Entrepreneurship

Quarter 2– Module 1:
4 Ms of Operations
Entrepreneurship – Grade 11/ 12
Alternative Delivery Mode
Quarter 2 – Module 1: 4Ms of Marketing
First Edition, 2020

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Entrepreneurship
Quarter 2– Module 1:
4 Ms of Operations
Introductory Message
For the facilitator:

Welcome to the Entrepreneurship – Grade 11/12 Alternative Delivery Mode

(ADM) Module on 4Ms of Operations!

This module was collaboratively designed, developed and reviewed by

educators both from public and private institutions to assist you, the teacher or
facilitator in helping the learners meet the standards set by the K to 12 Curriculum
while overcoming their personal, social, and economic constraints in schooling.

This learning resource hopes to engage the learners into guided and
independent learning activities at their own pace and time. Furthermore, this also
aims to help learners acquire the needed 21st century skills while taking into
consideration their needs and circumstances.

In addition to the material in the main text, you will also see this box in the
body of the module:

Notes to the Teacher

This contains helpful tips or strategies that
will help you in guiding the learners.

As a facilitator, you are expected to orient the learners on how to use this
module. You also need to keep track of the learners' progress while allowing them to
manage their own learning. Furthermore, you are expected to encourage and assist
the learners as they do the tasks included in the module.
For the learner:

Welcome to the Entrepreneurship – Grade 11/12 Alternative Delivery Mode

(ADM) Module on 4Ms of Operations!

Entrepreneurship is a vital foundation of transformation in all facets of the

society. One of the most important things to consider in putting up business is the
Marketing Mix. This basically deals with the activities, methods or strategies that the
entrepreneur executes to endorse the goods or services in the market. To achieve the
third Most Essential Learning Competency (MELC) in the SHS Applied Subject,
Entrepreneurship, this module mainly focuses on the 7Ps of Marketing in relation to
business.

This module was designed to provide you with fun and meaningful
opportunities for guided and independent learning at your own pace and time. You
will be enabled to process the contents of the learning resource while being an active
learner.

This module has the following parts and corresponding icons:

What I Need to Know This will give you an idea of the skills or
competencies you are expected to learn in the
module.

What I Know This part includes an activity that aims to

check what you already know about the
lesson to take. If you get all the answers
correct (100%), you may decide to skip this
module.

What’s In This is a brief drill or review to help you link

the current lesson with the previous one.

What’s New In this portion, the new lesson will be

introduced to you in various ways such as a
story, a song, a poem, a problem opener, an
activity or a situation.

What is It This section provides a brief discussion of the

lesson. This aims to help you discover and
understand new concepts and skills.

What’s More This comprises activities for independent

practice to solidify your understanding and
skills of the topic. You may check the
answers to the exercises using the Answer
Key at the end of the module.
 What I Have Learned This includes questions or blank
sentence/paragraph to be filled in to process
what you learned from the lesson.

What I Can Do This section provides an activity which will

help you transfer your new knowledge or skill
into real life situations or concerns.

Assessment This is a task which aims to evaluate your

level of mastery in achieving the learning
competency.

Additional Activities In this portion, another activity will be given

to you to enrich your knowledge or skill of the
lesson learned. This also tends retention of
learned concepts.

Answer Key This contains answers to all activities in the

module.

At the end of this module you will also find:

This is a list of all sources used in developing

References
this module.

The following are some reminders in using this module:

1. Use the module with care. Do not put unnecessary mark/s on any part of the
module. Use a separate sheet of paper in answering the exercises.
2. Don’t forget to answer What I Know before moving on to the other activities
included in the module.
3. Read the instruction carefully before doing each task.
4. Observe honesty and integrity in doing the tasks and checking your answers.
5. Finish the task at hand before proceeding to the next.
6. Return this module to your teacher/facilitator once you are through with it.

If you encounter any difficulty in answering the tasks in this module, do not
hesitate to consult your teacher or facilitator. Always bear in mind that you are not
alone.

We hope that through this material, you will experience meaningful learning and
gain deep understanding of the relevant competencies. You can do it!
 What I Need to Know

This module is designed and written to help you acknowledge the significance
of 4Ms of Operations in relation to business opportunity.

