components of systems productivity

May 29th, 2015
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Production is defined as the act of manufacturing, mining or growing a commodity usually in bulk for sale. Production is a term also used in connection with plays, movies, radio or television programmes. A person who produces something is known as a producer.

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PRODUCTIONProduction is defined as the act of manufacturing, mining or growing a commodity usually in bulk for sale. Production is a term also used in connection with plays, movies, radio or television programmes. A person who produces something is known as a producer. A product is the result of the producer's efforts and ability to pool in resources to create a final commodity. Production is the output of a commodity created over a specified period of time. Production is also the act of creating wealth from the activities or processes involved in the manufacturing of goods and services.The way that businesses create products and services is known as the production process. There are three main parts to the production process as can be seen in the diagram below:A firm must purchase all the necessary inputs and then transform them into the product (outputs) that it wishes to sell. For example a football shirt manufacturer must buy the fabric, pay someone for a design, invest in machinery, rent a factory and employ workers in order for the football shirts to be made and then sold.How well-organised a firm is at undertaking this transformation process will determine its success. This is known as the productive efficiency of a firm and it will want to be as efficient as possible in transforming its inputs into outputs (i.e. using the minimum number of inputs as possible to achieve a set amount of output). This will reduce the cost per unit of production

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