Why Is Production Such An Important Business Activity?


5 Answers

amber Jhon Profile
amber Jhon answered
The process of making goods is known as production. Production process is the main business activity of a manufacturing or product business. It is considered the most important business activity because during the production process the products are designed according to the demands and the needs of the customers. Product layout is designed during this process and finished products are manufactured which can directly affect the popularity of the products and their sales. Moreover, quality of the products can be also achieved during the production process therefore, the importance of this process is increased. If a business does not consider it's production process important and just focus on the marketing functions, then it cannot survive in the long term. For long term survival production process should be considered because it also makes more profits for the company by reducing the costs. On the basis of all of these factors, production is the most important business activity in any business.
Anonymous Profile
Anonymous answered

Why Is Production
Such An Important Business Activity?
In what ways does it create value
for the company and its customers?

Robert Lamp Profile
Robert Lamp answered

Production of goods is the primary requirement in order to serve the customer. No sale can be complete without the production of a good; which essentially means that producing a good is the mandatory step to generating value for the firm. By producing the good, a company provides an item ot use for the consumer; which he/she value (that is why the consumer pays a price for the good). The value for consumer can be categorized in two ways. 1) Tangible: Any value which the consumer can associate by his/her sense organs. For instance, soap is a product which the consumer uses to wash hands. 2) Intangible: Any value which the consumer experiences by the act of feeling. For instance, the feeling a luxury when a consumer stays in a hotel, which he/she perceives to be luxurious.

Anonymous Profile
Anonymous answered

Production (economics) Production is a process of combining various material inputs and immaterial inputs (plans, know-how) in order to make something for consumption (the output). It is the act of creating output, a good or service which has value and contributes to the utility of individuals. I got my clue based on this business collectionshield360 reviews

Frank Lee Profile
Frank Lee answered

Every business requires a little bit of production. Starting form manufacturing up to some online projects. A lot of people ask themselves how do news websites make money for instance or how in general earn money on the web. The answer is quite simple. Go through the article and make your own conclusions.

Answer Question