Final answer:
The pros of a lower touch, higher volume practice include higher efficiency, more leisure time for staff, and lower overhead costs, leading to increased profitability and potentially earlier retirement for business owners.
Step-by-step explanation:
The pros of a lower touch, higher volume practice include a range of benefits that can enhance the efficiency and profitability of a business. Firstly, such a practice typically leads to higher efficiency because processes are standardized and optimized to handle a larger number of clients or transactions with minimal personalized interaction. This streamlined approach can reduce the time and effort required for each transaction, allowing for a higher throughput of work.
Secondly, staff may enjoy more leisure time as a result of the business being efficiently managed. When processes are designed to handle high volumes efficiently, there may be less of the ad-hoc and intensive problem-solving that can lead to overtime and stress. Additionally, lower touch approaches can contribute to lower overhead costs, as these often involve automation and other scale-economies that reduce the reliance on extensive human labor.
Overall, these factors combined can lead to substantial cost savings that might even facilitate early retirement for business owners and result in a healthier work-life balance for employees. Not to mention, consumers typically benefit from the lower prices and greater variety of goods that efficient, high-volume operations can offer.