What is the difference between productivity and performance? Why is it important to know the difference
Productivity is indeed the number of goods and services that a productive unit produces in a specific amount of time. Every business activity revolves around the idea of productivity, but due to the wide variety of building items, it is very difficult to measure. Productivity places more emphasis on output than input. The goal is indeed to produce the most output from the least amount of input. Performance, on the other hand, compares the amount of work completed with that which was anticipated. It is important to realize that increased performance does not always equate to increased output. The improved performance led to increased output, albeit it may have come at the expense of productivity due to long hours spent. It's essential to comprehend both productivity and performance so that each may be improved without degrading the other.
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