2.3.1 Business Operations

• businesses operate to produce products to sell:

  GOODS:

  tangible products (things you can touch)

  businesses transforms raw materials into finished goods

  SERVICES:

  these are intangible products, but often happen to you

  examples could include banking, teaching, and a haircut.
• what is production?

  production is the process of taking raw materials and turning them into a finished product.
• name 3 methods of production:

  job

  batch

  flow
• what does job production concentrate on?

  producing one product from start to finish. once the product is complete, another one can begin. it is highly specialised to meet each customers needs.