In any organization, ______ such as raw materials, labor, facilities, equipment, and knowledge, are needed to transform them to outputs in a way that increases the input's value.
In an organization, inputs are materials, knowledge and efforts that go into production. They undergo processes through which value is added and come out as outputs which can then be offered to customers.
Materials that go into production usually cost less than they do after value has been added and can then be sold at higher prices.
