23.2 Efficiency, effectiveness, productivity and sustainability Flashcards
1
Q
Productivity
A
The ratio of outputs to inputs during production (e.g. output per worker per time period)
2
Q
Level of production
A
The number of units produced during a time period.
3
Q
Production
A
The process that transforms input into output.
4
Q
Efficiency
A
Producing output at the highest ratio of input to output.
5
Q
Effectiveness
A
Meeting the objectives of the business by using outputs productively to meet customers’ needs.
6
Q
Sustainability of operations
A
Business operations that can be maintained in the long term, for example, by protecting the environment, and not demaging the quality of life for future generations.
