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BM II 102
LAP EC-018 Productivity
| Term | Definition |
|---|---|
| business productivity | the amount of goods or services produced by a business from a set amount of resources |
| capital investment | the amount of money a business has invested in its goods and other property |
| competitive advantage | the edge achieved by businesses that offer something better than their competitors |
| disproportionately | unsuitably, unreasonably or inappropriately sized |
| division of labor | dividing a large job into units or job tasks and assigning an individual to do each of the tasks |
| efficiency | accomplishing a task with a minimum expenditure of time and effort |
| goal setting | the ability to visualize set and focus on achieving business objective |
| gross domestic product | the final market value of the total outputs of all goods and services produced within the a country's geographic boundaries during a years time |
| gross domestic product per capita | the average productivity of individual workers calculated by dividing the gross domestic product by the worker hours required to produce it |
| inflation | a rapid rise in prices that may occur when demand exceeds 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 induction training in which new employees are acquainted with there surroundings receive general information about the company and its policies and are given specific information about there job |
| labor | the work people do or the workers do themselves |
| mass production | the rapid production of large quantities of a product |
| objectives | goals to be reached |
| outputs | the goods or services produced as the result of combining inputs |
| participative decision-making | the involvement of several individuals in making decisions in business the participation of employees in decisions to be made by management |
| productivity | the amount and value goods and services produced from set amounts of resources |
| quality of work life | the general conditions in which employees work |
| service business | a type of business that performs intangible activities that satisfy the wants of consumers |
| speciali |
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tamaurie17
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