Productivity and Competitiveness Indicators (2004 – 2014) for Mauritius

Productivity and Competitiveness Indicators (2004 – 2014) for Mauritius

 

Output

During the period 2007 to 2014, the Gross Domestic Product (GDP) in real terms grew by an annual average of 3.8%. During the same period, the real output of the Manufacturing sector grew at a lower rate of 2.4% per annum and that of Export Oriented Enterprises (EOE) increased at an annual rate of 1.7%.

 

Labour input (employment) and labour productivity

From 2007 to 2014, labour input for the whole economy grew by an average of 1.5% annually, while that for the manufacturing sector and EOE declined by 0.5% and 2.8% respectively. Labour productivity, as measured by real output per person engaged, grew by an average of 2.3% annually for the whole economy. Higher growths of 3.0% and 4.7% were registered in Manufacturing and EOE respectively during the same period.

 

In 2014, labour input witnessed an increase of 1.3% against 3.0% in 2013; while GDP growth in 2014 was 3.5%, higher than the growth of 3.2% registered in 2013. Thus, labour productivity for the economy grew by 2.2% in 2014, higher than the 0.2% growth registered in 2013. Labour productivity for Manufacturing increased by 1.0% in 2014, slightly lower than the growth of 1.1% in 2013. On the other hand, EOE witnessed a further decrease in 2014 (-1.2%) after that of 2013 (-2.1%).

 

Capital input and capital productivity.

During the period 2007 to 2014, capital input grew at an average annual rate of 4.6% for the total economy whereas declines of 1.5% and 3.9% were recorded in Manufacturing and EOE respectively. However, because of low growth in output compared to capital input, capital productivity defined as the ratio of output to capital input, declined by 0.7% for the economy during the same period. On the other hand, increases of 4.0% and 5.9% were registered in capital productivity of Manufacturing and EOE respectively.

 

Capital productivity for the economy increased by 0.7% in 2014 compared to a decrease of 0.8% in 2013. This was due to a higher growth in GDP (3.5%) than in capital input (2.8%).

 

Average compensation of employees and Unit Labour Cost (ULC)

From 2007 to 2014, average compensation of employees increased by an average of 6.0% annually for the whole economy and by 6.3% for Manufacturing and 7.6% for EOE.  ULC defined as the remuneration of labour (compensation of employees) per unit of output, grew at an average annual rate of 3.7% for the total economy, 3.2% for Manufacturing and 2.8% for EOE, as a result of higher growths in average compensation of employees compared to labour productivity.

 

During the same period, due to appreciation of the local currency to the US dollar, ULC in Dollar terms, increased at an average annual rate of 4.1% for the total economy, 3.6% for Manufacturing and 3.2% for EOE.

 

In 2014, ULC (in MUR) for the economy rose further by 2.4% after an increase of 6.0% in 2013 while that of  the manufacturing sector rose by 1.8% after increasing by 0.4% in 2013.  In the EOE sector ULC registered an increase of 4.7% in 2014 after a growth of 6.5% in 2013. In Dollar terms, ULC in 2014 increased by 2.7% for the whole economy, 2.1% for Manufacturing and 5.1% for EOE.

 

Source: http: //statsmauritius.govmu.org/English/StatsbySubj/Pages/Productivity%282004-2014%29.aspx  

8 May 2015

10 Habits Successful People Give Up To Increase Their Productivity

10 Habits Successful People Give Up To Increase Their Productivity

Success is not by chance; it is result of long term effort and endeavors. Successful people grab opportunities, take risks and give up a lot, to be at the highest point in their lives. Successful people are not granted anything without effort or by luck; these are just excuses average people made to make themselves look good in their own eyes.

If you want to be among the successful people, stay on top of the game and want to achieve all your goals, give up these habits and join the elite club.

1. Successful people don’t give up where their comfort zone ends.

Challenging your own self is the ultimate point of success. You challenge yourself when you push beyond your comfort zone and that is the point when your success story begins. When you go out of familiarity and control zone, then you take risks and try new things. Every risk taken and every new thing tried is a step forward on the road of success.

2. They don’t measure success in financial terms

Money brings peace of mind and predictability for future but money does not define your success. Successful people are more concerned with their growth in terms of character, public standing and their positive contribution to society and their loved ones. Having multiple touchstones of success helps to keep things in perspective and gives multiple dimensions in life.

