Defining Personal Productivity

For me, personal productivity means the ability to deliver results when needed, may it be something to your boss or for yourself. Furthermore, the results should be achieved without too much negative stress. How often have you achieved this? Most of us have been truly productive quite seldom. I think that this is something that can be developed, by learning a specific set of six crucial skills. I’ll run them down for you below.

Learning is important for personal productivity. Just think about all the new stuff and things we need to learn, only to keep functioning. If nothing else, the user interface of Facebook has suddenly changed, and you have to learn that all again. Ways to learn more easily include faster reading, using mind maps, and for the more advanced also mnemonics (the art of memory tricks).

Organization skills are also very important, as we are constantly overflowed with new things, papers, and information. Some things we should keep and store, others we should immediately get rid of, or they will just increase the amount of clutter lying around. Personal organization methods can really come handy at such situations. Just think what it means to your productivity,when you manage to find that receipt from 2 months ago within 30 seconds of the situation when you need them.

I see time management as a sub skill to personal productivity. With time management, we refer to the art of keeping your calendar in order, and managing task and email. Good time management also means minimizing the time used for procrastination.

In order to get results, we also have to keep fit mentally. Stress will wear you down, if you are not careful. Luckily there exists practices like mediation, but doing sports and meting friends will do as well. The point is, however, this: even in the most hectic work situations, keep calm. With a stable mind, everything is easier, which leads to increased productivity.

One interesting area is creativity. Our work today if filled with problems, and basically we all get paid for solving them. Can you imagine that there actually exists dozens of small tools to help you on that area? Having creativity handy when you need it, will help you finish that presentation your boss is waiting for, making you both happy. Your boss gets his fast delivery, and you can go home earlier.

Last but not least we have decision making. We all know people who cannot make even the smallest decision, they simply don’t have the guts to do it. What do I say again? There exists tools to help you.

Putting in some effort and studying even little in the areas above will help your personal productivity.

The Product Life-Cycle Concept

Because we live and work in a dynamic market situation, managers must accept as the normal state of affairs that all products have a limited life. This fact is commonly expressed in the form of the product life-cycle curve. Products during their existence go through the phases indicated on the curve, as follows:

1. Starting before, sometimes long before, a product reaches the marketplace, there is a development phase. Market research must be undertaken, the product designed, prototypes built, plants laid down. While costs can be very high, income will initially be nil and will probably grow only slowly. Profits are a long way off yet. Many products are slow to ‘catch on’ and this part of the curve typically does not rise steeply.

2. During the growth phase the product reaches general acceptance, and sales increase steeply. Profits mount as development costs are recovered and unit costs decrease with greater volume of production.

3. As the product reaches maturity, initial demand is beginning to be satisfied, competitors may have arrived on the scene, and there will be greater reliance on replacement sales. Sales increase more slowly, and profits come under pressure and may start to decline.

4. When the market is fully saturated, sales will ‘peak off’ and profits decline still further.

5. Finally, sales will go into definite decline and margins come under very severe pressure as it becomes increasingly costly to maintain sales at a reasonable level.

The curve for any particular product may be steeper or flatter, the time-scale may be longer or shorter. Some products seem to go on for a very long time. For this reason the pattern must be applied with care. In addition, we must be careful what we mean by a product in this context: for example, the market for glass has risen steadily over the past 50 years, but within this period the sale of lamp glasses has declined and that of milk bottles has risen steeply (to decline again in some countries in face of competition from waxed cartons or plastic and the change from doorstep delivery to bulk purchase from the supermarket).

Nonetheless the typical pattern stands as a warning that it is dangerous to rely too heavily for too long on one product, so that, as profit from one declines, profit from its successor rises to fill the gap. Ideally this will give a steadily rising profit for the company as a whole, even though some products have entered the ‘decline’ phase of the product life-cycle.

It must be emphasized that the product life-cycle diagram is not a rigid description of exactly how all products always behave. Rather it is an idealized indication of the pattern most products can be expected to follow.

