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Productivity Management Notes/Study Material
A country’s level and rate of productivity growth have a significant bearing on its standard of living, inflation, unemployment rate, and general economic well-being. Today, productivity and quality have become the national concern of both the developing and the developed economics. However, efforts to improve a country’s productivity level and growth rate have to begin with its basic economic units, namely, companies/enterprises.
Productivity is a relationship between the output (product/service) and input (resources consumed in providing them) of a business system. The ratio of aggregate output to the aggregate input is called productivity.
Productivity = output/Input
For survival of any organization, this productivity ratio must be at least 1.If it is more than 1, the organization is in a comfortable position. The ratio of output produced to the input resources utilized in the production. Higher productivity in organization leads to national prosperity and better standard of living
for the whole community
As a subject of study, Productivity Management has attracted considerable attention from all quarters. Having understood the importance of the subject, it has been included in all management programmes. The subject is taught in MBA, M.Com and other management related courses all over the country.
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