After finishing this module, with at least 80% level of proficiency, you are
expected to:

1. demonstrate understanding of the 4Ms of Operations;

2. describe the 4Ms (Manpower, Method, Machine, Materials) of operations in

relation to the business opportunity:

a. develop a product description;

b. create a prototype of the product;

c. test the prototype of the product;

d. validate the service description of the product with potential

customers to determine its market acceptability;

e. select/pinpoint potential suppliers of raw materials and other

inputs necessary for the production of product or service;

f. discuss the value/supply chain in relation to the business

enterprise;

g. recruit qualified people for one’s business enterprise;

h. develop the business model; and

i. forecast the revenues of the business.

3. forecast the cost to be incurred; and

4. compute for profits. (TLE_ICTAN11/12EM-IA2)

 What I Know

The most important factors that influence the operations are represented by
4Ms. Do you have any idea about it? Let us see what you already know about this
lesson. Write the letter of the correct answer on your paper.

1. What is considered as the input in the business operation?

a. 4Ms b. Product c. Advertisement d. Brand Name

2. What is considered as the most significant factor of production?

a. Manpower b. Method c. Machine d. Materials

3. What is the manner of transforming raw materials into finished product?

a. Manpower b. Method c. Machine d. Materials

4. What refers to the equipment used in the manufacturing of goods or

delivery of services?

a. Manpower b. Method c. Machine d. Materials

5. What is the formula for computing profit?

a. total revenue b. total expenses

– total expenses – total revenue
profit profit

c. total revenue d. total revenue

+ total expenses x total expenses
profit profit
6. What refers to the items assembled to create a finished product or deliver
services?

a. Manpower b. Method c. Machine d. Materials

7. What refers to the process where the business acquires raw materials, add
significance to them through manufacturing and other procedures to
produce a finished product and then sell it to consumers?

a. Supply Chain b. Quality Chain

c. Value Chain d. Demand Chain

8. What signifies the phases and stages the product or service goes through
to reach the consumers?

a. Supply Chain b. Quality Chain

c. Value Chain d. Demand Chain

9. What refers to the company’s plan for making profit?

a. Advertisement b. Marketing
c. Forecast d. Business Model

10. What refers to the company’s revenue and expense projection?

a. Advertisement b. Marketing
c. Forecast d. Business Model
 Lesson
4Ms of Operations
1
Have you ever asked yourself what the products or services you buy have
undergone before availing them? They do not just pop up, do they? They have been
through a process for sure, even before they become a product or a service.

The process is what we call operations. The most important factors that
influence the operations and thus, the final result of business operations is
represented by 4Ms: Manpower, Method, Machine and Materials (Bao, 2019). The
quality of these 4Ms will determine the production of the business.

It is very important for every entrepreneur to recognize the needs in resources

of the business. Failure to supply the required resources might result in
organizational failure.

In the next lesson, we will discuss the functions of the 4Ms of operations in
relation to business.
 What’s In

Let us see if you still remember our last lesson. I will give a word/ phrase and

then, draw a if it is a characteristic of an ideal brand name, if it is one of the

steps in branding and if it is a branding strategy.

_____1 Checking availability

_____2 Negative

_____3 House

_____4 Legally available

_____5 Environment checking

_____6 Extension

_____7 Pronounceable

_____8 Narrowing choices

_____9 Unlikely to become dated

_____10 Umbrella

I hope that after this activity, Branding is now very clear to you.

Notes to the Teacher

This module is for students to learn what the 4Ms of
operations is; its relation to business opportunity; and how to
compute for profits.
 What’s New

Figure1. Diagram of Business Operation

The figure shows the IPO (Input-Process-Output) of a business enterprise. As

shown in the figure, the 4Ms (Manpower, Method, Machine and Materials) is in the
input; in the process is the way these 4Ms are utilized; and the output is the product
or service being offered by the organization.

You will further understand this progression in this module.

What is It

The 4Ms of operation in relations to business opportunity means that the

attributes manpower, method, machine and materials should work together in the
process of executing the business. Manpower, as well as the other elements of 4Ms
is critical in putting up an enterprise. Let us discuss them in detail, one by one.

