TVE 12 Entrepreneurship 1st Sem Finals Module 1 (Bontilao) PDF

Week 1 The 4M’S of Operations Senior High School The 4M’S of Operations Week 1  The 4M’s of Operations Learning Outcomes: 1. Describe the 4M’s (Manpower, Method, Machine and Materials) of operations in relation to the business opportunity 2. Dev...

Week 1 The 4M’S of Operations Senior High School The 4M’S of Operations Week 1  The 4M’s of Operations Learning Outcomes: 1. Describe the 4M’s (Manpower, Method, Machine and Materials) of operations in relation to the business opportunity 2. Develop a product description 3. Create a prototype business product 4. Forecast the revenues of the business 5. Compute for profits Learning Outcome No. 1 Describe the 4M’s of Operation in Relation to the Business Opportunity Learning Objectives: 1. Identify the 4M’s of operations in relation to business opportunity 2. Distinguish the 4M’s of operations 3. Develop entrepreneurial spirit in business opportunity What I Know: Read the questions carefully. Choose the letter of the correct answer. 1. The following below are examples of an equipment except? A. Welding machine C. Meat grinder B. Wine opener D. Hair steamer 2. Which of the following is an example of a packaging material? A. Welding rod C. aluminum can B. Baking sheet D. Hair trimmer 3. Home baking and is what type of manufacturing site? A. Commercial rent C. input B. Commercial purchase D. home based 4. Which of the following refers to the process and ways to be followed in effectively in delivering a product or service? A. Method C. Manpower B. Machine D. Materials 5. Which of the following refers to the type of resources needed to produce or manufacture a product including the packaging? A. method C. materials B. machine D. manpower 6. It can be made of paper, plastic, aluminum or other materials for protection of the product against temperature, crushing, moisture. A. equipment C. staffing level B. packaging D. production planning 7. Which content of production is concerned with the materials? A. machine C. equipment B. manpower D. shelf life 8. Which of the following is the process of translating raw materials into finished goods or product that is acceptable to customer standard? A. manufacturing C. marketing B. merchandising D. purchasing 9. The transformation phase of manufacturing where inputs are processed. A. input C. machine B. output D. process 10. Which of the following refers to the final product of the process stage which is intended to be sold to target customers? A. input C. output B. process D. equipment 11. What term refers to the ideal number of people, trained personnel and staff to perform the methods? A. method C. machine B. manpower D. materials 12. Which of the following statement below is true about developing a product description? A. The cost of raw materials should be affordable and satisfactory. B. Machine used should be bought outside the local market. C. The location of the business should be near. D. The staff should be trained well in abroad. 13. The following are the staffing level, or the types of workers required to a type of business proposed except? A. welding machines C. beautician B. welder D. auto-mechanics 14. Which of the following refers to facilities, vehicles, tools and equipment needed in place to maximize efficiency and productivity of the business? A. Method C. materials B. Machine D. manpower 15. This is the cheapest and highly flexible type of manufacturing site? A. Commercial rent C. input B. Commercial purchase D. home based Introduction If sales is the engine that powers Auto Salvage yards then Production the the drive train that gets us where we are going. Production is both reactive and proactive almost simultaneously. It reacts to what is sold today and must meet the expectations set by the sales team. The key production is to have procedures and processes that can accomplish both. Once the procedures are set up to maximize efficiency, it is time to train production staff on their individual responsibilities centered in the 4 M’s of production. What you should know? 4M’s of Operation Explanations / Descriptions Method Refers to the process and ways to be followed in effectively in delivering a product or service and in manufacturing concern. Manufacturing- the process of translating raw materials into finished goods that are acceptable to the customer’s standards 3 Elements of Manufacturing 1.Inputs- the materials or ingredients to be used in creating the product ( bread, cookies) or services ( welding, auto repairs, wellness) 2. Process- the transformation phase where inputs are processed by manpower and machines to come up with the final product. 3. Output- the final product of the process stage, which 1. Method is intended to be sold to target customers 3 Types of Manufacturing Sites 1. Home-based- this option is the cheapest and highly flexible. Home baking , home services ( wellness, auto repair shop, welding shops etc.) 2. Commercial space for rent-this advisable if the business really requires a commercial space for the processing of goods and services. 3. Commercial space purchase- this option requires the biggest amount of capital expenditure, but it also provides the entrepreneur substantial freedom and flexibility to design and run the commercial space.  Manpower refers to the ideal number of people, trained 2 Manpower personnel and staff to perform the methods. This include also different job positions and functions of the personnel or workers. Machine refers to facilities, vehicles, tools and 3. Machine equipment needed in place to maximize efficiency and productivity of the business without jeopardizing the safety of staffs, workers or employees. It is also an effective tool to perform the tasks of every employees and training them how to maintain the machinery. Materials refers to the type of resources needed to 4. Materials produce or manufacture a product including the packaging. It includes raw material level , inventory, quality, size, surplus or wastage and shelf life. Developing a Product Description To develop a product description, it is necessary to assess whether production or producing a certain product or services is technically feasible. The series of guide questions below is helpful in deciding a requirement of the business. 