4 M’s of Production and Business Model; Forecasting Revenues of The Business

Question 1

Enumeration

What are the 4 M’s

Answer 1

• Manpower
• Method
• Machine
• Materials

Question 2

Identification

Talks about human labor force involved in the manufacture of products.

Answer 2

Manpower

Question 3

Identification

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

Answer 3

Manpower

Question 4

Enumeration

What are some of the manpower criteria that must be highly considered by the entrepreneur.

Answer 4

Educational qualifications and experience, status of employment, numbers of workers required, skills and expertise required for the job

Question 5

Identification

Talks about raw materials necessary in the production of a product.

Answer 5

Material

Question 6

Introduction

Mainly form part of the finished product.

Answer 6

Materials

Question 7

Identification

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

Answer 7

Machine

Question 8

Identification

discusses the process or way of transforming raw materials to finished products. The resources undergoes some stages before it is finalized and becomes set for delivery to the target buyers

Answer 8

Method

Question 9

Identification

This is dependent on product to produce,
mode of production, manufacturing equipment to use and required skills to do
the work.

Answer 9

Method

Question 10

Identification

Is the promotion that explains what a product is and why it’s worth buying?

Answer 10

Product Description

Question 11

Identification

A duplication of a product as it will be produced, which may contain such details as color, graphics, packaging and directions.

Answer 11

Prototyping

Question 12

Identification

This is one of the important early steps in the
inventing process

Answer 12

Prototype making

Question 13

Identification

is similar to a sample of the product or service given to the consumer free of cost in order that he/she may try the product before committing to a purchase.

Answer 13

Pretesting

Question 14

Identification

An entity that offers goods and services to another business.

Answer 14

Supplier

Question 15

Identification

This entity is among of supply chain of a business, which may offer the main part of the value contained within its products.

Answer 15

Supplier

Question 16

Identification

In here, goods directly shipped to the customers of the buyer

Answer 16

drop shipping

Question 17

Identification

They are your business partners, without them your business will not live. You need them as much as you need your customers to be satisfied.

Answer 17

Supplier

Question 18

Identification

is a method or activities by which a company adds value to an item, with production, marketing, and the provision of after-sales service

Answer 18

Value chain

Question 19

Identification

is a structure of organizations, people, activities, data, and resources involved in moving a product or service from supplier to customer.

Answer 19

supply chain

Question 20

Identification

This includes management of a varied range of components and procedures, for instance, storing of raw materials, handling the inventory, warehousing, and movement of finished product from the point of processing to the point of consumption.

Answer 20

Supply Chain

Question 21

Identification

This describes the reasons of how an organization creates, delivers, and captures value in economic, social, cultural or other contexts.

Answer 21

Business model

Question 22

Identification

This is an important tool for you to have an idea about the future of your business.

Answer 22

Business Plan

Question 23

Part of Business Plan

this part discusses what is the business plan all about.

Answer 23

Introduction

Question 24

Parts of a Business Plan

is part of the business plan which is the first to be presented but the last to be made

Answer 24

Executive Summary

Question 25

# **Parts of a business plan** shows how you will manage your business and the people you need to help you in your operations.

Answer 25

Management Section

Question 26

# **Parts of 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.

Answer 26

Marketing Section

Question 27

# **Parts of a Financial Plan** shows the money needed for the business, how much you will take in and how much you will pay out.

Answer 27

Financial Section

Question 28

# **Business Plan** shows the area, equipment and materials needed for the business.

Answer 28

Production Section-

Question 29

# **Business Plan** is the strategy where you identify major competitors and research their products, sales and marketing strategies.

Answer 29

Competitive Analysis

Question 30

# **Business Plan** The persons who will buy the product or services

Answer 30

Market

Question 31

# **Business Plan** Is the diagram showing graphically the relation of one official to another, or others of a company.

Answer 31

Organizational chart

Question 32

# **Enumeration** refers to the total income a business earns from selling its products or providing services, and it serves as a key indicator of financial performance and stability.

Answer 32

Revenue

Question 33

# **Identification** It is the process of estimating how much income a business is expected to generate in the future based on past sales, market trends, and external factors that may influence earnings.

Answer 33

Revenue Forecasting

Question 34

# **Enummeration** FACTORS TO CONSIDER IN FORECASTING REVENUE

Answer 34

* ECONOMIC CONDITION OF A COUNTRY * THE COMPETING BUSINESSES OR COMPETITORS * CHANGES HAPPENING IN THE COMMUNITY * THE INTERNAL ASPECT OF THE BUSINESS

Question 35

# **Identification** Extra cost added to the price of a product

Answer 35

Markup