Manpower. This refers to human workforce

involved in the making of products (Aduana, 2016).
It does not only include labor but also creativity,
intellect, and other abilities of individuals that can
contribute to the production (Habaradas & Tullao,
2018). It is considered as the most significant factor
of production. Thus, it is the job of the entrepreneur to determine, hire, and match
the most competent worker with the jobs at the most appropriate time.

Entrepreneur’s most highly considered criteria in Hiring (Aduana, 2016):

1. Educational Qualifications

2. Status of employment, whether permanent or temporary

3. Number of workers required for the job

4. Skills and expertise for the job

5. Appropriate time the worker is needed

6. Conduct of background checking and issuance of requirements

7. Amount of salary or wages or other mandatory benefits

8. Availability of potential workers in the community

Activity A.

As an entrepreneur, list down your own standard and system in recruiting

people. Also specify your reason in choosing them.

Method. The manner or the system of transforming raw materials into finished
product is called method (Aduana, 2016). The said raw materials go through several
phases before a product is completed and becomes ready for delivery to the target
customers.

Factors affecting the selection of the method of production (Aduana, 2016):

Product to Produce. The physical output of the manufacturing process is called

product. Every product should be valuable
and beneficial to the consumers and must
satisfy their wants and basic needs.
 Product can be homogeneous or
heterogeneous. A homogeneous product can
hardly be distinguished than that of other
products as it may have the same physical
appearance, taste or chemical. Examples are
makers of sodas and medicines.
Distinguishing 5mg from 10mg tablet of a
painkiller is difficult.

A heterogeneous product, on the other

hand, has different characteristics, parts, and physical attributes. It can be easily
distinguished from other products. Business ventures that produce
heterogeneous products include makers of bags, home decors, and furniture.

1. Mode of Production. This refers to how the product will be manufactured. The
following system of production may be utilized in making the product of your
choice:

a. Intermittent production system. This system is used when there is short

production process and there is frequent change in the machines. The
following methods may be used under this system:

i. In a project method, the products are very large in size and there is
time constraint in the completion of the product. Examples are
construction of aircrafts, buildings, and vessels.

ii. In a job order method, the production process is accomplished by one

employee or a batch of employees.

iii. In a batch method, the production goes through several stages and
the product is moved from a worker to another.
 The intermittent production system includes the following
features:

i. A variety of products is mass-produced.

ii. The flow of production is noncontinuous.

iii. The customers’ demand is the basis of production.

iv. The production volume is not material.

v. The machineries are for general purposes.

vi. The product design is the basis of the sequence of operation.

Entrepreneurs who usually use intermittent production system are

furniture makers, manufacturers of farm equipment, tailors, and goldsmiths.

b. Continuous production system. This system is adopted when the demand

for the product is continuous. The manufacturing of products is for
stocking of inventories. The following are the features of the continuous
production system:

i. The production system is nonstop.

ii. The production is based on the projected demand of the market.

iii. The production is believed to be standardized.

iv. Usually, the products are homogeneous.

v. The production of products is in mass scale.

c. In the just-in-time production system, products are produced when the

market calls for the need for them. It is designed to eradicate wastage of
capitals (in the form of resources) to increase production.
 2. Manufacturing Equipment to Use. This refers to the equipment available for use
in making the product. If the company owns high end equipment, then the
method would be easier than those who manually process products.

3. Required Skills to Do the Work. This refers to the skills of the workforce that
will manufacture the products. The ones who are more skilled and more
experienced will most probably work faster than those who are new in the job.

Activity B.

Do the following:

1. Think of a product that you would

like to sell and describe it.
2. Create a prototype or sample of
that product.
3. Assess if the product’s purpose will
possibly be served by tasting,
trying or using it.
4. Validate if the acceptability of the
product by asking at least five (5)
potential customers to taste, try or
use it as well. Use the rubric on the
right side.

Machine. This refers to the equipment used in the manufacturing of goods or

delivery of services.
 Important elements to consider in choosing the type of equipment to procure
(Aduana, 2016):

1. Type of products to be produced;

2. Method of production to be adopted;

3. Price of equipment;

4. Equipment Capacity;

5. Spare parts’ availability in the

local market;

6. Equipment Efficiency; and

7. The required skills in running

the equipment

Materials. This simply refers to the raw materials needed in manufacturing

of goods. Basically, materials are assembled to make a finished product. For
example, wood is a raw material used to produce a cabinet or other furniture. If the
materials are of poor quality, the product will surely be of poor quality as well.

