One-Trick Ponies Get Shot: How services companies can avoid the vendor trap, do better work, and prosper. It's this post, but for services companies in general. Available on Kindle, here. I admit it: For 20 years, Iâve been obsessed about digital marketing.
Production Management. Production management on the other hand focuses specifically on the production of goods and services and is concentrated upon churning output from input. It is a broad sum of activities that go into turning raw material into final, finished product.
What is the difference between productivity and efficiency? There are two firms A and B. Firm A uses 5 units of raw material, 2 units of labor, 3 units of capital to produce 6 units of output in one year. Firm B uses 10 units of raw material, 2 units of labor, 3 units of capital to produce 10 units of output in one year.