productivity Flashcards
1
Q
What is productivity?
A
The value of a particular product compared to the amount of labor needed to make it.
2
Q
Ways of measuring productivity
A
Capital productivity
Labour productivity
Capacity utilisation
3
Q
Ways productivity can be increased
A
- Be efficient
- Delegate
- Reduce distractions
- Increase pay for productive staff
- Promote competent managers
4
Q
What is capacity utilisation
A
The percentage of possible production level that is currently being used
5
Q
Calculate: Capacity Utilization
A
(Actual factory output)/ (Factory design capacity)
