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[A] cost driver is any factor which causes a change in the cost of an activity. [ citation needed ] However, a different meaning is assigned to the term by the business writer Michael Porter : "cost drivers are the structural determinants of the cost of an activity, reflecting any linkages or interrelationships that affect it". [ 1 ]
Productivity is a crucial factor in the production performance of firms and nations. Increasing national productivity can raise living standards because increase in income per capita improves people's ability to purchase goods and services, enjoy leisure, improve housing, and education and contribute to social and environmental programs.
Performance indicators differ from business drivers and aims (or goals). A school might consider the failure rate of its students as a key performance indicator which might help the school understand its position in the educational community, whereas a business might consider the percentage of income from returning customers as a potential KPI.
The impact factor relates to a specific time period; it is possible to calculate it for any desired period. For example, the JCR also includes a five-year impact factor, which is calculated by dividing the number of citations to the journal in a given year by the number of articles published in that journal in the previous five years. [14] [15]
An economic impact analysis (EIA) examines the effect of an event on the economy in a specified area, ranging from a single neighborhood to the entire globe. It usually measures changes in business revenue, business profits, personal wages, and/or jobs. The economic event analyzed can include implementation of a new policy or project, or may ...
In any given year, the CiteScore of a journal is the number of citations, received in that year and in previous three years, for documents published in the journal during the total period (four years), divided by the total number of published documents (articles, reviews, conference papers, book chapters, and data papers) in the journal during the same four-year period: [3]
For instance, most papers in Nature (impact factor 38.1, 2016) were only cited 10 or 20 times during the reference year (see figure). Journals with a lower impact (e.g. PLOS ONE, impact factor 3.1) publish many papers that are cited 0 to 5 times but few highly cited articles. [21]
In business, a competitive advantage is an attribute that allows an organization to outperform its competitors.. A competitive advantage may include access to natural resources, such as high-grade ores or a low-cost power source, highly skilled labor, geographic location, high entry barriers, and access to new technology and to proprietary information.