8 Questions
What is productivity typically expressed as?
The ratio of output to input
What is the term for the increase in productivity?
Productivity growth
Why is measuring productivity in services more challenging than in manufacturing?
It is more difficult to measure output
What is the term for the ratio of output of good product?
Process yield
What can standardizing processes and procedures lead to?
Increased productivity and quality
What can be a negative consequence of layoffs on productivity?
It can have a positive or negative effect
What can be a consequence of a shortage of information technology workers?
Decreased productivity
What can be a consequence of computer viruses?
Decreased productivity
Study Notes
Productivity
- A measure of the effective use of resources, expressed as the ratio of output to input.
- Can be computed for a single operation.
- A key factor in a country's rate of inflation.
Computing Productivity
- Measures can be based on a single input (partial productivity), multiple inputs (multifactor productivity), or all inputs (total productivity).
Factors Affecting Productivity
- Standardizing processes and procedures can increase productivity and quality.
- Quality differences can distort productivity measurements over time.
- Internet use can lower transaction costs, increasing productivity.
- Computer viruses can have a negative impact on productivity.
- Searching for lost items wastes time, affecting productivity negatively.
- Scrap rates signal inefficient resource use, affecting productivity.
- New workers tend to have lower productivity than experienced workers.
- Safety issues can negatively impact productivity.
- A shortage of IT workers and technical workers hampers company growth.
- Layoffs can have both positive and negative effects on productivity.
- Labor turnover negatively affects productivity.
Work Environment and Incentives
- Workspace design can impact productivity.
- Incentive plans that reward productivity increases can boost productivity.
This quiz covers the concept of productivity, its measures, and factors that affect it. Learn about partial, multifactor, and total productivity and how standardizing processes can increase productivity and quality.
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