Tag: Production Process

The term factors of production relates to the key factors that go into making goods. It is common practice to break these down under a number of headings: Land Refers to physical land and...

Operating activities (or operations) are the ongoing activities that a business is involved in - e.g. processing a customers order in an Argos store, producing a biro or razor in a BIC...

Production consists of all those processes which involve converting inputs into finished outputs that can be sold in the marketplace. In order to carry out production activities you need to use up...

Critical Path Analysis (CPA) is a management tool designed to ensure the most efficient scheduling of any project. Suppose that a minor building project consists of the following activities: Activity A....1 day      essential before...

There are a number of limiting factors that determine the quantity and nature of output that a producer is able to achieve within a given time period. These are the constraints on...

The production process is concerned with transforming a range of inputs into those outputs that are required by the market. This involves two main sets of resources - the transforming resources, and the...

Specialisation is a key feature of complex industrial societies like our own. It takes place at a number of levels: the division of labourspecialisation of equipmentspecialisation by plantspecialisation by firmsspecialisation by industryspecialisation by...

Planning, control and reporting are three important aspects of effective production. Production plans set out the targets, time scales and methods of production. Targets set out quantities and types of products to...

Two major processes should come together in the preparation of a product or service for market: 1. Market research to find out what people want to buy, and how they want it 2. Product...

Introduction Intelligent businesses in the 21st century operate with an awareness of their responsibilities to all of their stakeholders, not just responsibilities to directors and shareholders, but also to customers and, perhaps most...