Factors to consider in selecting

raw materials (Aduana, 2016):
1. Cost
2. Quality
3. Availability
4. Suppliers’ Credibility
5. Waste that may be produced
by the material

Value Chain vs. Supply Chain

Value Chain refers to the process where

the business acquires raw materials, add
value to them through manufacturing and
other procedures to produce a finished product and then sell it to consumers. Supply
Chain on the other hand, signifies the phases and stages the product or service goes
through to reach the consumers (Tarver, 2020).

While value chain is a set of interconnected actions a company performs to have

a competitive advantage, supply chain involves all the parties in fulfilling customer
demand and eventually leading to their satisfaction.

Value Chain

The idea of the value chain comes from the perspective of the business
management. Value chain managers search for possible opportunities to add
value to the business.

Five Steps in the Value Chain

Process (Tarver, 2020)

1. Inbound Logistics: This

involves receiving of
materials, storing them,
and controlling of
inventory.

2. Operations: This involves

activities wherein the entrepreneur adds value to product through
manufacturing and assembly of merchandise that transforms raw
materials into finished product.

3. Outbound Logistics: This involves activities required in reaching end

users. Examples are warehousing, recording of inventories, order
fulfillment, and delivery.

4. Marketing and Sales: This involves activities associated with

convincing customers to procure the offered product.
 5. Service: This involves activities that maintain and improve the value
of product, like customer assistance and warranty provision.

A value chain that is profitable requires links between what a company

creates and what buyers demand. In short, the sequence in the value chain
instigates from the customer’s demand, moves through the value chain
process, and ends with the finished product.

Value chain gives a lot of consideration to things such as marketing,

innovation, product testing and research and development.

Supply Chain

The supply chain includes the flow of all information, products,

materials, and funds between different stages of creating and selling a product
to the end. The concept of the supply chain comes from an operational
management perspective. Every step in the process—including creating a good
or service, manufacturing it, transporting it to a place of sale, and selling it—
is part of a company's supply chain. The supply chain comprises all tasks that
are involved in knowing and satisfying a customer request.

Supply Chain Functions (Tarver, 2020):

• Product development • Distribution

• Marketing • Finance
• Operations • Customer service

The cost of resources and product distribution are the primary

concerns of supply chain management. Reduced consumer cost and
increased profits can be attained with proper supply chain management.

Activity C.

Select a potential supplier of raw materials and other inputs necessary for the
creation/ execution of your chosen product. Explain the reasons for choosing the
suppliers. Write your answers on your paper.
Developing Business Model

A company’s plan for making profit is referred to as business model (Kopp,

2020). Basically, it identifies and explains the goods and/ or services to sell, target
market, and projected expenses. Business models are essential for new and
established business enterprises. They help new businesses to attract investment,
hire talents, and encourage management and staff. Established businesses should
regularly update their plans to cope up with trends and challenges in the future.

Three Sections of Business Model (Parsons, 2020):

1. Resources - Everything it takes to make something: design, raw

materials, manufacturing, labor, and so on.
2. Dissemination - Everything it takes to sell that thing: marketing,
distribution, delivering a service, and processing the sale.
3. Rate - How and what the customer pays: pricing strategy, payment
methods, payment timing, and so on.

A successful business model simply needs to earn more than the cost to make
the product or service – profit. You do not have to create a new model to be an
effective businessperson, you could just adopt an existing model and execute it
accordingly to different target market.

Basic Types of Business Model (Entrepreneurinsight, 2020):

a. Manufacturer- A manufacturer acquires unrefined materials and produces

a new merchandise. He/ she can also manufacture pre-made parts into a
new product. A manufacturer may sell his/ her products directly to end-
consumers or it can be sold to another businessperson who acts as the
intermediary.
 b. Distributor- A distributor buys manufactured goods directly from a
manufacturer and resell to retailers or to the end-consumers.

c. Retailer- A retailer acquires product from a distributor or wholesaler, and

then sells those products to the end-consumers.

d. Franchise- Franchising is the method of utilizing another company's

business model that has already been successfully created, instead of
establishing a new product. The franchiser pays the ongoing royalties to
be able to use the company name, model, method, and other necessary
materials.

