Question

Essay on productivity​

Answer 1

Answer:

Mark me as brainliest

Explanation:

Productivity’ is nothing but the reduction in wastage of resources. The resources may be men, machines, materials, power, space, time, building etc.

It may also be defined as human efforts to produce more and more with less and less inputs of resources as a result of which the benefits of production may be distributed more equally among maximum number of people.

According to V.K.R. Menon, productivity implies development of an attitude of mind and constant urge to find better, cheaper, easier, quicker and safer means of doing a job, manufacturing a product and providing service.

Output is obtained by the combined input of a number of factors such as men, materials, money, land, management, production method etc. The ratio between output and input of one of these factors is known as ‘Productivity’ of the factor concerned. The most common unit of input is Man-Hour of working time and ‘productivity’ due to this factor is known as ‘Labour productivity’.

The term productivity means different things to different people, and is stated as a ratio. It is defined as “a comparison between the quantity of goods and services produced (Output) and the quantity of resources used to produce these goods and services (Inputs)”.

Productivity is primarily an attitude of mind, welcoming a change for the better, exploring the scope for im­provement, making the optimum use of available resources towards the achievement of a speci­fied aim.

It can be represented by P = O/M

where P = Labour Productivity, O = Unit of output, and M = Man-hour or efforts input

For example, if a manufacturing concern is producing 150 items in 8 hours now compared with 120 items previously. Then its productivity is said to have increased by 25%.

Therefore, productivity can also be defined as, the ratio between output and input. Here output means the amount of production, and inputs are the various resources employed e.g., labour, machines, materials, equipment, land, building etc.

From the above we can say that productivity is an efficiency of the production system which is expressed by the ratio between the output and input. Productivity can also be called as a measure of how much input is required to produce a given output.

Productivity can also be defined as human efforts to produce more and more with less and less inputs of resources as a result of which the benefits of production are distributed among maximum number of people.