Cost Effective Operations And Competitiveness - Unit 3 Flashcards
1
Q
Name at least 2 methods of increasing output/productivity:
A
- Train employees better
- Invest in better equipment
- Introduce more effective work practises
- Work overtime
- Motivate employees
2
Q
What is productivity?
A
Total output ➗ number of workers
3
Q
How can a business reduce costs?Name at least 2.
A
- Cheaper suppliers
- Better design of products
- Pay workers less money
- Cutting overhead costs (printing,rent)
- Cut down the number of production processes to make it quicker
