Productivity Vs Efficiency: How to Balance both at Workplace
I used to think productivity and efficiency were the same thing. They are not, not even close to each other. If you can learn to incorporate these two, they complement each other and maximize the benefits. I have seen many companies often focus more on one than the other. But in reality, productivity and efficiency are equally important for a business to grow and last. What do you mean by productivity vs. efficiency? Productivity is the total amount of work completed over a certain period. Efficiency means how well one can use the resources, like time or materials, to do that work without wasting resources. Simply, productivity is the quantity of work, while efficiency is the quality of how one does that work. In this article, I will discuss the differences between productivity and efficiency and how to maximize these benefits. Here’s what I have covered for you: Productivity vs Efficiency How to calculate them How to maximize them When to apply productivity and effici...