...PRODUCTIVITY IN THE NIGERIAN MANUFACTURING INDUSTRY BY C. M. ANYANWU ASSISTANT DIRECTOR, RESEARCH DEPARTMENT, CENTRAL BANK OF NIGERIA. INTRODUCTION Prolonged economic recession occasioned by the collapse of the world oil market from the early 1980 and the attendant sharp fall in foreign exchange earnings have adversely affected economic growth and development in Nigeria. Other problems of the economy include excessive dependence on imports for both consumption and capital goods, dysfunctional social and economic infrastructure, unprecedented fall in capacity utilization rate in industry and neglect of the agricultural sector, among others. These have resulted in fallen incomes and devalued standards of living amongst Nigerians. Although the structural adjustment programme (SAP) was introduced in 1986 to address these problems, no notable improvement has taken place. From a middle income nation in the 1970s and early 1980s, Nigeria is today among the 30 poorest nations in the world. Puttingthecountrybackonthepathofrecoveryandgrowthwillrequireurgently rebuilding deteriorated infrastructure and making more goods and services available to the citizenry at affordable prices. This would imply a quantum leap in output of goods and services. The path to economic recovery and growth may require increasing production inputs - land, labour, capital and technology - and or increasing their productivity. Increasing productivity should be the focus because many other countries that have...
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...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 of services is those...
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...INTRODUCTION: CASE BACKGROUND & ISSUES CUP Corporation was one of the largest insurance firms based in Europe. It had a worldwide operation and was recently acquired by another major insurance company. The firm had made a series of acquisitions to broaden the types of insurance offerings and expanding the market needs. It sold a various forms of insurance in the health, life, casualty, property and automotive areas. Customer segments of the firm’s services are divided into two groups of agents and brokers as well as end-customers. Over the last couple of years, the growth of premium income in German industry is somewhat instable. The declining growth rates had affected German insurance industry due to some reinforcing trends: 1) Worse economic climate such as increasing economic downsizing, increasing unemployment and fluctuations in real income. 2) Higher taxes and social welfare levies. 3) Increasing competition resulting from the deregulation of the European market. 4) Extensive satisfaction of the demand for insurance in German. CUP Corporation had enjoyed remarkable growth despite economic downturns. However, the increasing competition and increasing client price sensitivity in the private insurance market has led to the shorter contracts and more cancellation of existing contracts among customers that is varied by the intensity of the products. Particularly, CUP Corporation is facing some problems regarding to the customer loyalty as...
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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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...usually within their own sector. It is also a process of identifying other organizations that are best at some facet of our operations and then modeling our organization after them (Operations Management, 9/e, Jay Heizer & Barry Render). It selects a demonstrated standard of performance that represents the very best performance for a process or activity. Benchmarking is `the continuous process of measuring products, services and practices against the toughest competitors or those companies recognized as industry leaders, (that is) ... the search for industry best practices that will lead to superior performance (Camp, 1989, 10). According to these definitions benchmarking helps organizations increase their performance. They compare and measure their policies, practices, philosophies, and performance measures against those of high-performing organizations. Benchmarking could be a onetime event but rather a continuous process in which organizations continually seek to challenge their practices. It is a continuous, systematic process of measuring products, services and practices against organizations regarded to be superior with the aim of rectifying any performance ``gaps’’ because of the existence of strong dynamics in the current business world. The aim of benchmarking is to identify competitive targets which render the weak points of the benchmarking organization visible and to establish means of improvement. In other words, it is not to find out ``by how much others...
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...62: 777–95. * Aragón-Sánchez, A., Barba-Aragon, I., & Sanz-Valle, R. 2003. Effects of Training on Business results. International Journal of Human Resource Management, 14: 956-980. * Armstrong, M. and Baron, A. (1998) Performance Management: The New Realities. London: Institute of Personnel and Development. * Arthur, W. A., Jr.,Bennett, W., Jr., Edens, P. S., & Bell, S. T. 2003. Effectiveness of Training in Organizations: A Meta-Analysis of Design and Evaluation Features. Journal of Applied Psychology, 88: 234-245. * Bartel, A. P. 1994. Productivity Gains from the Implementation of Employee Training Programs. Industrial Relations, 33: 411–425. * Beer, M., Spector, B., Lawrence, P. R., Mills, D.Q., Walton, R. E. (1984), A Conceptual View of HRM. in Managing Human Assets. Free Press, New York Chap.2 * Bernolak, I. (1997), Effective Measurement and Successful Elements of Company Productivity: The Basis of Competitiveness and World Prosperity, International Journal of Production Economics, 52, 1 - 2, pp. 203-213. * Bishop, J. 1991. On-the-job Training of New Hires, in Market Failure in Training? ed. David Stern and Jozef M. M. Ritzen, New York: Springer-Verlag, pp. 61–98. * Borman, WC (1991) Job Behavior, Performance, and Effectiveness, In M. D. Dunnette & L. M. Hough (Eds.), Handbook of Industrial and Organizational Psychology (2nd ed., Vol. 2, pp. 271-326), Palo Alto, CA, Consulting Psychologists Press * Brewster, C., & Bournois...