3. They are not shy of questioning and asking for advice

Asking for advice from mentors or coach or someone experienced gives a new facet, a new point of view of the same situation. When you ask advice from trusted people, you get the chance not to repeat mistakes others made and you come out with possible solutions and options. Questioning is sometimes difficult but at the end of it questioning makes you learn new things and as they said asking a question makes you a fool for a moment but not asking makes you a fool forever.

4. They do not make excuses for failures

Putting burden of your failure on circumstances, nature or other people is sure short way to deceive yourself. No one is responsible of your success of failure except your conscious decisions and choices. When you take responsibility of everything happening in your life, you are bound to make efforts in positive direction towards success.

5. They don’t follow, they lead

Successful people take the less travelled route, they take positive risks, make things happen for them and thus people follow them. They are the ones who are inspiring for others because they are more established internally and externally. Only following the leaders will only make you among the average people who did the safe things and thus only achieved the predictable.

6. They do not stop learning

Learning is a never ending process. When you stop learning, you stop going any further than where you are. Learning from others and from your own experiences is crucial for moving forward. You learn both by your mistakes and by right decisions. Everything you experience is your chance to learn.

7. They do not judge themselves by others’ opinions

Everyone has their own perception and their own set of values. You have your own set of problems, solutions, circumstances and values. So there is no point in trying to please everyone and to achieve a common set of everything with everyone. This is impossible and a futile practice.

8. They do not set blurry generic goals

Your goals define your personality. Having vague and generic goals means you do not have anything to measure your success against, you cannot monitor your progress against generic goals. For example, I want to be on top of my career is simply a vague statement but I want to be CEO of my company or I want to be in the list of top ten professionals in my field is a solid goal.

9. They do not live in the past

Past is unchangeable and beyond control but today is what you have. Today is all you have that you can change or control or make available for yourself. Learn from your past and move on. Spending too much time and effort on past means you are sacrificing your future for your past and this is not something anyone can afford if they want to be successful. Living in the past deprives you to enjoy the present and to work towards your future.

10. They do not resist change

People resist change when they fear it. Accommodating the change that comes in your way and to adapt to the new situation saves a lot of time that you would otherwise waste in actively or passively resisting change. On the other hand, changing yourself positively is key point in moving forwards.

Source: http://www.peacequarters.com/10-habits-successful-people-give-up-to-increase-their-productivity 5 May 2015

10 Productivity Questions to Ask Yourself Every Day

10 Productivity Questions to Ask Yourself Every Day

“Today is going to be a productive day.”

That’s what you tell yourself as you get out of bed in the morning. However, before you know it, you are 15 minutes late leaving the house for work. You arrive having missed the beginning of your first appointment. Then, you realize that you forgot the paperwork for your afternoon errand.

How could you have been better prepared?

Planning for Your Day

Everyone has had one of those days when your day is already off the rails before it gets started.

Getting your day in order should be done each morning, before you leave the house. “Leaving the house without planning your day, is a plan for a really bad day.”

It’s about knowing in advance what you need to do, where you need to be, and having the materials/information to get your work done.

Here are 10 Productivity Questions That You Should Ask Yourself Every Single Day:

1. What is on your TODAY list?

You may have a todo list a mile long, but what are the tasks that you absolutely must get done today? This sub-list of tasks is your TODAY list. Know what’s on it.

2. What is on your calendar today?

What appointments and meetings do you have today? Do you have any time reserved for yourself or is your entire day already booked?

3. What do you need to bring with you?

Again, review your Today List and calendar to make sure you have the materials you need for your day.

4. What is your number 1 task for the day?

Simply put, what is your single most important task today. If you get only 1 thing done today, it will be this task. (Hint: Do it early and get it done.)

5. What is one task that you could do today that you wouldn’t have?

Sometimes you just can’t get going.  So do one low energy task.  These extra steps make all the difference to feeling productive, which turns into being more productive.

6. What are you doing that you shouldn’t be?

What are you doing that should be on someone else’s plate? Maybe it isn’t your task, or perhaps it is something you should be delegating.

7. Where will you waste time today?

You probably know where/when/what you will waste time on today. Think about this in advance. It could be the daily gossip session at work, a game on your phone, or surfing the web. What can you do to avoid these time wasters?

