I’ll be answering why consumers benefit directly from greater productivity.
Why do consumers benefit directly from greater productivity?
It makes a difference in the speed of production, which greatly and positively impacts customer satisfaction. Also, in effect, increases wages that the company can give it’s employees. That, and provides flexibility for adjusting prices of the product to meet customers’ demands.
With today’s world of instant “gotta have it now” mentality, a loyal customer will continue doing business where it’s fast.
Money’s a big motivator for someone to work somewhere.
And if a company has workers that’s happy with the pay, they typically do better work too, ultimately benefiting the customer.
This is a complex concept to most.
But with a company that can constantly meet the demands of supplying the customer with what they want, they have freedom.
They have freedom and flexibility to adjust the price as well.
You look at companies like Walmart that take pride in having “Always low prices.”
What they have is attractive to potential customers that know they can get a lower price at a business that’ll always stocked.
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