Question
Part 1: Manufacturing business Introduction Describe a product that you will like to manufacture. Provide an overview about the proposed business including its competitors, the
Part 1: Manufacturing business
Introduction
Describe a product that you will like to manufacture. Provide an overview about the proposed business including its competitors, the industry in which it will operate and target customers. Read and summarize a recent article about the industry or economic conditions in the country or economic forecasts. Discuss how the subject matter of the article may affect the business with respect to making the product (10 marks).
Costs
1. What will you need to make the product? Will the production be labor intensive or capital intensive? What strategy will you adopt - being a low-cost producer, product differentiation or others? (5marks).
2. Describe and estimate the costs that the company will incur in its first month and year of operations (5 marks).
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