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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 |
| Capital Investment | The amount of money the business has invested in its goods and other property |
| Competitive Advantage | The edge achieved by business that offer something better than their competitors |
| Disproportionately | Unsuitability, Unreasonably , or Inappropriately sized |
| Division of labor | Dividing a Large job into units, or job tasks, and assigning an individual to do each of the tasks |
| 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 | The final Market value of the total outputs of all goods and services produced within a country's geographic boundaries during a years time |
| 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 may occur when demands exceed supply or when productivity declines and cost of labor go up |
| Inputs | The specific economic resources used in producing foods and services |
| job Orientation | Job preparation or induction training in which new employees are acquainted with their surroundings, receive general information about the company and its policies , and are given specific information about the job |
| 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 inputs |
| 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 (outputs) from set amounts of resources (inputs) |
| Quality of work life | The general conditions in which employees work |
| Service Business | A type of business that performs intangible activities that satisfy |
| Specialization | the process of making the best use of resources in the production of goods and services |
| Standard of living | general conditions in which people live; quality of life |
| Standardization | organization of work so that it is always done in the same way |
| Trend | 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 (customer served per hour |
Created by:
Julianr.
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