What are the importance of specialization?

Question

i need points like (efficiency.......................)

Answer 1

1. Concentrate efforts on a narrow range of tasks, knowledge, skills, or activity.

2. Reduces costs and creates a means for efficient and effective productivity.

3. Products and Service have a great chance for growth & opportunity, creativity, and be considered highly distinguishable creating a COMPARATIVE ADVANTAGE which most organizations/companies try to achieve compared to the other products and services being offered in the industry.

Answer 2

One of the most useful concepts in economics is that of comparitive advantage. The idea is simple enough - by specializing at the tasks we are well suited at (relative to our abilities at other tasks) and by trading with people who have different specialties, we can make the economy better off as a whole. So instead of splitting my time between shoveling the snow off my driveway, growing my own crops for food, making my own clothes, and teaching economics, I specialize at teaching economics and get paid by people who specalize in growing crops or producing clothing. In turn, I pay people to do the tasks such as growing crops and making clothing, which I am ill-suited at.

Another benefit of specialization is the idea of 'learning-by-doing'. The more often I do a particular task, the more productive I become at that particular function and generally the quality of my output increases as well. The first time I build a birdhouse it might take me all day and I'm likely to make many mistakes. The second one, however, will likely not take as long to produce as I've learned many tricks and methods from my first attempt. After producing a few hundred birdhouses, I will have become an expert at the task and developed a number of methods to make the process as quick as possible. and more

Answer 3

1) The importance of specialization is we can forget basics. Example: The basic science that deals with nature, composition, properties, laws and classification of wealth has no name. Law of Conservation of Wealth which is the mother of all laws of economics and accounting finds no place in any book.

2) The second important advantage is that by forgetting basics we prolong solutions for burning problems in the name of specialization. In India there is not a single soil testing laboratory to test physical properties of soils of farmers' fields. We are out to conserve soil and water using ultra modern and super specialized techniques without teaching basics of what are soil physical properties to our farmers. We have gracefully forgotten importance of grass in improving ground water recharge and we don't respect grass root level knowledge. We are out to join rivers that are expensive.