The 4Ms of operation in relations to business opportunity

means that the four critical domains, usually attributed to

manufacturing, those are: man, machine, material and method
work together. These four critical domains are also applicable to
business opportunities since business is in essence tied to
manufacturing as well. When putting up a business, manpower is
critical as well as the other elements. The businessman must
take all of those into account. Let us look at each one in detail.
Method - refers to the system and step by step process in the
business. Without a scalable process, it would be difficult to
expand the business. This means that the methods used in the
main branch must be documented and must be replicated as well
in other branches. If it is difficult to implement at another site, find
what needs to be improved.  
Manpower - this is the worker. When setting up a business,
finding honest and capable people is always a challenge. In my
experience, people can be honest but may not be capable or
competent and some are capable but not honest. It is a rare find
to find someone with all the ideal qualities. So for a businessman,
they must be able to treasure their employees who are both
capable and honest as they are integral to the growth of the
business
Materials - sourcing raw materials is critical in any business
endeavor as the businessman would want to have the cheapest
possible at the highest quality.  
Machines - machinery is also important. Without the proper
equipment, you will not be able to perform the needed tasks
efficiently. You may be able to use the manpower to do it but it is
usually more efficient if machines are able to automate the work.
Running a business is a complex process and all of these
elements interplay. It is not just one machine for example but
many. Manpower issues could also arise, which would challenge
the method that has been set up. It is up to the businessman to
identify and solve these issues.