...Productivity One primary responsibility of a manager is to achieve productive use of an organization’s resources. The term productivity is used to describe this. Productivity is an index that measures output (goods and services) relative to the input (labor, materials, energy, and other resources) used to produce it. It is usually expressed as the ratio of output to input. Although productivity is important for all business organizations, it is particularly important for organizations that use a strategy of low cost, because the higher the productivity, the lower the cost of the output. A productivity ratio can be computed for a single operation, a department, an organization, or an entire country. In business organizations, productivity ratios are used for planning workforce requirements, scheduling equipment, financial analysis, and other important tasks. Productivity has important implications for business organizations and for entire nations. In nonprofit organizations, higher productivity means lower costs; for profit-based organizations, productivity is an important factor in determining how competitive a company is. In the case of a nation, the rate of productivity growth is of great importance. Productivity growth is the increase in productivity from one period to the next relative to the productivity in the preceding period. Service productivity is more problematic than manufacturing productivity. In many...
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...National Bureau of Economic Research, the start of this last recession was in the December of 2007 and ended in June of 2009 (The Greek, 2010). Many Economists point towards the failure of the banking system and an overload on bad loans that caused the financial meltdown, affecting the rest of the Economy. Whatever the cause of the recession, the effects are clear to see. Labor productivity in durable goods, non-durable goods, and retail have been negatively affected. This paper provides a look at the drop in productivity of the American worker. The statistics for this paper is mainly provided by the Federal Bureau of Labor Statistics (BLS). In this paper, and according to the BLS, labor productivity is measured by the output of goods and services produced per hour. Additional inputs from experts in each industry’s field will explain the direct causes of lower productivity. The baseline reference used in this paper comes from the BLS's change in labor productivity studies from the years 2006 to 2007, 2007 to 2008 and 2008 to 2009. The productivities of goods used in measuring labor productivity are wholesale trade goods and retail trade goods. Wholesale trade goods consist of durable and non-durable goods. Durable goods include such items as vehicles, vehicle parts, furniture, lumber, construction supplies, commercial equipment, metals and minerals, and other miscellaneous durable goods. Non-durable goods items include paper products, chemicals, farm products, petroleum...
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...Incentives and Productivity Karen N. Chavis BUS 642 Instructor: Ruizhen Hardin October 15, 2012 Incentives and Productivity Background and Introduction Over the past several years, I have been employed by two companies that specialize in healthcare revenue cycle management. My particular job function focuses on eligibility for benefits. On a small-scale level, I work with patients who are uninsured to determine what type of benefits they may be eligible for to pay their hospital bills. On a larger scale, my job helps generate revenue for the hospital at which I am stationed. It also helps reduce the hospital’s allowance for bad debt, which in turn makes the hospital look more profitable to the corporation who owns us as well as potential investors. Although I have performed the same job function for both companies, the methods of management and motivation employed by these companies have been drastically different. One difference that I found particularly interesting was the utilization of incentives as a motivational tool. Generally the term “incentive” refers to “outcomes of value that are provided to employees based on their levels of performance,” (Pritchard, 2004). The first eligibility organization that I was employed by did not offer incentives, but the company that I currently work for does. Every month that we generate revenue above our goal, a certain percentage of that revenue is returned to us in a bonus. This policy has led me to wonder if incentives...
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...Question: Discuss the trend productivity in all sectors in Malaysia. In Malaysia, basically there are four main sectors which is the services sector, the manufacturing sector, the agriculture sector, and the construction sector. The Malaysia’s labor productivity as measured by real added value per employee in 2014 improved by 3.5% at RM61,708 from RM59,622 in 2013. The growth in productivity was a contributing factor to the higher growth in Gross Domestic Product (GDP) at 6.0%. Trend Productivity in Services Sector Labor productivity within the services sector grew at 2.2% to RM63,897 per employee in 2014, compared with RM62,492 per employee in 2013. Most sub-sectors recorded higher productivity growth, although declines were recorded in accommodation and food and beverage service activities, information and communication (ICT), financial and insurance/takaful activities and real estate and business services. Despite its key role as the largest contributor to GDP in the Malaysian economy, the services sector has much to do before it can become the primary driver of future job creation and productivity growth. At the international level, the productivity of Malaysia’s services sector lags far behind other countries. Apart from that, one of the challenges facing Malaysia’s services sector is that it has failed to successfully diversify into export-oriented sub-sectors such as financial and ICT services. Trend Productivity in Manufacturing Sector As the country progresses towards...
