Textbook Notes (381,132)
CA (168,365)
UTSC (19,305)
MGT (1,095)
MGTA02H3 (363)
Chapter 2

Chapter 2 - Study Guide

2 Pages
67 Views

Department
Management (MGT)
Course Code
MGTA02H3
Professor
Chris Bovaird

This preview shows half of the first page. Sign up to view the full 2 pages of the document.
Chapter 2 Study Guide
Productivity: A measure of efficiency that compares how much is produced with
the resources used to produce it
Productivity considers both the amounts and the quality of what is produced
Quality: A products fitness for use in terms of offering that consumers want
Labour Productivity of a Country = gross domestic product (GDP)
Total number of workers
Partial productivity ratio calculated by dividing GDP by total number of workers
Productivity in among global competitors differs due to the various factors:
technologies, human skills, economic policies, natural resources and even traditions
Canadas competitiveness is a concern because we have been living off our rich diet
of natural resources
A country that improves its productivity increases its nations total wealth.
Whereas, if productivity goes down an increase in individual incomes comes at a
cost to other individuals
Higher productivity = lower costs (expenses) = lower product prices or greater profit
margins
Productivity is important to investors (buying and selling stocks), workers (higher
wages or profit sharing), & managers (planning for the future)
Baumols Disease: a theory by William Baumol who argued that since focused on
hands-on activities that machines could not replace, it would be more difficult to
increase productivity. (This theory is no longer accepted due to the vast
improvements in technology)
Total Quality Management (TQM): a concept that emphasizes that no defects
are tolerable and that all employees are responsible for maintaining quality
standards
Performance Quality: the overall degree of quality; how well the features meet
consumers’ needs and how well the product performs
www.notesolution.com

Loved by over 2.2 million students

Over 90% improved by at least one letter grade.

Leah — University of Toronto

OneClass has been such a huge help in my studies at UofT especially since I am a transfer student. OneClass is the study buddy I never had before and definitely gives me the extra push to get from a B to an A!

Leah — University of Toronto
Saarim — University of Michigan

Balancing social life With academics can be difficult, that is why I'm so glad that OneClass is out there where I can find the top notes for all of my classes. Now I can be the all-star student I want to be.

Saarim — University of Michigan
Jenna — University of Wisconsin

As a college student living on a college budget, I love how easy it is to earn gift cards just by submitting my notes.

Jenna — University of Wisconsin
Anne — University of California

OneClass has allowed me to catch up with my most difficult course! #lifesaver

Anne — University of California
Description
Chapter 2 Study Guide Productivity : A measure of efficiency that compares how much is produced with the resources used to produce it Productivity considers both the amounts and the quality of what is produced Quality: A products fitness for use in terms of offering that consumers want Labour Productivity of a Country = gross domestic product (GDP) Total number of workers Partial productivity ratio calculated by dividing GDP by total number of workers Productivity in among global competitors differs due to the various factors: technologies, human skills, economic policies, natural resources and even traditions Canadas competitiveness is a concern because we have been living off our rich diet of natural resources A country that improves its productivity increases its nations total wealth. Whereas, if productivity goesdown an increase
More Less
Unlock Document


Only half of the first page are available for preview. Some parts have been intentionally blurred.

Unlock Document
You're Reading a Preview

Unlock to view full version

Unlock Document

Log In


OR

Don't have an account?

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


OR

By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.


Submit