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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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...airline business. Designed as a multiple case study by collecting data from primary and secondary sources, the participants of this study are scheduled airline businesses operating in Turkey. The airline companies have been found to use similar performance indicators within the financial, customer-based, internal business process, and learning/growth perspectives of BSC. Airline companies are recommended to use BSC because it allows them to transform their strategies into measurable performance indicators and to assess their performance multi-dimensionally. Keywords: Strategic Management, Performance Management, Balanced Scorecard, Airline Industry, Performance Indicators 109 www.macrothink.org/jmr Journal of Management Research ISSN 1941-899X 2014, Vol. 6, No. 4 1. Introduction Airline businesses operate in an industry that employs a large number of personnel and which requires huge amounts of...
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...expose student to real world problem situations before the end of graduation. From this program, students are given the opportunity to practice and apply their understanding and theoretical knowledge that have been learned in classroom with the help and guidance from the university and the attached organization. It is a platform of training and preparing the student before entering the job market. Practicum program is compulsory for all students pursuing Bachelor of Business Mathematics with Honors in UUM. This program can also be seen as a method to integrate the theoretical knowledge with the hands-on training. In this way, students would have an opportunity to apply their understanding of theories into the real working environment within industries. Practicum program provides opportunities for students to improve two vital skills which are soft kills and hard skills. It aims to help student to apply these two skills in interpersonal relationship with employees from various ages and skill levels. At the end of this program, students are expected to have a strong individual personality with a variety of technical and soft skills and able to present themselves as a dynamic role model in family, community and country. 1.1.1 PRACTICUM OBJECTIVES After practical training, students will be able to:...
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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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...23rd, 2015 Table of Content I . Introduction……………………………………………………………………………3 II. The balanced scorecard………………………………………………………………..3 III. Financial perspective…………………………………………………………………3 a) Market share……………………………………………………………………...4 b) Revenues and costs……………………………………………………………….4 c) Profitability……………………………………………………………………….4 IV. Customer value perspective…………………………………………………………..5 a) Customer retention or turnover…………………………………………………...5 b) Customer satisfaction……………………………………………………………..5 c) Customer value…………………………………………………………………...5 V. Internal operations perspective………………………………………………………..6 a) Measure of process performance…………………………………………………..6 b) Productivity or productivity improvement………………………………………...6 c) Operations metrics…………………………………………………………………6 VI. Research and development perspective………………………………………………6 a) Employee turnover or retention…………………………………………………..6 b) Nature of organizational culture or climate………………………………………6 c) Level of organizational capability………………………………………………..7 VII. Conclusion…………………………………………………………………………..7 Appendix A: Financial perspective………………………………………………………8 Appendix B: Customer value perspective………………………………………………..9 Appendix C: Internal operations perspective……………………………………………10 Appendix D: Research and development perspective…………………………………...11 References………………………………………………………………………………..12 Business Model and Strategic Plan Part III: Balanced...
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...Lecturer: Lynn Richardson Tutor: Ajay Khatter The development of hospitality industry has been putting more pressure on hotel and resort managers. They not only satisfy their customers’ service expectation but also please their hotel owners wants with limited budgets. Although the “balanced scorecard” has been applied recently, it seems to be hard for the managers to adjust the balancing between these desires of two important elements in hotel and resort processes. This essay will analyze these expectations, the application of balanced scorecard in the hotel and resort industry and exam whether it is helpful to solve to conflict between owner and manager or not. In the competitive environment, understanding what customer expect and want is the most significant step to have a good service. According to Parasuraman (1988) and Richard (1997), customer expectations are reflected the service quality and customer satisfaction. However, hotel guests do not use only unique expectation; they may adopt many types of desires to judge hotel service. Predictive expectation- prediction what level of service that the customer will receive and normative expectations – what service that the guest believe that the provider will offer to them, are the most prevalent types being used to evaluate (Tam, M 2005). Moreover, location, furniture, price, hotel category, special endows for loyal customers as well as promised services also impact on customer expectation (Suzana, M 2013). As a manager, they need...
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...managing any type of information within the organization through the use of effective technologies that varies according to the industry. Managing information helps the company to develop and improve the decision making process. The information management system provides valuable material to the users in order to update the database efficiently providing a current an accurate status of the business. It is also helpful to offer diverse e-business options that may increase the information effectiveness in the company. The decision support system is also crucial to enhance the effectiveness of the organization in this technological development business environment. By using an information management system employees are able to obtain data, analyze it and send the information to the respective people within the organization in an effective manner. The information management system is an effective tool to establish any procedure and regulate all the activities or processes that occurred in the company. The management of ABC Complete Kitchens also requires an information management system (IMS) to develop it technical system and enhance its effectiveness in the new market since this system supports liability and traceability and involves the customers and suppliers in the process. Including suppliers would increase the quality of its product and services while involving customers would enhance the problem solving activities efficiency. The ABC Complete Kitchens Inc. system...
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...and identify tactics that make the company successful. Competitive Advantage An organization that has a strategic advantage over its competitors that enables the organization to have greater sales and retain more customers is believed to have a competitive advantage. Many organizations have a competitive advantage within technological industries to include: Google, Apple, and Amazon. Each organization creates value in its products and services to stay ahead of the competition. Google is considered the industry leader when it comes to search and has 65% of the search market, according to Hit Wise. The company maintains its competitive advantage by developing a diversified infrastructure that gives them the ability to provide high-speed searches and branch out into other industries. Goggles infrastructure is made up of hardware, bandwidth, storage systems and servers. The company has access to all kinds of information about the organization from all over the world and can easily track the competitions movements. Google has developed a brand and tools that customers have learned to depend on. Google has expanded into the mobile phone industry with the Android, which provides customers an...
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