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BM II 102

LAP EC-018 Productivity

TermDefinition
Business Productivity the amount of goods and services produced by a business from a amount of resource
capital investment the amount of money the business has invested in its goods and other property
competitive advantage the edge achieved by business that offers something better than their competitors
disproportionately unsuitably, unreasonably, or inappropriately sized
division of labor dividing a large job units or job tasks and assigning an individual to do each of the tasks
Efficiency accomplishing task with a minimum expenditure of time and effort
goal setting the ability's to visualize, set and focus on achieving business objective
gross domestic product the final market value of the total output of all goods and services produced within a country geographic boundaries during a years game
gross domestic product per capita the average productivity of individuals workers calculated by dividing the gross domestics products by the workers hours required to produce it
inflation a rapid rise in prices that may occur when demand exceed supply or when productivity declines and costs of labor go up
inputs the specific economic resources used in producing goods and services
job orientation job preparation or introduction training in which new employees are acquainted with their surroundings receives general information about the company and its policies ad are given specific information about their jobs
labor the work people do or workers themselves
mass production the rapid production of large quantities of a product
objectivize goals to be reached
outputs the goods or services produced as the results of combining inputs
participative decision making the involvement of several individuals in making decisions in business the participation of employees in decision to be made by management
productivity the amount and value of goods and services produced(outputs) from set amounts of resources(inputs)
quality of work life the general conditions in which employees work
services business a type of business that performs intangible activates that satisfy the wants of consumers or industrial users
specialization the process of making the best use of resources in the production of goods and services
standards of living the general condition in which people live quality of life
standardization the organization of work so that it is always done in the same way
trend the general direction in which people or events are moving
workers productivity the amount of work a workers can perform in a given period of time
Created by: matthew.i235
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