Why is high productivity important for a nation? Why do you suppose that service jobs have lower productivity than manufacturing jobs? How can a company gain a competitive advantage by having higher productivity than its competitors have? Would improved productivity be a competitive advantage for the company you work for or one that you know well? How?

Why is high productivity important for a nation? Why do you suppose that service jobs have lower productivity than manufacturing jobs? How can a company gain a competitive advantage by having higher productivity than its competitors have? Would improved productivity be a competitive advantage for the company you work for or one that you know well? How?

Foundations of Business (MindTap Course List)

6th Edition

ISBN:9781337386920

Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor

Publisher:William M. Pride, Robert J. Hughes, Jack R. Kapoor

Chapter1: Exploring The World Of Business And Economics

Section1.5: The Business Cycle

Problem 2CC

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Concept explainers

Overall Equipment Effectiveness

Overall equipment effectiveness or OEE as it is known can be defined as a widely standard to measure manufacturing productivity. In other words, it can also be defined as the exact percentage of time which is productive. If the score of overall equipment effectiveness is 100%, it is an indication that only good parts are being manufactured with no stop time. Hence OEE of 100% means 100% quality, performance & also availability.

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Why is high productivity important for a nation?
Why do you suppose that service jobs have lower productivity than manufacturing jobs?
How can a company gain a competitive advantage by having higher productivity than its competitors have?
Would improved productivity be a competitive advantage for the company you work for or one that you know well? How?

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