MGTA02H3 Chapter 2: Chapter 2- Increasing Productivity and Quality

• School: UTSC
• Department: Management (MGT)
• Course: MGTA02H3
• Professor: Bill Mc Conkey

Document Summary

1- describe the connection between productivity and quality. Productivity- a measure of efficiency that compares how much is produced with the resources used to produce it: the more we produce the right things while using less resources, the higher productivity grows. Quality- a product"s fitness for use in terms of offering the features that consumers want. Labour productivity- partial productivity ratio calculated by dividing gross domestic product by total number of workers. It compares a country"s total annual output of goods and services with the resources used to produce that output. Productivity among global competitors: productivity differ from nation to nation because of many factors: human skills, economic policies, natural resources, traditions. Domestic productivity: nations must be concerned about domestic productivity regardless of their global standing, workers: higher wages when productivity , lower wages when productivity . Investors: higher profits when productivity , lower profits when productivity : customers: lower prices when productivity , higher prices when productivity .