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Productivity

What Productivity Means

Productivity, as per Oxford Languages, refers to ‘the effectiveness of productive effort, especially in industry, as measured in terms of the rate of output per unit of input.’

What is the Meaning of Productivity in Work?

In the realm of work, it showcases the balance between goods and services against labour and costs. For businesses, it boils down to the amount of work accomplished over a specific period. In work, is a gauge of how effectively employees contribute to crucial business objectives, impacting overall performance.

How Can Productivity Be Improved?

There are many tips to improve and increase it, some main ones are:

  1. Keep things simple. 
  2. Map out SMART goals 
  3. Set reminders
  4. Review goals daily (or at least regularly)
  5. Minimize time-wasting activities
  6. Motivate your team

How Productivity Leads to Economic Growth

It enables firms to generate more output with the same input, resulting in higher revenues and increased Gross Profits. This, in turn, paves the way for substantial economic growth.

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