Article
Article
Productivity
Article By:
Tonkay, Gregory L. Department of Industrial Engineering, Lehigh University, Bethlehem, Pennsylvania.
Last reviewed:January 2020
DOI:https://doi.org/10.1036/1097-8542.547310
In a business or industrial context, the ratio of output production to input effort. The productivity ratio is an indicator of the efficiency with which an enterprise converts its resources (inputs) into finished goods or services (outputs). If the goal is to increase productivity, this can be done by producing more output with the same level of input. Productivity can also be increased by producing the same output with fewer inputs. One problem with trying to measure productivity is that a decision must be made in terms of identifying the inputs and outputs and how they will be measured. This is relatively easy when productivity of an individual is considered, but it becomes difficult when productivity involves a whole company or a nation.
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