What is productivity?
Comparison of average total productivity levels between the OECD member states. Productivity is
measured as GDP per hour worked. Blue bars = higher than OECD-average productivity. Yellow
bars = lower than average.
Activity can be identified with production and consumption. Production is a process of combining
various immaterial and material inputs of production so as to produce tools for consumption. The
methods of combining the inputs of production in the process of making output are called
technology. Technology can be depicted mathematically by the production function which
describes the function between input and output. The production function depicts production
performance and productivity is the metric for it. Measures may be applied with, for example,
different technology to improve productivity and to raise production output.
http://www.accel-team.com/productivity/productivity_01_what.html
What is productivity (in Business)? I would really appreciate it if someone can explain productivity
in SIMPLE terms. How does lowered productivity affect a company?
productivity is a business' ability to get the job done and well...produce stuff. if a company has low
productivity they will fall behind on deadlines and the companies overall earnings will suffer.
http://wiki.answers.com/Q/What_is_productivity
Productivity in Economics is simply the ratio of how much you can produce (Output), based on the
resources available (Inputs). This is usually linked to production theory.
http://channel9.msdn.com/posts/Glucose/Hanselminutes-on-9-What-is-Productivity/
When news stories mention “productivity,” they almost always mean labor productivity, which
measures the output that an hour of labor produces. Often expressed as “output per hour” or
“output per worker-hour,” labor productivity tends to focus on manufacturing rather than services
because manufacturing output is easier to quantify.
And if you want productivity figures for the entire auto industry, the numbers are readily available.
The Big Three — Daimler-Chrysler, Ford, and General Motors — know exactly how many vehicles
roll off their assembly lines, and they have an accurate idea of how many hours their employees
work.
http://www.statcan.gc.ca/studies-etudes/75-001/archive/e-pdf/105-eng.pdf
Productivity measures the efficiency with which resources such as labour or capital are employed
in the production process. There are two widely used productivity measures; labour productivity
and multifactor productivity.
Labour productivity is measured as real output per hour worked. Multifactor productivity, a
broader measure of efficiency, is measured as real output per unit of combined inputs (capital,
labour, etc).
http://www.bls.gov/lpc/faqs.htm
For tangible products such as tons of steel, developing an output index series and ultimately a
productivity series seems not to be too difficult. How are measures developed for those industries
where data on quantities produced are not available? How do you, for example, measure the
output of barbershops?
Advances in productivity, that is the ability to produce more with the same or less input, are a
significant source of increased potential national income. The U.S. economy has been able to
produce more goods and services over time, not by requiring a proportional increase of labor
time, but by making production more efficient.
http://www.bls.gov/mfp/mprfaq.htm
Labor productivity is the ratio of the output of goods and services to the labor hours devoted to
the production of that output. Multifactor productivity relates output to a combination of inputs
used in the production of that output, such as labor and capital or capital, labor, energy,
materials, and purchased business services (KLEMS). Capital includes equipment, structures,
inventories, and land.
The most commonly used multifactor productivity measure is for the private business sector of the
economy. This sector essentially measures the for-profit sector of the economy and it is the
broadest sector for which multifactor productivity measures are available.
http://ideas.repec.org/p/fip/fednsr/122.html
Employers, regardless of what type of business they manage, know that worker productivity is the
key to an organization’s success. Workers who are not using their time and resources effectively
are costing the company money. Unfortunately, measuring productivity can prove to be quite
difficult — especially in industries where work is primarily knowledge based.
Traditionally, worker productivity was figured by dividing comp
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