Answer to Question #105061 in Management for Alegu Godswill prince

Question

Identify and discuss the factors that determine the types of production method to be employed in an organization

Answer 1

The main factors that determine the production method employed in an organization are labor, enterprise, land, and capital.

Land involves natural resources that are associated with natural resources and physical scape. Labor includes efforts and services employed to produce goods and services. Capital is an original production factor and it includes machinery, raw materials, plants, and fuel. Enterprise is an essential factor in production which is focused on physical assets and individuals who have a common goal to generate profits.