MGTA02H3 Chapter Notes - Chapter 2: Business Process, Blic, Business Process Reengineering
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MGTA02H3 Full Course Notes
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Productivity: a measure of ef ciency that compares how much is produced with the resources used to produce it. By using resources more ef ciently, the quantity of output will be greater. Quality: a product"s tness for use in terms of offering the features that consumers want. When 1 country is more productive to another -> more wealth. As quality ^, more rms will receive 31094 for them. Labour productivity of a country = gross domestic product total number of workers. Productivity among global competitors: different countries have different output/hour, it differs due to differences in technologies, human skills, economic policies, natural resourcesetc. Domestic productivity: when a country improves its ability to be productive, wealth increases. If there"s a decline in productivity, wealth decreases, so the increase of one person"s wealth comes only at the expense of others whom he or she shares an economic system. Manufacturing productivity is higher than service productivity.
