various stages involved in satisfying a customer’s need

May 29th, 2015
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Abilene Christian University
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“Productivity is an attitude of mind. It is the mentality of progress, of the constant improvements of that which exists. It is the certainty of being able to do better today than yesterday and continuously. It is the constant adaptation of economic and social life to changing conditions. It is the continual effort to apply new techniques and methods. It is the faith in human progress.”

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CONCEPTProductivity is the quantitative relation between what we produce and what we use as a resource to produce them, i.e., arithmetic ratio of amount produced (output) to the amount of resources input. Productivity can be expressed as:Productivity = Output / InputProductivity refers to the efficiency of the production system. It is the concept that guides the management of production system. It is an indicator of how well the factors of production (Land, Capital, labour and energy) are utilised.European Productivity Agency (EPA) has defined productivity as, Productivity is an attitude of mind. It is the mentality of progress, of the constant improvements of that which exists. It is the certainty of being able to do better today than yesterday and continuously. It is the constant adaptation of economic and social life to changing conditions. It is the continual effort to apply new techniques and methods. It is the faith in human progress. A major problem with productivity is that it means many things to many people. Economists determine it from Gross National Product (GNP), Managers view it as cost cutting and speed up, engineers think of .it in terms of more output per hour. But generally accepted meaning is that it is the relationship between goods and services produced and the resources employed in their production. Productivity as Viewed by Different PeopleECONOMISTSACCOUNTANTS BEHAVIOURAL SCIENTISTS ENGINEERSRatio of output to input (part

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