Activity D.

Considering the topics discussed above, create, or re-create an existing

business model that you can utilize in organizing business in the future. Name the
model according to your will. Explain the reasons for coming up with such model.
Write your answers on your paper.

Forecasting Revenue and Cost to be Incurred

Forecasting business revenue and expenses during the startup stage is

more of an art than science (Advani, 20200). Most entrepreneurs complain
because forecasting takes a lot of their time which they think could be of better
use if spent in selling than planning. But more investors would be interested
in financing your business venture if you could provide them of thoughtfully
done forecast because they know that these forecasts will surely be of help in
making your business a success by creating highly effective operational plans.

Simplified Financial Forecasting (Advani, 2020)

1. Start with expenses, not

revenues. When you are still starting,
it is easier to forecast expenses that
revenue. Try to pre-assess the
expenses by starting with the
common categories such as fixed cost/
 overhead (rent, utility bills, bookkeeping, advertising, etc.); variable cost
(cost of goods sold, direct labor cost).
Remember the following when forecasting: (1) Since advertising
and marketing costs always go up, make sure to double your estimates.
(2) Expenses for legal matters such as licensing fees, permits and
insurances must be tripled in your forecast because they are
unpredictable and most of them exceed expectation. (3) Consider your
service as labor expense.
2. Forecast revenues using both conservative reality and aggressive
dream. Conservative reality makes you logical while aggressive dream
makes you motivated and inspire as well. It is recommended that you
incorporate your dreams and at least a set of predictions with aggressive
expectations. It is believed that one cannot be big unless he/she thinks
big. Through the power of thinking big, you can create new discoveries
and innovative ideas that will grow your business enterprise.
3. Check the key ratios to make sure your projections are sound. When
aggressive revenue forecast is made, it is easy to overlook expenditures.
Positive thinking might be of big help, but it will not be enough to pay
your bills, so you must reasonably balance your forecast. To do this, you
should have reality checks for key ratios. According to Advani (2020),
ratios that could be your guide in thinking are as follows:
a. Gross margin. This refers to how much of the total revenue is the
total direct cost during a period (i.e. quarterly, annual, or bi-annual).
You must be careful to make assumptions that make your gross
margin from ten (10) to fifty (50) percent. If the customer service and
direct
sales are
high now,
they are
expected to
elevate in
the future.
 b. Operating profit margin. This refers to how much of the total revenue
is the total operating cost—direct cost, overhead, excluding financial
costs—during a period i.e. quarterly, annual, or bi-annual). Positive
movement with this ratio should be expected. Overhead cost should
be represented by small portion of total cost as revenue grows, and
there must be improvement in the operating profit margin.
c. Total headcount per client. You must divide the number of your
employees by the number of expected clients. You should consider
revisiting your forecast about revenue and payroll expense as your
business grows.

Accurate projection on both revenue and cost will be challenging specially in

your pioneering years. It will be tiring and consuming but spending time to plan
would prevent you from unwanted expenses along the way.

Computing for Profit

The simplest formula in computing the profit is by subtracting total expenses

from total revenue as shown in the box.

total revenue
– total expenses
profit

The computation of profit is by deducting direct costs and indirect costs (also
known as overheads) from sales (Informi, 2020). Direct costs are expenses that
directly go into producing goods or providing services such as labor, materials and
other manufacturing supplies; while indirect costs are the general business expenses
that keep the business operational such as rent, utilities and general office expenses
(Blakely-Gray,2018).
 Based on the normal accounting guidelines, sales and expenses are included
in profit on the day they occur, not on the day of actual payment so profit will include
credit sales and purchases even when they are not yet paid.

Here is an example:
A business buys 3,000 of stock in October and agrees to pay for it in
three months’ time. It sells the stock in the month in which it was purchased
(October) for5,000 cash. The profit for the month is 2,000. Even with the
reality that the stock was not paid for immediately is not important when
calculating profit.
 What’s More

Mark the statement with a ✓ if the statement is true and if false, correct
the italicized word by writing the appropriate term.

