One of the major causes of company's decline is low productivity. Failure to meet targeted productivity can result to high costs per unit, hence higher prices, making your good, services, or commodities not competitive enough on the market.
Many businesses try very hard to remain competitive in the market. Therefore, it is important for businesses to implement strategies to make improvements in productivity levels.
Businesses can make productivity improvement by asking themselves the following questions:
About the Business itself:
- Research and Analysis – Has the business done any research on the targeted markets and analyze the result on the approaches best fit?
- Smart Investment – Has the business calculated the amount of financial resources available to allocate to research and analysis, production cost, labor cost, and marketing?
- Productive Risks – Are there any risks that the company should know of during production?
- Innovation and Originality - Is your product something original and in a new market?
- Safe and Friendly Work Environment – What sort of environment are you providing your employees?
- Use of Employees – Is the business maximizing its' use of employees to best suit the business needs?
- Employee Knowledge – How familiar (what knowledge) are your employee with the running of machines/equipments, products of the companies? Does employee require training?
- Employee Happiness - Are the employees happy with their wages, rewards and hours of work given?
All these factors mention above will assist you and your business to strive to achieve your target.
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