Textbook Notes (368,651)
Canada (162,033)
MGTA02H3 (363)
Chapter 2

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Management (MGT)
Chris Bovaird

Chapter 2: Increasing Productivity and Quality Productivity • A measure of efficiency that compares how much is produces with the resources used to produce it. • A ratio that compares -> resources : products/ inputs : outputs • GDP per Capita • Why it matters o People and raw materials cost money o The more time you spend making a product, the more it costs o The more materials you spend making a product, the more it costs o Operations managers concerned with the best way to make things National productivity o A measure of how productive an economy is o E.g. GDP/population or GDP/workers o A country is productive when it has plentiful, cheap, high quality factors of production Business productivity o An individual business’ measure of outputs (products or services) : inputs (labour, money, materials) o High ratio of outputs/inputs -> higher profits Quality • Text book: a product’s fitness for use in terms of offering the features that consumers what • Professor: meeting or surpassing the customers expectations • Neither definition mentions “fancy”, “expensive”, or “lots of features”, But both mention “customer” and “expectations • Superior quality: Give the custom
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