There is nothing fixed about the length of the cycle or the lengths of its various stages. It has been suggested that the length of the cycle is governed by the rate of technical change, the rate of market acceptance and the ease of competitive entry. So, each year numerous new fashion styles are introduced, many of them to last only a few months. At the other extreme, a new aircraft must have many years of life if it is to be commercially worthwhile.

The main importance of the life-cycle concept is to remind us constantly of the three following facts:

1. Products have a limited life;
2. Profit levels are not constant but change throughout a product’s life in a way that is to some extent predictable;
3. Products require a different marketing programme at each stage of their life-cycle.

Implications of the Product Life-cycle

If we have to accept that no product will go on earning profits indefinitely, then we must plan so as to have a whole succession of new products coming ‘through the pipeline’. Peter Drucker has drawn attention to the need to keep all products under review to ensure that not too high a proportion are at the end of their life-cycle. He describes the following six categories:

1. Tomorrow’s breadwinners – new products or today’s breadwinners modified and improved;
2. Today’s breadwinners – the innovations of yesterday;
3. Products capable of becoming net contributors if something drastic is done;
4. Yesterday’s breadwinners – generally products with high volume, but badly fragmented into ‘specials’, small orders and the like;
5. The ‘also raps’ – generally the high hopes of yesterday that, while they did not work out well, nevertheless did not become outright failures;
6. The failures.

Product Elimination

From the product life-cycle concept and Drucker’s analysis of product categories, it follows that all products must be kept under review to assess their present and likely future contribution to profits. A common mistake of marketing management is to keep in the range products that have little or no prospect of contributing to profits. Products are kept in the range until they fade away, meanwhile consuming valuable resources, which could be more profitably utilised elsewhere. These marginal products lower the company’s profitability, and it is essential to control them.

Source: http://en.articlesgratuits.com/the-product-life-cycle-concept-id1560.php

How to Increase Your Personal Productivity

Sarah was envious of her colleague who manages to get off work on time every day. She seems to be able to accomplish all her projects on time. In addition to that, she has the time to offer help to the rest of her members on her team. Sarah, on the other hand has to take her work home in order to complete her project on time.

Her colleague, Betty always has a list to check off from before she leaves for the day. In addition, she has a separate list whereby she lists her task for the next day. She wondered if that small piece of paper laid the secret to her personal productivity. Sarah decided to find out from her colleague, Betty.

According to Betty, the small list which she wrote out the day before allows her to plan her day the next day. This is indeed one of her secrets to personal productivity and helps her to plan out her work the day before. She knows exactly what she needs to get done and accomplish for the day.

Besides that, these are the three additional personal productivity tips she has to share with her.

#1 Do a time audit

Time is a finite resource. In order to increase your personal productivity, you have to know how you are spending your time. A single table listing every activity you do and the time taken for each will reveal how you are spending your time. For instance, Betty discovered during the time audit that she was previously spending a lot of time surfing the Internet the minute she logged onto her email account at the beginning of the day. Thus, she decided to read work related email once she has completed her most vital task for the day instead of at the beginning of her work day.

#2 Set Goals

In order to make best use of your time, you have to set goals. The best way to manage your daily activities is to take your annual goals and break them into monthly, weekly and daily action steps to take.

You can better manage your time on a daily basis if you first begin the day by listing the tasks that need to be accomplished. By having a list of goals, you can also evaluate your progress on a daily basis.

#3 Monitor your progress

What gets measured improves. Once you have listed your tasks for the day, you have to evaluate your progress.

For a start, evaluate your progress on an hourly basis to ensure you have accomplished what you have set out to do in that hour. Once you are familiar with this process, you can evaluate your progress on a daily basis and subsequently on a weekly basis.

To continue to find new ways to increase your productivity at work, always take an hour a month to evaluate your activities and list down the things that can be delegated to free up your time. This one hour investment of your time also allows you to improve the process at work. You can further improve your personal productivity by using personal productivity tools.

The key to increasing your personal productivity lies in identifying your tie wasters, setting goals and evaluating your progress regularly.