GMS 401 Lecture Notes - Lecture 2: North American Free Trade Agreement, Volvo S40, Taco Bell

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 401
• Professor: Omid Jahidi

Document Summary

Explain the difference between production and productivity: 2. Identify the critical variable in enhancing productivity: 5. Identify and explain three strategic approaches to competitive advantage. Quality may change while the quantity of inputs and outputs remain constant: 2. External elements may cause an increase or decrease in productivity: precise units of measure may be lacking. Labour- contributes about 10% of the annual increase: 2. Capital- contributes about 38% of the annual increase: management- contributes about 52% of the annual increase. Key variables for improved labour productivity: 1. Basic education appropriate for the labour force: 2. Social overhead that makes labour available: challenges is in maintaining and enhancing skills in the midst of rapidly changing technology and knowledge. Frequently focused on unique individual attributes or desires: 3. Often an intellectual task performed by professionals: 4. Often difficult to mechanize and automate: 5.