Gold Mine

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Submitted By fatchickeekells
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Manufacturing a Gold Mine

AIU Online

Now that the idea has been thought up, the prototype has been created, the how-to’s of marketing have been thought out, it’s now time to examine how exactly this product will be manufactured. It boils down to three options: first being, establish manufacturing of all components and final assembly, establish assembly only operation with components purchased from local vendors or outsource the entire manufacturing operation to an offshore company. All which should have careful consideration based upon the type of product one is manufacturing.

With every job there comes some source of management. There are four functions that help build up a solid management plan. These functions include planning, organizing, leading and controlling. The first function of management; planning, this is considered the foundation, this is where progress is viewed at its current state and determined what the future may hold for the company by creating goals and objectives. With planning comes SWOT, also known as strengths, weaknesses, opportunities and threats. This means that when planning for the best outcome of the company the determination of what will strengthen the company, weaken the company, what opportunities will present themselves to benefit the company as well as any threats that can harm the company in any way. Organizing is the second function of management; this is when a company has to put into play, all of its resources organized by the company. This is also where management decides what divisions of work shall go to depending upon its needs; along with deciding what responsibilities and authority shall be handed over to what departments. Followed by organizing comes leading; the leading function is where management controls the actions and responsibilities of employees or staff. Doing this helps…...

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