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BM II 102

LAP EC-018 Productivity

QuestionAnswer
Business Productivity The amount of good or services produced by a business. from a set amount of resources
Capital Investment The amount of money the business has invested in its goods and other property.
Competitive Advantage The edge achieved by business 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 objectives.
Gross Domestic Product The final market value of the total outputs of all goods and services produced within a country's geographic boundaries during a years' time
Gross Domestic Product Per Capita The average productivity of individuals 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 economics resources used in producing goods and services.
Job Orientation Job preparation or induction training in which new employees are acquainted with their surroundings receive general information about the company and its policies and are given specific information about their jobs.
Labor The work people do or the workers 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
Participate 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
Service Business A type of business that performs intangible activities that satisfy the wants of consumers or industrial users.
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