Entrepreneurship Module 4

Pertains to the interrelated business functions of production, procurement, and distribution of the goods/services

Refers to the process of manufacturing a product or producing a service to be offered to target customers.

Refers to sourcing supplies required for production or service delivery, including the proper handling and storage of the inventory goods.

Refers to the physical transport of materials and communications involved in reaching the target customers.

Which of the following is not included in the 4M's of Business?

Pertains to all supplies and materials necessary to produce your product or perform your service.

Discusses about manufacturing equipment used in the production of goods or delivery of services.

Refer to the clear, detailed, and well-organized procedures or systems involved in production. Includes the step-by-step procedures in making your product or service, which you have carefully studied before doing them.

Pertains to the workforce needed to perform the operations’ functions.

It is measured as the most serious and main factor of production