Lesson 2, 4th Quarter: Productivity Flashcards
What are the 9 Proven Success Factors by Bryan Tracy?
EDUCATION
SKILL
CONTACTS
MONEY
GOOD WORK HABITS
POSITIVE MENTAL ATTITUDE
POSITIVE IMAGE
CREATIVITY
CHARACTER
What is the difference between Goods and Services?
Goods are Tangible materials while Services are Intangible materials.
Input; ____
Materials
___; Transformation phase
Process
Output; ___
To be sold
What are the different factors of production?
Land
Labor
Capital
Entrepreneurship
It is the effort humans contribute to the production.
Labor
It includes the machinery, tools, and minings.
Capital
They are what we need to combine to other features of production
Entrepreneurs
What are the different characteristics of an Entrepreneur
Motivated
Passion
Vision
Confident
Decision making
What is Productivity?
Effectiveness of productive effort especially in the industry as measured in terms of the rate of output per unit of input.
What is the formula for Labor Productivity?
Labor Productivity = Output/ Input
