(Voice Alejandra Sande Belmonte) This is the fifth chapter of Entrepreneurship in Half Hour. We are going to analyse a business’s production system. In order to create value we need to acquire productive factors: natural resources, workforce and capital. An important element is the choice of the suppliers: if they fail, production collapses.
The diagrams describe how a business creates value transforming inputs into outputs. In this process, the key concept is efficiency, since the more efficient we are, the more value we can create with the same amount of resources.
Lastly, we will talk about logistics, which can be applied to buying or selling. Its importance is increasing because the customers’s ever-changing tastes and needs require a more agile and flexible production system.
Emprepreneurship in half an hour. Chapter 5. Production. customer service sprint
(Voice Alejandra Sande Belmonte) This is the fifth chapter of Entrepreneurship in Half Hour. We are going to analyse a business’s production system. In order to create value we need to acquire productive factors: natural resources, workforce and capital. An important element is the choice of the suppliers: if they fail, production collapses.
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