Efficiency, productivity and competitiveness are linked. Better productivity means increased efficiency which results in a higher level of competitiveness.
Which of the following best describes 'efficiency'?
Producing items customers need
Making the best use of resources
Which of the following best describes 'productivity'?
Total output of the business
Output per worker
Another way of saying unit cost
What does high productivity depend on?
How can productivity best be improved?
Which of the following does NOT improve productivity?
Diseconomies of scale
If 50 workers produce 800 cars, what is the labour productivity?
Cannot be calculated
A firm making 800 cars with 50 workers sacks 10 staff. Output is unaffected. What is productivity now?
What is lean production?
A type of customer service
A method of stock control
A set of cost cutting techniques
Which of the following will most likely reduce with reduced productivity?
Which of the following is LEAST likely to be a benefit of cost cutting?
Improved profit margins
Improved customer satisfaction