Business efficiency

Business efficiency World Map
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June 22, 2011
World - Economy
Business efficiency
by @Jhfernandes
The International Institute for Management Development measures business efficiency based on five factors: productivity, labor market, finance, management practices, and attitudes and values. Productivity criteria include: GDP per employed person; the percentage of change in real GDP per employed person; GDP per person employed per hour; related GDP per person employed in agriculture; related GDP per person employed in industry; and related GDP per person employed in services. Some of the labor market criteria include: total hourly compensation for manufacturing workers; gross annual income in services professions; salary, bonuses and long-term incentives for management; average number of working hours per year; annual number of working days lost to industrial disputes per 1000 population; and the labor force as a percentage of the population. Finance criteria include: banking sector assets as a percentage of GDP; number of credit cards issued and credit card transactions per capita; and value traded on stock markets. Under management practices, examples of the criteria examined are: the adaptability of companies; the implementation of ethical practices; the emphasis placed on customer satisfaction; and the extent of entrepreneurship in the economy. Attitudes and values criteria include: attitudes towards globalization; whether a country’s image abroad encourages business development; and if the national culture is open to foreign ideas.

Business efficiency
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