Textbook Notes (368,787)
Canada (162,165)
MGTA02H3 (363)
H Laurence (23)
Chapter 2

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Department
Management (MGT)
Course
MGTA02H3
Professor
H Laurence
Semester
Winter

Description
MGTA04 Chapter 2 increasing Productivity and Quality Productivity a measure of efficiency that compares how much is produced with the resources used to produce it Quality a products fitness for use in terms of offering the features that consumers want Measuring Productivity Labour ProductivityGDPTotal Workers Productivity varies from nation to nation because of many factors technologies human skills economic policies natural resources traditions Canadas competitiveness is a concern because we have been living off our rich diet of natural resources Canada needs to start emphasizing innovation and develop a more sophisticated mix of products if it hopes to be successful in international markets A country that improves it ability to make something out of its existing resources can increase wealth of all its inhabitants A decline in productivity shrinks a nations total wealth Manufacturing VS Service Productivity Manufacturing productivity is higher than service productivity because since the service sector focussed more on handson activity that machines couldnt replace it would be reo difficult to increase productivity in services Baumols diseaseProductivity gains are starting to appear among a wide array of service providers such as airlines pet stores package delivery companies provider of financial services and retail establishments by becoming more factories like Industry Productivity Agriculture is more productivity in Canada than in many other nations because we use more sophisticated technology and superior natural resources Technological advances have also given the computer industry a productivity edge in many areas Productivity of specific industries concerns many peopleLabour unionsfor negotiation contracts Investors and suppliersmaking loans buying securities planning future production Company ProductivityGives company a competitive edge because its costs are lower Make a greater profit Pay worker higher wages without raising prices Important to investors workers and managers Profitsharing plans are based on the companys productivity To plan for new products factories and funds to stay competitive
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