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Producers

Producers are individuals or businesses that create goods or services. There are three main types of producers: agricultural/primary producers who produce food and raw materials; industrial/secondary producers who manufacture goods; and service/tertiary producers who provide important support services. Producers play a key role in economies by supplying goods and services, using resources efficiently, promoting exports, and creating income and jobs. Good producers strive to exceed customer expectations, demonstrate leadership, communicate well, continuously improve, and work as team players.

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123 views3 pages

Producers

Producers are individuals or businesses that create goods or services. There are three main types of producers: agricultural/primary producers who produce food and raw materials; industrial/secondary producers who manufacture goods; and service/tertiary producers who provide important support services. Producers play a key role in economies by supplying goods and services, using resources efficiently, promoting exports, and creating income and jobs. Good producers strive to exceed customer expectations, demonstrate leadership, communicate well, continuously improve, and work as team players.

Uploaded by

Nico evans
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Producers

Definition:

Producers are the group of persons who produce either goods or services for creating utility.
They usually produce with the help of factors of production.

A producer is someone who creates and supplies goods or services. Producers combine
land, labor, capital and entrepreneur (entrepreneurship)called factor inputs or factors of
productionto createthat is, to outputsomething else.
o Businessescalled "Manufacturer"are the main examples of producers and are
usually what economists have in mind when talking about producers.
o Governments are producers of some kinds of servicessuch as police services,
defense, public schools, and mail deliveryand sometimes goods, such as when a
government owns the oil fields and oil production.
o Households and individuals are producers of non-market goods and services such
as cleaning, child-rearing, cooked food, etc.

A person who creates economic value, or produces goods and services.

Types (Kinds) of Producers:

Agricultural (Primary) Producers:


o These producers mainly produce goods related to agriculture and its allied
activities. They generally produce food crops, vegetables, fruits, flowers and forest
products.
Industrial (Secondary) Producers:
o These producers mainly produce goods related to industry or manufacturing units.
These producers are engaged in large-scale, small- scale and tiny scale industrial
units.
Service (Tertiary) Producers:
o To produce both agricultural and industrial goods various types of services are
required. These services include transport and communication services, banking
and insurance services, storage services, etc.

Importance (Significance) of Producers:

There are several important roles a producer has to play.


Supply of Different Goods and Services
Entrepreneurship
Optimal Use of Resources
Export Promotion
Increase in Income and Employment
Rise in Demand for Factors of Production

Difficulties faced by the Producers


Regulation and Traceability
Product development and innovation
The manufacturing skills gap
Healthcare costs
Environmental concerns and considerations

Characteristic of a good producer

1. Good suppliers want to meet more than the minimum requirements. They want to exceed their
customers expectations and are willing to go the extra mile.

2. Good suppliers are leaders in what they do and role models. Their companies are the ones that
the a customer wishes its other suppliers would emulate.

3. Good suppliers have a positive, can-do attitude.


4. Good suppliers are team players. They want to work with their customers so that both of them
are winners.

5. Good suppliers communicate well and keep their customers informed. Good news as well as
challenges. No surprises.

6. Good suppliers strive for excellent performance and want to make their customer (and customer
contact) look good.

7. Good suppliers are flexible. When they learn of a good idea or business practice that they believe
can improve their company, they will adopt it. Exceptional suppliers are early adopters, and their
customers can learn from these suppliers.

8. Good suppliers want to improve and know how to improve. Continuous improvement is not a
slogan. Its reality. Good suppliers do not become complacent. They are always looking to
improve, as they know the benefits of never standing still. If their customer uncovers important
opportunities for improvement, good suppliers are positive about pursuing these opportunities and
happy that their customer brought them to their attention.

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