Regardless of the end product, that 'something' has a value to the buyer that may be direct or indirect. Manufacturing companies know that if they aren t making full use of their production capacity, they are effectively losing money and so are you. For a service organization, this is analogous to a manufacturer s production process.
Time is the one universally shared, nonrecurring asset all businesses use.
The most obvious way to raise the level of an employee s productivity is through regular training, which will enhance or expand your staff s skills. However, your facilities, equipment and operational procedures are equally important. When a CPA prepares a tax return, the client is paying for his or her expertise in dealing with a complete tax code. Years ago, each return was individually prepared and typed. Today, sophisticated software consolidates the information and produces the document much quicker.