The concept of productivity is defined by the ability of an organization or company to convert available resources into profitable services or goods. Workplace productivity allows you to apply skills, technology, and innovative ideas to maximize performance with existing input and process processes. In other words, productivity investigates new ways of creating an efficient environment
The importance of productivity can be summarized as follows:
Productivity is important for & # 39; n & # 39; for a reason. Among the tips listed here are just the tip of the iceberg productivity
Productivity increases the low cost per unit and results in a lower price. It helps keep any competitive advantage you can. It also increases living standards, as more and more products can be purchased when the product is produced more. Thus, consumers benefit from greater productivity from the business.
Productivity increases business profits and leads to wage increases for workers. For the sympathetic capitalists, increased profits mean that they can share more money and blessings with their employees.
Some companies report on productivity as important for their profit level is optimal, but this is not correct. Although their products do not directly represent the health of companies, they help corporate leaders improve product performance. This is the way to reward the worthy employees who stand out in productivity.
Productivity is more important than revenue and profit. This is because profit only determines the outcome, while productivity determines the efficiency of business and the efficiency of business processes and policies. Profit does not determine individual and segment performance. Another important reason, "why not measure revenue and profit is not enough", is only useful if the company shows optimistic results. In the event that the company does not produce the expected result, it will go and check the productivity reports and not the profit reporting.
One of the reasons why productivity is important for companies is to help them measure their strengths and weaknesses with the threats and the opportunities offered by the market. Once companies determine their weakness, they can work hard and produce results. Another reason is to check the output parameters of the different classes. Despite the fact that productivity is important, productivity often causes a serious collapse in corporate growth. Finally, only profit reports are insufficient, productivity reports that provide smooth flow of financial problems are also needed
Source by sbobet