Efficiency vs. Productivity
Company leaders are always talking about efficiency and productivity. But what are productivity and efficiency exactly? Are efficiency different or the same? Is one better than the other? In this article, we’ll help you better understand the differences between efficiency, productivity, and so much more.
What is Efficiency?
Efficiency is the ability to produce desired results with little or no waste with very few resources
- It is simply the quality and degree of effectiveness at which a company is being efficient
- Company leaders should strive to encourage efficiency in all aspects of their businesses
It Is Best To Be Productive And Efficient, But If You Must Choose, Choose Productivity
Most successful companies put their primary focus on productivity, not efficiency
- Productivity helps companies do more, while efficiency helps them do the same with less
- If a company is going to focus on making anything more efficient, it should be all of the tedious work that needs to get done but doesn’t really help the company grow
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What Is Productivity?
Productivity is the quality or power of producing especially in abundance
- It is a measure of how productive a company is
- A company should strive to make the most output with the resources they have
- If a company has a large budget, they are trying to produce the largest amount of work possible, but if they have a small budget, then they are still trying to increase output
- Efficiency and Productivity are different
Efficiency vs. Productivity
Efficiency refers to the amount of effort and resources people put into work, while productivity is all about amount of work done over a certain period of time
- Productivity is proactive. Efficiency is reactive
- Companies do not become more productive because their budgets or timelines grow.
- A company becomes more productive by focusing on doing more with current resources
- People who focus on productivity care about accomplishing everything they possibly can with what they currently have
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