I completely with your comment on how the required readings grew your knowledge of production. I did not realize how much truly goes into production and all the required steps for it. I agree with your point about how equal power makes it easier for companies to succeed. The market is very competitive so it's easy for companies to fall off due to the amount of competition they encounter.
Smith believed that those who are better at a certain task should focus on that specific task through the production process. He claimed that would save time and be more beneficial in the long run due to someone perfecting their task rather than doing it all. Making their production time smooth and valuable on time.
I agree with the above statement because Byland stated how multi-tasking does not benefit you or the company at all. Multi-tasking actually hurts the company more because people aren't focusing on one thing. The person needs to focus on their tasks at hand so that it will be perfect and help production go smoothly. Perfecting a specific task will improve the company's timing. Adding more people to the company benefits it greatly so that everyone has a specific job to get done.
I agree with you statement that the economy lives off of supply and demand. If you are not competitive in your market then it will be hard to succeed within your market because things are constantly changing. I agree on your statement about organization. A company needs to be organized in order to do well. Organizing can make the production process so much easier on everyone and keep the company in check. Change can be hard on most companies but if you have a good production process it will make things so much easier for the company. The economy is always changing and companies need to keep up with this or else they will fall behind and it will harm the company. I agree with your statement saying that the economy is always developing and companies need to realize this so that the companies stay in business.