1. Are enough raw materials of the correct quality available when needed for production? 2. Is the cost of raw materials affordable or satisfactory? 3. Are the correct size and type of equipment available for the expected production level and is at reasonable cost? 4. Can it be made locally? Are maintenance and repair costs affordable? 5. Are sufficient information and expertise being available? 6. Are packaging materials available and affordable? 7. Is the distribution procedure to customer established? 8. Is the location of business suitable and available? 9. Are services available and affordable? 10. Are trained workers available and their salaries affordable?  Contents of Production Explanations / Description 1. Production Planning This plan should indicate how the different stages in a process are linked together. This includes the procedures and the equipment used. 2. Raw Materials/ This includes the amount of materials needed to produce Ingredient including the number required, the weight, etc. 3. Equipment Includes the type of machinery or equipment to be used in producing a product or services including its cost, availability and maintenance. 4. Packaging This involves the packaging materials in producing a product. It can be made of paper, plastic, aluminum or other materials for protection of the product against temperature, crushing, moisture. 5. Staffing Level This involves the types of workers required to a type of business proposed. (ex. Welding shop - needs welders, Autorepair shop -needs automechanics, Bakery- needs baker, Beauty Salon - needs beautician) 7 Steps in Establishing a Business Model 1. Size the value of the target segment - Estimate cost including the pricing of the product 2. Confirm that the product or service solves the problem or helpful 3. Test the business prototype and support a strategy 4. Talk to industry experts and investors 5. Plan and execute local roll out (Local Business Opening) 6. Focus on collecting customer references - Marketing 7. Target national trade shows and industry association groups.  Examples of Developing a Product Description Guide Examples Glazed Donut Our sole product is gluten free donut for individuals who has gluten allergies. The price is affordable at 10.00 pesos each and we offer a free delivery. Examples This is good for snacks, siestas and meriendas paired with hot tea or coffee or cool drinks. Nail Art Services Welding & Gate Fabrication Services Our nail art services offers a variety of art designs using safe nail colors. An affordable price at Our service caters gate design ______ pesos. We offer home fabrication and welding using service or you can visit at the Salon affordable metals. Welders are at______________( Address) TESDA national certificate holders. Trained personnel and staff with NC Our services cater home service or level are available. visit the site location. Price is set  Activity 1. Answer the table below. Write the answer in your activity notebook. Elements of Types of Contents of Steps in 4M’s of Operation producing manufacturing Production establishing a /manufacturing sites business model. Activity 2. Create or develop a product description of your choice or based on your specialization. Product: ___________________________________________ Description: __________________________________________ __________________________________________ __________________________________________ __________________________________________ __________________________________________ __________________________________________ __________________________________________ __________________________________________ __________________________________________ __________________________________________ __________________________________________ Assess what you have learned: Instruction: Read each item below and answer the following questions. Write your answer in activity notebook. ____________1. Refers to facilities, vehicles, tools and equipment needed in place to maximize efficiency and productivity of the business without jeopardizing the safety of staffs, workers or employees. ____________2. Refers to the process and ways to be followed in effectively in delivering a product or service and in manufacturing concern. ____________3. Refers to the ideal number of people, trained personnel and staff to perform the methods. ____________4. Refers to the type of resources needed to produce or manufacture a product including the packaging. ____________5. Refers to the final product of the process stage, which is intended to be sold to target customers. ____________6. The process of translating raw materials into finished goods that are acceptable to the customer’s standards ____________7. This plan should indicate how the different stages in a process are linked together which includes the procedures and the equipment used. ____________8. The cheapest and highly flexible type of manufacturing site. ____________9. The transformation phase where inputs are processed by manpower and machines to come up with the final product. ___________10. This type of manufacturing site requires the biggest amount of capital expenditure and provide entrepreneur substantial freedom and flexibility to run the commercial space. REFERENCES: Book: “ENTREPRENEURSHIP” (For Senior High School, Applied Subject, ABM Strand) by: Angeles A. De Guzman, DBA , CPA Web and Photos: https://www.entrepreneur.com/article/239410#:~:text=The%20product%20 description%20section%20is,listing%20of%20product%20features%2C%20ho wever.