Question

name the concept of management where with fewer resources higher level of output can be achieved

Answer 1

Productivity is an overall measure of the ability to produce a good or service. More specifically, productivity is the measure of how specified resources are managed to accomplish timely objectives as stated in terms of quantity and quality. Productivity may also be defined as an index that measures output (goods and services) relative to the input (labor, materials, energy, etc., used to produce the output). As such, it can be expressed as: 

Hence, there are two major ways to increase productivity: increase the numerator (output) or decrease the denominator (input). Of course, a similar effect would be seen if both input and output increased, but output increased faster than input; or if input and output decreased, but input decreased faster than output.

Answer 2

Management is very precious post for anyone, because many decisions have to be made by the managers, on behalf of the company in such a way, that the company would achieve its optimum productivity level, without increasing the resources, rather reducing the use of resources, for obtaining equal or more production is desired.

The main aim of a manager job is to, enhance the efficiency in a daily basis of the company, which in turn leads to more profitability of the company. For this reason managers are respected far more than any other employees.