- Created by: RosieGinger
- Created on: 16-03-16 11:37
The meaning of production
- Business convert inputs into more valuable outputs; this is referrred to as adding value.
- Production means making goods or services.
- Productivity refers to how effective resources are in producing goods.
- Productivity rises when resources are used well.
- More output is produced with more amounts of inputs.
- Operations management is the term that describes the process of managing resources to add value.
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