Trademark and Business Operations

A set of flashcards covering key vocabulary and concepts related to trademarks and business operations.

Trademark

A recognizable word, symbol, or phrase that legally differentiates a product from all other products of its kind.

Importance of Trademark

Legal protection for the business, effective communication with the target market, customers feeling protected and valued, and better memory of the business or product name.

4Ms of Business Operations

Method, Material, Machine, and Management.

Method (in Manufacturing)

The process that is strictly followed in the manufacturing of a business product.

Input

Materials or ingredients being used to create the product in the manufacturing process.

Process (in Manufacturing)

The transformation phase where raw materials are processed by manpower and machines.

Output

The final product intended to be sold to target customers.

Manufacturing Site Options

Home-based, commercial space for rent, and commercial space purchase.

Home-based Manufacturing

Highly flexible and the cheapest option for start-up businesses.

Product-focused Layout

Facilities prearranged according to the flow of manufacturing operations, recommended for job-shop type operations.

Process-based Layout

Facilities grouped according to function, used for batch or continuous production operations.

Materials in Manufacturing

Raw items used in creating a product or performing a service.

Materials Requisition Options

Manufacturing of own materials, outsourcing, and purchasing from suppliers.

Information and Communications Technology

Tools like landline and mobile phones, POS machines, accounting & inventory software, and computers used in manufacturing.

Entrepreneurs' Responsibilities for Machines

Protecting against fraud, training staff, updating software, ensuring business continuity, appointing experts, and having equipment insurance.