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BM II 102
LAP EC-018 productivity
| Term | Definition |
|---|---|
| business productivity | the amount of goods or services produced by a business from a set amount of resources |
| capital investment | the amount of money the business has invented in its goods and other property |
| competitive advantage | the edge achieved by businesses that offer something better that their competitors |
| disproportionately | unsuitability, unreasonably ,inappropriately sized |
| division of labor | dividing a large job into job units, or jobs tasks, assigning an individual to do each of the tsk |
| efficiency | accomplishing a task with a minimum expenditure of time and effort |
| goal setting | the ability to visualize ,set and focus on achieving business objectives |
| gross domestic product per capita | the average productivity of individual workers calculated by dividing the gross domestic product by the worker hours required to produce it |
| inflation | a rapid rise in prices that ,ay occur when demand exceeds supply or when productivity declines and cost of labor go up |
| inputs | the specific economic resources used in producing goods and services |
| job orientation | job preparation or induction training in which new employees are acquainted with their surrounding |
| labor | the work people do or the workers themselves |
| mass production | the rapid production of large quantities of a product |
| objectives | goals to be reached |
| outputs | the goods or services produced as the result of combining |
| participative decision making | the involvement of several individuals in making decisions in business the participation of employees in decisions to be made by management |
| productivity | the amount and value of goods and services produced from et amounts of resources |
| quality of work life | the general conditions in which employees work |
| service business | a type of business that performs intangible activities that satisfy the wants of consumers or industrial users |
| specialization | the process of making the best use of resources |
| quality of work life | the general conditions in which employees work |
| service business | a type of business that performs intangible activities that satisfy the wants of consumers or industrial users |
| specialization | the process of making the nest use of resources in the production of goods and services |
| standard of living | the general conditions in which people liv quality of life |
| standardization | the organization of work so that it is always done in the same way |
| Trend | the general direction in which people or events are moving |
| worker productivity | the amount of work a worker can perform in a given period of time |
Created by:
Torren
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