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Productivity (Increasing Labour Productivity (Other Methods (Downsizing,…
Productivity
Increasing Labour Productivity
Improve motivation
Improve working practices
Education and training
Increasing labour flexibility
Other Methods
Downsizing
Work study
Relocation
Lean production methods
Increasing Capital Productivity
Improving technology
Increasing capital number
The use of technology
Primary Sector
Also includes chemicals such as pesticides
Technologies that aid resource collection (combine harvesters etc...)
Tertiary Sector
ATMs
(automatic teller machine),
EFTPOS
(Electronic Funds Transfer at Point of Sale)
IT in Marketing
Electronic point of Sale (
EPOS
) in retail
Electronic boarding passes
Invoices in Admin
Secondary Sector
Computer Aided Design (CAD):
designs that are done on computers and then made; Accurate and cost effective, can be used to end optimal designs
Computer Numerically Controlled machines (CNC)
: uses quantitative data to preform tasks such as cutting, drilling welding etc; also utilises co-ordiated measuring machines (CMM)
Computer Aided Manufacturing (CAM)
: Fully automated manufacture; minimal waste
Computer Integrated Manufacturing (CIM):
Automation fully integrated into production, including purchasing, stock control and distribution
E-commerce (etailing)
Disdvantages
Customers can't tell quality or test products
Returns are difficult
Fakes are EVERYWHERE
Fraud with payments
Easier to deal with human being
Some like to physically shop
High initial cost
Advantages
No physical store needed
Open all day
Very convenient for customer
Much lower starting costs for a business
Every simple to obtain information (price comparison, reviews, etc..)
Little stock required as it only needs to exist when the item is purchased by the customer
Payments can be made instantly and securely
Services and digital products can be received instantly
Changes can be made very easily and quickly
Costs are lower and therefore prices can be lower
Environmentally friendly (with email receipts)
Equations
Total Output/No. workers =
Labour productivity
Total Output/Capital employed =
Capital productivity