Some advantages of the division of labor include increased worker efficiency and lower production costs, while some disadvantages include decreases in employee motivation and individual workers slowing the production process. The concept of the division of labor was first put forward by Adam Smith as a means to increase economic growth. He reasoned that employees could work faster if job tasks were broken down and assigned to specific workers.Know More
One key advantage of the division of labor is that worker output can increase exponentially. If an employee performs the same set tasks each day, then he becomes an expert at his job over a period of time. As a result, he takes less time to complete each task and thus can complete more tasks overall. Also, from an employer's point of view, fewer resources are spent updating employees on new tasks because they do not change working roles.
However, the division of labor can cause the workforce to lose motivation because there is little chance of career progression. Performing the same tasks every day can become repetitive, and once enjoyment declines, production may also follow. Additionally, as each worker is in control of a specific part of the production line, all it takes for the whole process to go astray is for one employee to make a mistake. Then, others cannot complete their tasks.Learn more about Business Resources
International trade lowers the cost of products through competitive advantages, but it can lead to harm for communities and nations. Workers in developed nations are sometimes replaced by counterpart in developing nations. Work conditions in developing nations can be exploitative.Full Answer >
An advantage is that primary data is information the researcher has collected and worked with personally. It relates directly to that person's research or study. A disadvantage of primary data is that it is expensive to collect the data, and it often takes a long time to process the information.Full Answer >
Unethical and ethical business practices can both make money legally, but while ethical business can be more difficult to conduct it also builds longer-lasting customer relationships and constructs recognized and respected brands. Unethical business is not bound by consideration for customer well-being and can thus profit without scruple.Full Answer >
Privatization is advantageous because it improves efficiency and profitability, prevents political interference and increases competition. According to The Guardian, privatization is disadvantageous because it can create private monopolies and a focus on profits rather than public interest in the delivery of essential services, such as healthcare.Full Answer >