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This list as amended by the European Social Charter Additional Protocol of 1988 provides insight as to the breathe of the commitment to establish and ensure a level of social conduct that is contemporary and progressive. The foregoing also translates into companies having to elevate their interaction within society to include accepted norms as well as the implications.

4.3 Productivity

The importance of productivity in the equation of social responsibility is that it is that increased costs per unit of work represent decreased profits and in this era of consolidation, public share scrutiny, and market capitalization increased bottom line results are paramount. Viewing this same process, productivity, from the aspect of the moderate and smaller sized firms it means a reduced profit margin that could delay or negate capital improvements, and or the replacement and upgrading of equipment, fixtures, technological additions, marketing expenditures and thus competitiveness.

The preceding summary of the importance of productivity might seem to be overly dramatic in terms of its impending effect on a firm’s survivability however, the reality of companies either being acquired, sold or pushed out of business is the canvas upon which business is painted. Increased productivity enables a firm to exercise a number of operational and administrative variables in consideration of the highly competitive pool in which a company swims.

An increase in productivity, even in a small operation, yields an increase in profits which can be utilized to invest in better equipment, technological upgrades, wage increases to retain or secure qualified employees, reduce prices or offer a marketing concession to increase business volume or secure new clients. The manner and means in which an increased bottom line can be utilized are as numerous as the manner and ways productivity can be improved. The key component is to understand that an investment in increased productivity yields increased profits. This conclusion might seem obvious, however it’s understanding and practice are not as commonplace as one would imagine.

More sales, expansion into new territories, cutting costs, trimming benefits, better allocation of resources. The list of ways in which profits can be enhanced are numerous, the problem is the more successful a company becomes at achieving growth, regardless of the means, the more important productivity becomes as a result. Success, expansion, growth, and increased sales all require the same underlying input – production! The catering and hospitality sector requires laboratory meet ends which are timetable intensive as the delivery of food, its preparation, ordering of raw materials, waste, room preparations, laundry, grounds maintenance, telephone answering and clerk room registrations all require that these and other tasks be conducted on time. The importance and ability of employees to meet and handle the assigned job functions can have immediate effects on bottom line performance.

In its 2003 Budget Report the British government addresses productivity mentioning that it is a key variable in eco本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。