Capital
Investments in things like facilities, infrastructure, software and machines is the foundational basis for productivity. For example, knowledge workers with fast computers may be more productive than those with old models.Strategy
Developing a business strategy that is likely to be valuable. Time spent on a failed strategy may represent a productivity rate close to zero.Business Model
Productivity varies by industry and business model. For example, a farmer producing a commodity crop who successfully switches to a premium crop may boost their productivity rate by charging higher prices for their output.Tools
Tools such as movie editing software that saves a videographer time on common tasks.Automation
Systems and machines that automate work boost productivity. For example, a heavily mechanized farm is generally more productive than a lightly mechanized farm.Process Improvement
Discovering and reducing wasted effort in repeated business processes. For example, the use of numerical analysis to find bottlenecks on a production line.Time Management
The personal process of identifying and reducing sources of wasted time.Outsourcing
Paying others to do work that are outside of your talents. For example, a designer who pays an accountant to do their books and submit their taxes.Performance Management
The management process of setting goals with employees and evaluating results. Performance management is the foundation of productivity in many organizations whereby expectations are set and productivity evaluated.Organizational Culture
Developing norms, expectations, habits and shared values as a group that are conductive to productivity.Resilience
Designing things to be resilient to stresses. For example, a production line that continues to operate normally when machines fail due to redundancies built into the process.| Overview: Productivity Improvement | ||
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Definition | The process of achieving more output in an hour of work. | |
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