When dealing with business scenario, irrespective of its success measuring the productivity is a major factor. Strangely some business people are left with no answer when they are asked about the methodology to measure the productivity of a business. In few cases, business might yield unexpectedly a high profit that might satisfy the organization. But the businessmen will not be aware of the fact that the same business would do three times better while measuring the productivity.
Earlier there was a myth that business can either be improved or cannot be improved, but now it is not so. Productivity can be measured with certain business aspects in such a way that the business operations get reviewed at all the stages with the evaluation of their improvements. Under the pricing options see what could be measured to enable tracking of costs. Are the customers satisfied with the business pricing of the company.
In the conventional business, quality for the products was not given importance as it was considered to be an expensive one. Now the steps have to be taken to track the two critical indicators of quality, say the defects and variance. Next is the performance of the company’s employees . This plays a very important role in determining the productivity. So their performance should be tracked in order to predict the future productivity and if any improvements needed should be indicated.
Desired business outcomes are determined along with any other outcome that would leverage the further business activities. Risks are not anticipated in a business but it is obvious for it to occur. Try to measure the risks at an early stage that your customer cares about. Evaluate the feedback system from the employees and customers too. To improve the business henceforth, the above factors are to be followed and measured accordingly.