Relationships Between Productivity, Reputation, and Strategy

In: Business and Management

Submitted By jubyak
Words 1787
Pages 8
Relationships Between Productivity, Reputation, and Strategy Abstract:
Businesses seek to maximize productivity because it increases efficiency, motivates employees, and can help firms compete on the strategic elements of time, cost, and quality.
Productivity has been shown to be positively correlated with reputation such that firms with good reputations tend to have higher productivity. Reputation can be improved through corporate social responsibility initiatives that seek to enhance social and environmental wellbeing.
Improved reputation can provide a sustainable competitive advantage and increase the perceived quality of a firm’s goods or services.

Introduction
In the business world, it is well understood that increased productivity is highly desirable and leads to favorable economic results. Productivity can have numerous effects on a company, particularly in relation to financial performance. Strictly speaking, productivity is defined as output over input for any given unit under evaluation, such as a business, division, department, or a set of employees. However, this measurement can be a bit more complex since productivity is determined ­­ and affected ­­ by numerous variables, some of which are not readily apparent in the accounting setting. For example, a company’s reputation can have an impact on productivity and labor efficiency, as demonstrated by the findings presented by Marty
Stuebs and Li Sun in their article “Business Reputation and Labor Efficiency, Productivity, and
Cost” (2010).
Stuebs and Sun found that reputable firms, as determined by
Fortune
’s Most Admired
Companies list, had a positive correlation with labor efficiency due to increased productivity compared to matched firms with similar characteristics aside from reputation. Labor efficiency is measured by dividing…...

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