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Discussing Productivity.
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| Submitted: Mon Oct 06 2003
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Productivity * In order for a business to become more profitable, it may need to increase its efficiency with regards to productivity. * Efficiency is to do with how well resources such as raw materials, labour and capital can be used to produce a product or service. * Cost are often used as an indicator for productivity. If the cost of a product are falling but the standards and quality are not then this is seen as an increase in efficiency and in productivity. * Efficiency of a business may want to be measured for the following reasons: o To improve the control of the business. Information about the efficiency of different parts of a business will allow managers to find strengths and weaknesses. o To make comparisons. The efficiency of different plants can be compared, for example. The efficiency of the business compared to one of its competitors may also be useful. o To help negotiations....
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