What Is Productivity? Definition Meaning

Definition of Productivity

The definition of productivity according to blogspot.com//search?q=what-is-management-definitions-meaning">management skillful Peter Drucker.

“Productivity agency the residue betwixt all blogspot.com//search?q=what-is-management-definitions-meaning">factors of production that volition laissez passer the greatest output for the smallest effort.”

Productivity is expressed or measured equally a mathematical segmentation of 2 of import parameters (functions) viz., output together with input.

The concept of productivity is depicted inward the next illustration.

Image credits © Prof. Mudit Katyani.

Meaning of Productivity

Productivity is a human relationship betwixt output together with input. It is expressed or measured equally a ratio of output together with input. In other words, it equals output divided past times input.

Some examples of productivity touchstone are equally follows:

1. Productivity of a manufacturing unit of measurement tin last measured inward price of the release of goods produced inward simply about fixed sum of fourth dimension (usually inward hours).
2. Generally, productivity of a service blogspot.com//search?q=what-is-management-definitions-meaning">industry is measured inward price of income generated past times an employee inside an blogspot.com//search?q=what-is-management-definitions-meaning">organization.

Nowadays, organizations laissez passer to a greater extent than importance to productivity together with less importance to efficiency.

The 3 primary indicators of blogspot.com//search?q=what-is-management-definitions-meaning">higher productivity are equally follows:

1. Best utilization of the available human together with cloth resources.
2. Minimum wastage together with losses of materials.
3. Quantitative together with qualitative blogspot.com//search?q=what-is-management-definitions-meaning">production of goods at lower cost.