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...Productivity measurement Productivity is a measure of output from a production process per unit of input. Productivity is a measure of the effective use of resources, usually expressed as the ratio of output to input. Productivity is the value of outputs produced (Goods & Services) divided y the value of input resources. It is the quantitative relationship between what we produced and the resources used. So in shortly we can say: Productivity = [pic] In general sense productivity is an economic measure of efficiency that summarizes the value of outputs relative to the value of inputs used to create them. In economic sense, productivity is a measure of production output per unit of production input. This refers, to the ratio of output and input in the production process. Importance of Productivity 1. Productivity is an important device for comparison of performance for various organizations. 2. Productivity increases the rate of low cost per unit and results in lower price. 3. Education, Research and Development, technology are positively correlated to productivity 4. reduction of poverty 5. It helps companies in measuring their strength and weakness. 6. it helps to know the contribution of different input factor used in conversion process 7. it is an indicator of how well the factors the production are utilized 8. it is an indicator of competitive position of an organization 9. it partially determines the peoples...
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...Productivity measurement Productivity is a measure of output from a production process per unit of input. Productivity is a measure of the effective use of resources, usually expressed as the ratio of output to input. Productivity is the value of outputs produced (Goods & Services) divided y the value of input resources. It is the quantitative relationship between what we produced and the resources used. So in shortly we can say: Productivity = In general sense productivity is an economic measure of efficiency that summarizes the value of outputs relative to the value of inputs used to create them. In economic sense, productivity is a measure of production output per unit of production input. This refers, to the ratio of output and input in the production process. Importance of Productivity 1. Productivity is an important device for comparison of performance for various organizations. 2. Productivity increases the rate of low cost per unit and results in lower price. 3. Education, Research and Development, technology are positively correlated to productivity 4. reduction of poverty 5. It helps companies in measuring their strength and weakness. 6. it helps to know the contribution of different input factor used in conversion process 7. it is an indicator of how well the factors the production are utilized 8. it is an indicator of competitive position of an organization 9. it partially determines the peoples standard of living within a particular...
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...Assessment of Productivity At Exotic Design Company Limited Presented by: In partial fulfillment of the course Bsc (Hons) Management University of Mauritius [pic] Faculty of Law and Management Submission date: March 2009 TABLE OF CONTENTS Page Numbers List of Tables v List of Figures vi Acknowledgement viii Declaration Form Dedication Abstract ix List of Abbreviations x Chapter One: Introduction 1.1 Introduction 1 1.2 Company Profile 1 1.3 Background of the Research 3 1.4 Problem Statement 4 1.5 Research Objectives 4 1.6 Research Questions 5 1.7 Aims of the Study 5 1.8 Significance of the Research 5 1.9 Phases of the Dissertation 6 1.10 Conclusion 7 Chapter Two: Literature Review 2.1 Introduction 8 2.2 Concept of Productivity 8 2.2.1 What is Productivity? 9 2.2.2 Importance of Productivity 11 2.2.3 Measurement of Productivity 11 2.3 Productivity Improvement 13 2.3.1 Productivity Improvement Factors 14 2.3.1.1 Internal Factors 15 2.3.1.1.1 Hard Factors 16 2.3.1.1.2 Soft Factors 17 2.4 Factors Affecting...
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...Group Assignment Topic: Productivity in Service Sector BRAC University BRAC Business School Spring 2016 Course: Production Operations Management (MSC301) Section: 001 Instructor: Md. Tamzidul Islam Assistant Professor, BRAC Business School Group Members Name ID Tasnia Jebin 12204103 Navid Anjum Khan 13104192 Rifat Shahrukh 13104047 Mohammad Muqtadir Ullah 13104061 Sadia Kamal 12204102 Atik Ilman Hossain 13104205 Date: April 4th, 2016 Question: What is Productivity? How do we measure productivity in a service environment such as restaurant? What are the factors that affect productivity? How does one can improve it? Answer: Introduction Goods and services are the products which have a demand in the market and generate enough revenue to make profit. Goods are tangible products which we can use, consume or otherwise have in our life. For example, cars, batteries, tables and everything which can be easily quantified by units of length, weight, volume. However, services are somewhat different products which are more intangible in nature. These products are usually ones which are rendered by human labor but also have some goods aspect to it. For example, A Hospital has syringes, medicines, MRI machines and lots of other goods. And they also have nurses and doctors who use these goods to give the patients (consumers) satisfaction as a total product package of both goods and services. One useful characterization...
