Reading time: 4 min Link copied. facebook twitter whatsapp linkedin His origins His interest in science and technology led him to invent and patent the first steam engine to ventilate galleries and greatly improve mining productivity and safety. All this a century before James Watt (1769) patented his steam engine to revolutionise the transport and mobility of people and goods, a fundamental lever of the first industrial revolution. Technological developments such as these boosted the productivity of companies and increased the export and import of products and services. What is productivity? Productivity is nothing more than an economic measure that relates the products obtained and the resources used to obtain them. Without it, the performance and competitiveness of a company or economy cannot be understood. To measure it, labour productivity, which relates total output to the number of employees, productivity per hour worked, which relates total output per hours worked, and total factor productivity (TFP), which relates total output by the weighted sum of all factors, including labour, capital, any input and of course technology. This is the most comprehensive measure and reflects the total efficiency of all resources used. Relationship between productivity and digitalisation When implementing business processes […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
