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Level 2 Productivity & Efficiency Flashcards | StudBud

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What is productivity?

The following formula measures the...

Level 2 Productivity & Efficiency

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Questions 6

Answers

1
The following formula measures the...
how the business can increase productivity
the productivity rate
benefits of productivity
Outputs over inputs
2
What is productivity?
Output measured against input (usually labour or capital)
how efficient a company is
What you put in is what you get out
the labour and capital of a business
3
How can businesses improve productivity?
By hiring new and more experienced staff
By removing management
updating machinery, better management and staff motivation
By making sure that all staff are dressed accordingly
4
The greater the business' productivity rate...
the more profitable a business is
the less likely it will become bankrupt
The more motivated the staff are
the greater its efficiency based on output to input ratio is
5
What can a manager do to further improve productivity?
reduce staff #s, reduce waste, have quality management
Maximise profits by hiring trained professionals
Stop spending unnecessary money
Reduce staff wages to reduce total costs
6
What is production?
The amount of goods and services produced in a given time
The measured output of a business over a period of time
The full capacity of an organisation
All of the answers are right