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...(1)http://www.leanexpertise.com/TPMONLINE/articles_on_total_productive_maintenance/tpm/tpmroberts.htm TPM TOTAL PRODUCTIVE MAINTENANCE History and Basic Implementation Process by Jack Roberts, Ph.D. Jack_Roberts@TAMU-Commerce.edu Department of Industrial and Engineering Technology Texas A&M University-Commerce Abstract: Total Productive Maintenance (TPM) is a maintenance program which involves a newly defined concept for maintaining plants and equipment. The goal of the TPM program is to markedly increase production while, at the same time, increasing employee morale and job satisfaction. The TPM program closely resembles the popular Total Quality Management (TQM) program. Many of the same tools such as employee empowerment, benchmarking, documentation, etc. are used to implement and optimize TPM. This paper will define TPM in some detail, evaluate its strengths and weaknesses as a maintenance philosophy, and discuss implementation procedures. Examples of successfully implemented programs will be presented. I. What is Total Productive Maintenance? Total Productive Maintenance (TPM) is a maintenance program concept. Philosophically, TPM resembles Total Quality Management (TQM) in several aspects, such as (1)total commitment to the program by upper level management is required, (2) employees must be empowered to initiate corrective action, and (3) a long range outlook must be accepted as TPM may take a year or more to implement and is an on-going...
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...MSA University MGT320 Project Competitiveness & Productivity Company Name: Commercial International Bank ‘CIB’ Presented to: Instructor: Dr. Ghada Aly Assistant: Mohamed Salah Group: ‘A’ By: Amir Menesy ............................................. 094283 Sarah Mazen …......................................... 093081 Sherif Gabriel …......................................... 086119 Abstract Competitiveness and productivity will give any organization a benefit over it’s rivals in the industry. This research aims to show the importance of competitiveness and productivity and how to excel at making the most of them. It also explains the vague terms and ideas within these concepts to give a better understanding of them. New advancements and technologies and their consequences and outcomes, in addition to what industries employ these issues in the most effective and efficient way will be discussed. Labor productivity and its essentials are broken down into detail. Competitive concepts and how to make the best use of competition is very difficult. Introduction Productivity is a measure of output from a production process per unit of input. Productivity is designed for use in economic analysis and public and private policy planning. Production is a process of combining various material inputs and immaterial inputs in order to make something for consumption. The methods of combining the inputs of production...
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...Running Head: OVERALL PRODUCTIVITY OF THE ECONOMY Overall Productivity of the Australian Economy By Student’s Name Code+ course name Professor’s name University name City, State Date Introduction The best definition of productivity under the Australian and other contexts is, “the efficiency with which an economy employs resources to produce economic output” (D’arcy and Gustafsson, 2012, p. 23). It will remain that the most complete measure of productivity is the TFP (Total Factor Productivity), which accounts for all inputs involved in production. Normally, “the inputs are classified into capital (K), labour (L), energy (E), materials (M) and services (S)” (O'Mahony and Timmer, 2009, p. 538); the lead letters of each input are why this is called the KLEMS approach. Principally, the measures of inputs and outputs can be incorporated adjustments for quality change. Nonetheless, KLEMS approach is arduous in terms of data and that is the reason why very few countries in the world utilize this approach (Hannula, 2012). The MFP (multifactor productivity) approaches are easily implementable. The MFP approach accounts for merely two inputs, namely labour and capital. Presently, the most comprehensive measure of productivity available in Australia is MFP. Principally, labour input in the MFP ought to be adjusted for enhancements in the human capital (the quality of labour), yet as earlier hinted, this is not done in Australia at present, similar...
