Free Week 1 Reflection Research Paper Sample
Strategy, process, product and services are terms that are used to describe the nature and status of the business. It a combination of the terms that are used to explains activity progress according to the level of business at a certain time. Strategy is defined as the plans that are employed by the business management in achieving the identified goal. It involves methods or the series of activities in the business operation. Process in the business set up is a systematic procedures or series that are followed in operation. It shows the steps that are taken in the businessactivities.
Product is the goods that are made available by the business entity such as a manufacturing company. Services are defined supply of utilities and commodity to the users. It is making the utility available to the public. These terms are brought together by the business persons in the manufacturing and provision of goods and services. They are related in that for a company to experience high productivity has to apply a combination of strategy and process. They make the business operation more easy using less cost. Correct combination of the strategic measures in the process, in the business leads to high production of goods and services. This explains how they are related in the entire business operation.
Their impacts to the business are shown by the productivity and performance of the business. Innovation and creativity of the business management enhances to a proper design of strategic measure. The measure of their impacts is profitability of the business. Efficient and effective productions are resultant of the application of a combination of strategy and process. Therefore, the impacts of these terms are evident through observation of the business operation and performance.