BUS 237 Chapter Notes - Chapter 3: Gross Domestic Product, Business Process, Information System

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BUS 237 Full Course Notes
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BUS 237 Full Course Notes
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Document Summary

Labour productivity is the ratio of the gross domestic product (gdp) of a country divided by the total paid hours worked by people in the country. Productivity paradox - the lack of evidence of an increase in worker productivity associated with the massive increase in investment in information technology. Productivity - the creation of business value. Business value - tangible benefits for organizations through either more efficient use of resources or more effective delivery of their services to customers. Three different ways the value of it can be realized. Productivity: it allows a company to create more and/or better output from the same inputs and create them faster than before the technology was in place. Makes the firm more efficient and potentially more effective. Structure of competition: it can alter the way corporations compete. Benefits to the end customer: it helps make processes more efficient and changes the nature of competition.

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