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...Employee productivity and job Satisfaction Research Project MSA 699 Sabrina Foster Central Michigan University Table of Contents Pages Number List of Tables List of Figures Chapter 1 Problem Definition 3 Chapter 2 Literature Review 6 Chapter 3 Research methodology 11 References 15 Appendix A Survey instructions 17 Survey/Interview Questions Chapter 1 Problem Definition Background Express is a fashion forward retail store with multiple locations worldwide. A unique fashion powerhouse selling both men and women clothing with over 30 years experience. (Express.com, 2014) “Express is not about a single point in time, but rather a spirit energy, and a belief that we can and will be the best retail fashion brand in the world” says Chairman and CEO Michael Weiss. (Express.com, 2014) Express associated with Limited brands, which are responsible for stores such as Bath and body works, Victoria’s Secret and The Limited. (Express.com, 2014) Leaving them with a rich brand history of success. The company has values they follow which have contributed to its success. These values are; do the right thing and do things right, begin and end with our customer in mind, passion with a purpose and performance matters. (Express.com, 2014) Employees working at Express are exceptional at creating a shopping experience similar to dining at a five star restaurant. From...
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...Abstract Information Technology has become a significant component of new capital investment (some estimate put it at 30%) and several economists look to computers as the best hope for a sustainable increase in economic growth rates. Thus the question arises, can computers and the usage of information technology help attain the break-even earlier resulting in more and more profits? Thomas K. Landauer, in his book, The Trouble with Computers (MIT Press, 1995), argues that computers have been unproductive due to poor design and deployment. To support this thesis, Landauer Drwasn on economic data and analysis as reported by other researchers, and offers voluminous anecdotal evidence of computer shortcomings. He then proceeds to offer his own solution to this problem and provides an argument that computers can be improved in ways that would make them more useful, usable and productive. Introduction In India, Information Technology has built up a valuable brand equity over a decade. It is estimated that IT sector in the country has been growing at a rapid rate of over 35% per year. The contribution of IT has not been only limited to Banking, ITES and BPO sector, but also to the ever-growing Manufacturing sector. IT today provides the communication and analytical power to the organization to conduct business and compete at the global level. In the broadest sense, information technology refers to both the hardware and software that are used to store, retrieve, and manipulate information...
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...SOLUTION TO CASE STUDIES CASE: 1 “NATIONAL AIR EXPRESS” CASE: 2 “MINIT-LUBE, INC.” CHAPTER # 1 “OPERATIONS AND PRDUCTIVITY” CASE STUDY NATIONAL AIR EXPRESS 1. Is the productivity measure of shipments per truck still useful? Are there alternatives that might be effective? Answer: Productivity of company can be measured by the number of stops covered by each driver. This way the amount of services can be measured on every day basis and with the area covered by each driver. So the company can tell how much area has been covered by a driver in one day. This way productivity can be assessed in a measurable way. It can be formulized as: Productivity= NoSDrv Where, NoS = Number of Stops Drv = Driver 2. What if anything, can be done to reduce the daily variability in pickup call-ins? Can the driver be expected to be the several locations at once at five pm? Answer: This can be done by load balancing over the specified time duration. By load balancing I mean that we divide the crowded hours to reduce the pressure on peak time. Usually most of the telecommunication companies offer promotions at the night time when the network is not crowded so people only for important calls can use and benefit from the network and it does not affect the businesses by doing so. Problem shows that most of the calls are around 5 p.m. so the promotional strategy can be applied to reduce the load. 3. How should package pick up performance be measured are standards useful...
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...Boosting Employee Moral and Productivity in the Workplace Temisha Walston-Harding Bryant and Stratton College ENGL 305 Research and Writing III December 10, 2011 Professor K. Nelson TABLE OF CONTENTS PAGES INTRODUCTION 3 Professional and Personal Development 5 A SENSE OF BELONGING 6 RECOGNITION AND APPRECIATION……………………………………………. 7 CONCLUSION…………………………………………………………………………. 9 SAMPLE SURVEY QUESTIONS……………………………………………………. 10 REFERENCES………………………………………………………………………… 12 Boosting Employee Morale and Productivity in the Workplace Introduction For many, going to work is not just a job but an adventure. Productivity and morale in the work place is just not what it used to be. The current climate of the world’s economic condition has made work life a problematic situation for many. Through the use of surveys and interviews, I have found three areas of concern that should be addressed in order to modify the turbulent climate in the work place. 1. Professional and personal development. Many industries have a poor track record of nurturing employee development beyond the duties of what they are employed for. A large opportunity to develop exists by mentoring, coaching and offering continuing education incentives to employees. 2. A sense of belonging. One of the recurring themes in the surveys taken showed that far...
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