GMS 401 Lecture Notes - Lecture 2: Factors Of Production, Medical Diagnosis, Kilowatt Hour

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 401
• Professor: Payman Ahi

Document Summary

Outline: competitive advantage, developing missions and strategies, productivity challenge, productivity measures, productivity and service sector. 10 om strategic decisions: quality management, process and capacity design, location strategy, layout strategy. Registering at the university of his choice. Previous period productivity: productivity growth, example: if the productivity increases from 60 to 70, estimate the productivity growth rate, productivity growth rate= 70 60. Productivity measures: single-factor productivity, single-factor productivity = output. Sing input: labour productivity, productivity = units produced. Dollar value of output per dollar input: multifactor productivity, multifactor productivity= output. 300: average labour cost=/h (regular time, average labour cost = . 5/h (during overtime, total weekly working hours= 40, material cost = /kg, calculate multifactor productivity for each week, interpret the results. Productivity and service sector: productivity improvement in the service sector is difficult, because, typically labour intensive (e. g. , counselling, teaching, frequently focused on unique individual attributes or desires (e. g. ,