Operational Efficiency Flashcards
1
Q
What is operational efficiency?
A
- the ratio between the input into business operations and the output produced
2
Q
What is a unit cost?
A
- amount of money charged per item
3
Q
How is productivity calculated?
A
Output of employee / number of hours
4
Q
What are the benefits of being productive?
A
- more output
- better working environment
5
Q
How can a business improve their productivity?
A
- incentives:
training
Bonus
