Question

two benefits to Mr Patel of increase productivity

Answer 1

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$\implies$ᴀᴛᴛᴀɪɴᴍᴇɴᴛ ᴏғ ʜɪɢʜᴇʀ ᴘʀᴏᴅᴜᴄᴛɪᴠɪᴛʏ ɪs ᴏɴᴇ ᴏғ ᴛʜᴇ ᴍᴀɪɴ ᴀɪᴍs ᴏғ ᴀɴʏ ʙᴜsɪɴᴇss ᴇɴᴛᴇʀᴘʀɪsᴇ. ʜɪɢʜᴇʀ ᴘʀᴏᴅᴜᴄᴛɪᴠɪᴛʏ ᴇɴsᴜʀᴇs ʟᴇssᴇʀ ᴄᴏsᴛ ᴏғ ᴘʀᴏᴅᴜᴄᴛɪᴏɴ, ʜɪɢʜᴇʀ ᴘʀᴏᴅᴜᴄᴛɪᴏɴ ᴀɴᴅ ᴍᴏsᴛ ᴇғғᴇᴄᴛɪᴠᴇ ᴜᴛɪʟɪsᴀᴛɪᴏɴ ᴏғ ᴀᴠᴀɪʟᴀʙʟᴇ ʀᴇsᴏᴜʀᴄᴇs. ᴛʜᴇ ᴄᴏɴᴄᴇᴘᴛ ᴏғ ᴘʀᴏᴅᴜᴄᴛɪᴠɪᴛʏ ɪs ɢᴀɪɴɪɴɢ ɪᴍᴍᴇɴsᴇ ᴘᴏᴘᴜʟᴀʀɪᴛʏ ᴀᴍᴏɴɢ ᴘʀᴏᴅᴜᴄᴇʀs, ᴇᴍᴘʟᴏʏᴇᴇs, ᴀɴᴅ ᴄᴏɴsᴜᴍᴇʀs.

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Answer 2

Answer:

In other words, improving productivity means either reducing the amount of materials and labor you're putting into the process, or increasing the level of output for the same quantity of input. That's productivity in a nutshell.

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Efficiency and productivity

Efficiency is about making the best possible use of resources. Efficient firms maximise outputs from given inputs, and so minimise their costs. By improving efficiency a business can reduce its costs and improve its competitiveness.

There is a difference between production and productivity. Production is the total amount made by a business in a given time period. Productivity measures how much each employee makes over a period of time. It is calculated by dividing total output by the number of workers.

An increase in productivity from 20 tables to 25 tables, without any increase in costs, means the firm has improved efficiency. The resultant lower unit costs increase profit margins.

Staff productivity depends on:

skills

quality of machines available

effective management

Productivity can be improved through:

training

investment in equipment

better management of staff

Training and investment cost money in the short term, but can raise long-term productivity.

Explanation: