4 M’s OF OPERATIONS IN RELATION TO THE BUSINESS OPPORTUNITY AND DEVELOPING BUSINESS MODEL Flashcards
(23 cards)
- a name, symbol, or other feature that distinguishes a seller’s goods or services in the marketplace
Brand name
- human labor force involved in the manufacture of products
MANPOWER
- raw materials necessary in the production of a product
MATERIAL
- process or way of transforming raw materials to finished products
METHOD
- manufacturing equipment used in the production of goods or delivery of services
MACHINE
- explains what a product is and why it’s worth buying?
- to provide customers with details around the features and benefits of the product
Product Description
- duplication of a product as it will be produced, which may contain such details as color, graphics, packaging and directions
Prototyping
- an entity that offers goods and services to another business
Supplier
is among of supply chain of a business, which may offer the main part of the value contained within its products
entity
your business partners
Suppliers
- method or activities by which a company adds value to an item, with production, marketing, and the provision of after-sales service
Value chain
- structure of organizations, people, activities, data, and resources involved in moving a product or service from supplier to customer
Supply chain
- company’s plan for how it will make revenues and make a profit
Business model
- guide in the moment you will be implementing and operating your business proposal
Business plan
components found in a Business Plan:
- the diagram showing graphically the relation of one official to another, or others of a company
Organizational chart
components found in a Business Plan:
- person who will buy the product or services
Market
components found in a Business Plan:
- identify major competitors and research their products, sales and marketing strategies
Competitive Analysis
components found in a Business Plan:
- shows the area, equipment and materials needed for the business
Production Section
components found in a Business Plan:
- shows the money needed for the business
Financial Section
components found in a Business Plan:
- shows the design of your product/service; pricing, where you will sell and how you will introduce your product/service to your market
Marketing Section
components found in a Business Plan:
- how you will manage your business and the people you need to help you in your operations
Management Section
components found in a Business Plan:
- the first to be presented but the last to be made
Executive Summary
components found in a Business Plan:
- discusses what is the business plan all about
Introduction
