MGTA02H3 Chapter Notes - Chapter 7: Workforce Productivity, Think Tank, Planned Obsolescence
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MGTA02H3 Full Course Notes
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Productivity: a ratio which measures how much gets achieved relative to the inputs that are used to achieve it. The more we are able to accomplish while using fewer inputs, more productive we are. In managing a business the ratio of outputs, or results achieved, relative to inputs is key measure of good management. Efficiency: another word for productivity; a ratio which measures how much gets achieved relative to the inputs that are used to achieve it. All resources are scarce and so it is in the best interest of the business to maximize its productivity or efficiency. Use measures of productivity a lot of the time; for ex the ratio of bits per second or. Internet system that works at 30 million bps will allow you to download movies twice as fast as one which downloads at 15 million bps.
