MGTA02H3 Chapter Notes - Chapter 7: Workforce Productivity, Total Quality Management, Planned Obsolescence

• School: UTSC
• Department: Management
• Course: MGTA02H3
• Professor: Arif Toor

Document Summary

Chapter 7 productivity: doing more with less: productivity: a ratio which measures how much gets achieved relative to the inputs that are used to achieve it, efficiency is another word for productivity, ex. Economic productivity: economic productivity: a measure of productivity that uses dollar value as the measure of output, ex. The us dollar is commonly used to compare the productivity of different countries: gdp: total value of all goods and services produced in a country, divided by the number of people living there. Prosperity is not the result of working long hours. Labour productivity: prosperit(cid:455) does(cid:374)"t (cid:272)o(cid:373)e fro(cid:373) worki(cid:374)g hard, (cid:271)ut worki(cid:374)g (cid:862)s(cid:373)art(cid:863) Labour productivity: a measure of the productivity of a (cid:272)ou(cid:374)tr(cid:455)"s la(cid:271)our for(cid:272)e whi(cid:272)h divides gdp by the total number of hours worked. Business productivity: business productivity = quantity or value of goods or services produced. Units per hour: high productivity = lower costs.