Factors influencing productivity:
1. Specialisation and the availability of new technology.
What jobs will robots replace in the next 20 years?
2. Education and training.
3. Improved motivation of employees.
4. Changing working practices.
Should trains have guards on board? Click on the picture:
Productivity and competitiveness:
Increased productivity equals more production with the same level of resources.
The cost per unit will be lower and they may charge lower prices.
Charging lower prices makes the business more competitive.
