Increasing Productivity reduces costs and work time

Productivity is a crucial factor in the success of companies, with leading companies in the United States being twice as productive as the weakest ones, while in emerging markets, top performers are five times more productive than the least efficient.

Economies of scale and learning are two strategies that can enhance productivity. Scale economies help in reducing cost and work time, while learning leads to substantial efficiency gains, especially in the age of machine learning and advanced analytics.

Basic management tools such as goal setting, performance tracking, and frequent feedback are also critical in driving productivity, but many companies fail to adopt them.

To improve the productivity of your team or company, it is essential to focus on these promising opportunities, including economies of scale, learning, and basic management techniques.

Sign Up for NextBigWhat Newsletter

Curated. Summarized. Important News. For free.

You May Also Like

As long as you

As long as you are talking to them, very quickly you can establish yourself as a strategic acquirer. I basically reached out to folks, tried to understand what are the…
View Post

Artificial Intelligence (AI)

AI is the science of making machines smart. That definition comes from AI expert and CEO of DeepMind Demis Hassabis.  It allows us to teach machines to become more human-like by giving…
View Post