_____1 The 4Ms serves as the process in the IPO of a business.

_____2 Manpower is considered as the most significant factor of

production.

_____3 Product to produce is a factor to consider in the selection staff.

_____4 Entrepreneurs who usually use intermittent production system are

furniture makers, manufacturers of farm equipment tailors and
goldsmiths.

_____5 Equipment capacity is a factor to consider in choosing materials to

use.

_____6 Waste that may be produced is a factor to consider in choosing

materials to use.

_____7 Supply chain signifies the phases and stages the product or service
goes through to reach consumers

_____8 Value chain managers search for possible opportunities to add value
to the business.

_____9 The plan of the company for making profit is called business model.

_____10 More investors will be more interested in financing your business

venture if you could provide them of thoughtfully done business
model.
 What I Have Learned

Answer the following questions in a separate sheet of paper.

1. What are the 4Ms of Operation? Explain each briefly.

2. Considering your answers in Activity A, what are the most essential

characteristics of a person to be hired? Give at least three (3) and explicate
why.

3. With the product chosen in your Activity B, carefully forecast the possible
expenses to be incurred and briefly explain your reasons for stating such.

4. Given the chosen suppliers in Activity C, list the prices of the needed machines
and materials in putting up your business venture.

5. With the business model chosen in your activity D, make a table of possible
revenue to be incurred in a month and explain how and why it would possibly
happen.

What I Can Do

Given the following amount of the expenses and revenue, solve for the profit
using the formula discussed earlier. Explain your computation.

Paid Rent : 2,500.00

Paid utility fees : 4,679.18

Supplies : 10,789.86

Delivery cost : 589.00

Employees’ salary A. : 450.00 (15days) (4 persons)

B. : 650.00 (15days) (1 person)

Income : 104,596.50
 Assessment

Mark the statement if it is correct and if not.

1. Product or service is the output of the business operations.

2. Materials are equipment used in the manufacturing of goods or delivery of

services.

3. Method is the manner of transforming raw materials into finished product.

4. Materials are the items assembled to create a finished product or deliver

services.

5. To compute for the profit, expenses must be subtracted from the revenue.

6. Supply Chain is the process where the business acquires raw materials, add
value to them through manufacturing and other procedures to produce a
finished product and then sell it to consumers.

7. Value Chain is the phases and stages the product or service goes through to
reach the consumers.

8. Forecasting is the company’s revenue and expense projection.

9. Marketing is the company’s plan for making profit.

10. 4Ms are essential in putting up a business enterprise.

 Additional Activities

Considering the amount of capital in starting your own business, draw a graph
of profit income forecast monthly for 6 consecutive months by considering the
following percentage:

a. 25% d. 73%
b. 40% e. 62%
c. 54% f. 47%
Assessment: What I Can Do:
Revenue: 104,596.50 Activities A, B, C, D:
1. 6. Total Expenses:
Answers may vary
55,308.04
2. 7. Profit: 49,288.46
3. 8.
4. 9. Additional Activities:
What I Have Learned:
5. 10. Answers may vary
depending on the Answers may vary
capital.
What’s More: What’s In: What I Know:
1. Input 1. A
2. A
2.
3. Method 3. B
4. C
4. 5. A
5. Machine 6. D
6. 7. C
8. A
7.
9. D
8. 10. C
9.
Answer Key
References
Aduana, Nick. Entrepreneurship In Philippine Setting For Senior High School.
Reprint, Quezon: Vibal Group Inc., 2016.

Advani, Asheesh. "How To Forecast Revenue And Growth". Entrepreneur, 2020.

https://www.entrepreneur.com/article/76418.

Alton, Larry. "The 7 Elements Of A Strong Business Model". Entrepreneur, 2020.

https://www.entrepreneur.com/article/243753.

Bao, Long. "Introduction About 4Ms". Linkedin.Com, 2019.

https://www.linkedin.com/pulse/introduction-4ms-long-bao.

Blakely-Gray,Rachel. "What's The Difference Between Direct Vs. Indirect Costs?",

Patriot Software, 2018,
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