8. What new habit do you need to practice (DO) today?

You are what you do today. What habit do you need to do today (and every day?) Don’t put it off. Read that book, fit that workout in… Whatever yours is… get it done.

9. What step toward your goals will you take today?

BIG Goals are done day-by-day and step-by-step. Among all the hustle and bustle of the day, what step forward toward your goals will you take?

10. What will you learn today?

If you are not learning each day, you are becoming obsolete. What will you learn during the course of your day?

Ready for a Productive Day

When you are ready for your day, you’re in a position to be proactive instead of just reacting to what life throws in your path today.

Ask yourself these 10 questions each day… before you head out the door.

Source: http://timemanagementninja.com/2015/01/10-productivity-questions-to-ask-yourself-every-day/ 9 Jan 2015

 

Three Simple Ways To Boost Your Productivity

Three Simple Ways To Boost Your Productivity by Yan Revzin

Productivity can be a major challenge when you’re in business for yourself. This can be especially difficult for people making the transition from employee to entrepreneur. Unlike a job, business owners must set their own schedules and manage their own time. Entrepreneurs often feel as though the day isn’t long enough to fit in everything that needs to be done. In my own time as an entrepreneur, here are three key things I’ve found that can help any entrepreneur become more productive.

1. Identify Your Ideal Work Environment

When you have a job, you go to work at the office or wherever the job is located. Entrepreneurs, on the other hand, have more flexibility in this area. You can work from home, rent an office or even work from your laptop in a cafe. Or, if there’s an ocean nearby, at the beach. Yet, if you don’t find the right environment for you, it will be hard to be productive.

Working at home is great for some people, but for others it presents too many distractions. Likewise, some people find that traditional offices stifle creativity. On the other hand, you might find that an office helps you focus. Working from your laptop at your neighborhood cafe, which has become a cliche for living the “Internet lifestyle,” is another option that may or may not be right for you. It’s perfect for some, but others find crowded public spaces too distracting.

You may even be an entrepreneur that thrives on variety. In this case, you might vary your work locations from day to day. Others are just the opposite and need a stable workplace to feel centered and productive. It’s important that you figure out which category you fit into so you can find the work environment that brings out the best in you.

2. Be Aware of the Pareto Principle

The Pareto Principle, known also as the 80-20 rule, roughly states that 20% of your efforts product 80% of your results. While it would be hard to prove whether or not this exact number is correct, the general principle is valid in most cases. The point is that a few actions generate a majority of results, and to identify which actions reap these greatest rewards. To understand how the Pareto Principle works, try to identify areas of your business where it might be relevant. For example:

• 20% of your products might account for 80% of your sales
• 20% of your website pages might account for 80% of your traffic
• Or 20% of your clients might produce 80% of your revenue.

Keep in mind that this principle applies to undesirable events as well as positive ones. For example, 80% of your refund requests might come from 20% of your products.

This concept can help you identify both productive and unproductive aspects of your business. When it comes to negative events, you can sometimes simply get rid of the problem (such as the 20% of products that people are returning). On the other hand, you obviously want to devote more resources to the areas that create the best results.

3. Reduce Distractions

Distractions can never be entirely eliminated, as they are simply part of life. However, entrepreneurs need to be aware of how to avoid distractions that cut into their productivity. For many people, the Internet is one of the biggest distractions of all.

Only check email, Facebook and other social media accounts at certain times during the day. Avoid the temptation to do this every few minutes. There are now many apps designed to help you block distractions. One of the most popular is called Freedom, and it’s available for Windows, Mac and Android. You tell the app how long you want to focus and for this duration you’ll be blocked from surfing the web.

The phone can be another distraction. While some calls are obviously necessary for business, if you are constantly making and answering the phone, it can be difficult to concentrate on a task. For periods of time when you have to work solo on a project, you can always turn off your phone. Try to schedule business calls the same way you would in-person meetings, so you aren’t disturbed at random times.

Staying productive is essential for anyone who wants to build a successful business. There are many strategies that can help you become more efficient and better manage your time. In addition to the above three tips, try to identify any particular obstacles that tend to make you less productive. Then see if you can devise a strategy to overcome this obstacle and take your productivity to the next level.

Source: http://www.forbes.com/sites/theyec/2014/07/11/three-simple-ways-to-boost-your-productivity/