Operations Management MGT 203 MANAGING EFFICIENCY AND PRODUCTIVITY Week 11 Dr Pieris Chourides Productivity • A measure of performance. • Broadly a ratio of output to input, i.e. comparing amount produced (output) with resources used (input) • Materials, machinery, labour, capital, energy --- a combination • What improvements have there been over the last 50 years in – construction productivity – payroll processing – Car servicing – banking • How do we evaluate productivity
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labeled planning, organizing, leading, and controlling. (POLCA) EFFICIENCY AND EFFECTIVENESS Efficiency refers to getting the most output from the least amount of inputs. Effectiveness is described as "doing the right things" Efficiency (Means) Resource Usage Low Waste Effectiveness (Ends) Goal Attainment High Attainment Management Strives for ; Low Resource Waste (high efficiency) High Goal Attainment (high effectiveness) WHAT DO MANAGER DO? What managers do in terms of functions and
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the efficiency and effectiveness of Amazon’s website? Efficiency: Amazon uses following metrics for its efficiency. Throughput: amazon introduces new techniques and brings infront of the customers in a given time and according to time Transaction speed: the website speed is so fast that all transactions of the customers are done quickly. Availability: amazon provides everything for the customers so that it is available for everyone and everything is available in its website. Effectiveness: amazon
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Organizational Behavior * Organizational Behavior * A field of study that investigates the impact that individuals, groups, and structure have on behavior within organizations * The aim is to apply such knowledge toward improving organizational effectiveness * Organization * A consciously coordinated social unit that: * Composed of a group of people * Functioning on a relatively continuous basis * To achieve a common goal or set of goals Organizations are made up of 3 levels
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E- Market Orientation as a result of Integrating electronic marketing with market orientation concept Morteza Mashayekhi and Amir Ekhlassi Abstract The aim of this paper is to show the relationship between electronic marketing and market orientation. This paper intends to integrate these concepts and draw a framework for e-market orientation as a new paradigm in business. So it is necessary to introduce both e-marketing and market orientation and review the literature related to
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any context? Introduction to Management Divyansh Narang 14PGIM12 Term 0 21 July, 2014 Management Management is the process that plans, drives, controls and oversees all activities to achieve desired results while maximizing effectiveness and efficiency. Management is inherent in every phase of day to day life. It is important, useful and omnipresent. Every activity that an individual or an organization does, it does to achieve some objective. Management is the process that makes sure
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Business Driven Information Systems 2e CHAPTER 1 INFORMATION SYSTEMS IN BUSINESS McGraw-Hill/Irwin ©2009 The McGraw-Hill Companies, All Rights Reserved 1-2 Chapter One Overview • SECTION 1.1 – INFORMATION SYSTEMS IN BUSINESS – Information Technology’s Role in Business – Information Technology Basics – Roles and Responsibilities in Information Technology – Measuring Information Technology’s Success • SECTION 1.2 – BUSINESS STRATEGY – Identifying Competitive Advantages – The Five Forces
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audit, communication and approval, following the recommendations, deferring to the code of ethics and how to achieve the objectives. The listed indicators, are components of the proposed management methods and tools, and they define efficency, effectiveness, economy and quality, all elements of the internal audit performance. Keywords: methods and techniques, audit, corporate governance, internal control system, performance indicators, Balanced Scorecard, Dashboard. JEL: M 42 1. INTRODUCTION
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1. Contrast efficiency and effectiveness. Give an example of a time when an organization was effective but not efficient, efficient but not effective, both efficient and effective, and neither efficient not effective. There are differences between efficiency and effectiveness. First efficiency means using the resources wisely and also in such a way that is cost effective, on the other hand, effectiveness is about making the right decision and also successfully implementing them. 2. What
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oligopoly is then seen as a source of inefficiency, creating a market failure and a deadweight welfare loss to society. This is illustrated in the diagram. An Diagram Collusive oligopoly may reduce efficiency I Making oligopolistic markets more contestable has the potential to improve the efficiency of the market. An This is because removing entry barriers allows the threat of potential new competition to act as a discipline on the conduct of incumbent firms. Incumbents are less likely to collude
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