Forum -> Productivity & Efficiency Improvement ->What factors affect productivity growth?

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Gaurav
 
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What factors affect productivity growth?

Postby Gaurav » Wed Jul 01, 2015 5:15 pm

What factors affect productivity growth?

victordhone
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Re: What factors affect productivity growth?

Postby victordhone » Wed Oct 07, 2015 4:22 pm

There are many factors that affect productivity. First of all it depends on which industry we are talking about. If it's a generic question, it might be difficult to answer that. But I will like to give it a try. First of all it depends on the internal factors like technology and finance. Finance is obviously the main factor, because if it is well planned and kept on track many problems can be avoided. After all, cash flow is the lifeblood of any business. Hire a bookkeeper, best solution I could think of. Then the external factors : Location and your Government. Location because every industry differs as per location, things like availability as accessibility to resources, climatic conditions, etc. And yes, Government because you need to know the policies to follow them, you don't want to break any rules. All these factors are inter-linked one way or the other. Just do right things the right way and you will be fine. All the best mate!

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Re: What factors affect productivity growth?

Postby Richard » Fri Oct 09, 2015 9:33 pm

Good on you victordhone!

In addition to what you have mentioned, I think intention and action are few of the most critical things that affect productivity growth.

Complacence, lethargy to change and the rigidity of applying the same rules which have worked in past, but may not necessarily be the best in current scenario hold us back and don't let us respond in the most effective way.

The essence of improving productivity can be summed up very simply as:-

• Accurately capture information that identifies your losses (Information)

• Use that information to identify your priorities (Focus)

• Take thoughtful, thorough, and sustained action (Action)

It is all easier said than done, but the fact remains you can either grow OR go down, but you can't remain stationary, same is with productivity....

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Re: What factors affect productivity growth?

Postby victordhone » Tue Oct 20, 2015 3:20 pm

Well said Richard! "Complacence, lethargy to change and the rigidity of applying the same rules which have worked in past, but may not necessarily be the best in current scenario hold us back and don't let us respond in the most effective way." Absolutely true, and the fact that even though we know this we still follow the same old strategies because we are scared to take risks. Because we believe that this worked so far, because we are terrified! I believe we got to "Risk it, to get the Biscuit". Correct me if I am wrong :)



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