Class notes
Investment and Productivity
- Course
- Institution
A look at production, what investment will do for a business and economies of scale.
[Show more]
1 review
By: ocolton • 2 year ago
Seller
Follow
MarkC57
Reviews received
Content preview
Investment and ProductivityThe production process requires raw materials which have to be of a high quality as it has an
impact on the overall quality of the product.
Product must meet needs and want to ensure customers will buy it. R+D must be carried out
correctly to meet the needs/wants of customers.
Product Features:
Performance: Does what it says.
Aesthetics: How it looks and does it meet customer expectations.
Quality: Good quality that will last.
Reliability: Want it to work every time.
Quantity: Ability to produce enough and enough to meet the needs of customer demands.
Production Costs: Try to keep them low as possible. Competitive pricing-maximise profits.
Delivery Costs: Can you get it to the customer when they want it.
Plant: Building and machinery used to make the product. Meet current and future demand
efficiently as possible. If not, what modifications can be made to improve it. Has to make the
product efficiently, as possible.
Future demand: If demand rises, the business must have the ability to meet this demand. The
business may extend it to a new site.
Newer and up-to-date equipment is better as it is more efficient/ productive. For machinery to be
used most effective it has to be maintained regularly/ serviced regularly as it keeps it at its
optimum efficiency.
Process: Ensure that your process is laid out safely and efficiently as possible. Use your space to the
best as possible.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller MarkC57. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $5.17. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
52510 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now