entrep mod 6

• 4 M's of Production

  • Manpower
  • Method
  • Machine
  • Materials
• Manpower

  Human labor force involved in the manufacture of products
• Manpower


  • Educational qualifications and experience
  • Status of employment
  • Numbers of workers required
  • Skills and expertise required for the job
• Materials


  Raw materials necessary in the production of a product
• Materials


  • Cost
  • Quality
  • Availability
  • Credibility of suppliers
  • Waste that the raw material may produce
• Machine


  Manufacturing equipment used in the production of goods or delivery of services
• Machine


  • Types of products to be produced
  • Production system to be adopted
  • Cost of the equipment
  • Capacity of the equipment
  • Availability of spare parts in the local market
  • Efficiency of the equipment
  • Skills required in running the equipment
• Method


  Process or way of transforming raw materials to finished products
• Method


  • Product to produce
  • Mode of production
  • Manufacturing equipment to use
  • Required skills to do the work
• Product Description


  Promotion that explains what a product is and why it's worth buying
• Product Description


  • Know your target market
  • Focus on the product benefits
  • Tell the full story
  • Use natural language and tone
  • Use power words that sell
  • Use good images
• Prototype


  Duplication of a product as it will be produced, which may contain such details as color, graphics, packaging and directions
• Benefits


  Reasons why customers will decide to buy the products
• Features


  Descriptive facts about the product or service
• Supplier


  Entity that offers goods and services to another business
• Supplier


  • Loyalty
  • Value partnership
  • Fulfillment of business objectives, mission and vision
• Value chain


  Method or activities by which a company adds value to an item, with production, marketing, and the provision of after-sales service
• Supply chain


  Structure of organizations, people, activities, data, and resources involved in moving a product or service from supplier to customer
• Supply chain management


  • Storing of raw materials
  • Handling the inventory
  • Warehousing
  • Movement of finished product from the point of processing to the point of consumption
• Business model


  Describes the reasons of how an organization creates, delivers, and captures value in economic, social, cultural or other contexts
• Developing business model


  • Identifying the specific audience
  • Establishing business process
  • Recording business resources
  • Developing strong value proposition
  • Determining key business partners
  • Creating a demand for today's generation strategy and be open for innovations
• Business plan


  Important tool to have an idea about the future of your business, guide in implementing and operating your business proposal
• Business plan can be used to secure investment capital, influence people to work for your enterprise, secure credit from suppliers, and fascinate potential customers
• Jessie


  • Eldest of five children of Mr. & Mrs. Natividad, family having difficulty supporting everyday needs, tried to enter selling banana cue without considering advice to make a business plan, stalls shutdown after a few months
• Mercy


  • Youngest in the family, found out she loves to cut hair and apply makeup, put up a beauty parlor with her mother's help in making a business plan, ended with a successful business
• Monna


  • Diligent student, used knowledge gained from school about business plan to enhance her skills in business and found herself into a laundry shop business
• Each scenario taught us that business is not just about how much income or profit you can get but it's about the life of your business
• In having a business, you also have to consider technological forces, Social forces, Political forces, Cultural forces, Economic forces and Legal forces
• Components found in a Business Plan

  • Introduction
  • Executive Summary
  • Management Section
  • Marketing Section
  • Financial Section
  • Production Section
  • Competitive Analysis
  • Market
  • Organizational chart

  
• Introduction


  Discusses what the business plan is all about
• Executive Summary


  Part of the business plan which is the first to be presented but the last to be made
• Management Section


  Shows how you will manage your business and the people you need to help you in your operations
• Marketing Section


  Shows the design of your product/service; pricing, where you will sell and how you will introduce your product/service to your market
• Financial Section


  Shows the money needed for the business, how much you will take in and how much you will pay out
• Production Section


  Shows the area, equipment and materials needed for the business
• Competitive Analysis


  Strategy where you identify major competitors and research their products, sales and marketing strategies
• Market

  The persons who will buy the product or services
• Organizational chart

  Diagram showing graphically the relation of one official to another, or others of a company
• Manpower refers to the human labor force involved in the manufacture of products
• Materials refer to the raw materials necessary in the production of a product