Since improving productivity is vital in today’s competitive world, a clear understanding of the term productivity is essential. Businesses have to operate in a highly competitive market place and whatever business you are in, it is imperative, especially in today’s turmoil and economic situation, that a real focus is placed on methods to deliver superior quality through a process of enhanced productivity and at the same time reduce the costs by eliminating wasteful activities and failure.
There are so many “theoretical” ways or processes that could be implemented and indeed, have in many organizations. However, these do not always work and deliver the desired outcomes. “Cost cutting” is no longer the solution to sustainable profitability, the key to success is finding creative ways to prevent wasteful activities.
