services and conversion of
transformation of resources into a
finished physical product (goods) or
services needed by the market or
consumers.
3. For entrepreneur, mind-setting is
important in going into a self-
owned business. This mind-setting
stage means that, among others,
one has to realize weather the
entrepreneur has to take the route
via hardware production as in the
context of what technical
production/manufacturing where
output is physical products or
goods.
5. Production or
creating services is a
very challenging
option for
entrepreneur as this
is where an innovative
and creative mind is
really tested to be
limits.
6.
7. WHAT PRODUCT TO
PRODUCE
For market-
oriented
entrepreneur, the
question of what to
produce or
manufacture boils
down to the question
of what to sell.
8. What product to produce of
what service to render to
meet the needs of the market
is by itself the bias of the
entrepreneur? Even before
ascertaining in writing or
doing the business plan (if
needed this has to be done)
11. This option is a bit
expensive route for the
entrepreneur simply
because the need to budget
funds for the procurement
of capital items and other
infrastructure need for a
production or
manufacturing-based
business concern.
13. In the business plan,
specific study and analysis
of every minor detailed of
the production processes
have to be carefully made as
this is where cost
minimization aspects can be
addressed.
14. By using the appropriate
production technology, the
entrepreneur should be able
to hire the appropriate
personnel well qualified and
motivated to operate the
machines and deliver the
right quality of product.
15. Source of skill Production
0Books
0Literatures
0Documents of producing
or manufacture
21. Sub-contractors are
subject to strict quality
control measures with
subcontractors threatened
with penalties and
sanctions when turning in
underquality finished
products.
