Search results
- Dictionaryproductivity/ˌprɒdʌkˈtɪvɪti/
noun
- 1. the state or quality of being productive: "the long-term productivity of land"
Powered by Oxford Dictionaries
Productivity is the rate at which a person, company, or country does useful work, usually judged in relation to the number of people and the time necessary to produce goods or services. Learn more about productivity from different perspectives, such as economics, production, and agriculture, with examples and collocations.
- English (US)
PRODUCTIVITY meaning: 1. the rate at which a company or...
- English (US)
- What Is Productivity?
- Understanding Productivity
- 4 Types of Productivity Measures
- Productivity and Investment
- How to Calculate Productivity
- Real-World Example
- The Bottom Line
- GeneratedCaptionsTabForHeroSec
Productivity is a measure of performance that compares the output of a product with the input, or resources, required to produce it. The input may be labor, equipment, or money. The U.S. government focuses on labor productivity. Economic productivity is calculated as a ratio of gross domestic product(GDP) to hours worked. Labor productivity is anal...
Economists see productivity as the key source of economic growthand competitiveness, whether it is being measured in a business, an industry, or a nation. A country’s ability to improve its standard of living depends on its ability to raise its output per worker. This does not necessarily mean that every worker works harder. It means that some comb...
Labor Productivity
The most commonly reported productivity measure is labor productivity published by the Bureau of Labor Statistics. This is based on the ratio of GDP to total hours worked in the economy. Labor productivity growth comes from increases in the amount of capital available to each worker (called capital deepening), the education and experience of the workforce (labor composition), and improvements in technology (multi-factor productivity growth). However, productivity is not necessarily a reliable...
Total Factor Productivity
Many factors impact a country’s productivity. Investment in plant and equipment, innovation, improvements in supply chain logistics, education, enterprise, and competition all effect productivity. The Solow residual, which is usually referred to as total factor productivity, measures the portion of an economy’s output growth that cannot be attributed to the accumulation of capital and labor. It is interpreted as the contribution to economic growth made by managerial, technological, strategic,...
Capital Productivity
Capital as a productivity measurelooks at how efficiently physical capital is being used to create goods or services. Physical capital includes tangible items such as office equipment, labor materials, warehouse supplies, and transportation equipment. Capital productivity is calculated by subtracting liabilities from physical capital. You then divide the sales number by the difference. A higher capital productivity number shows that physical capital is being used efficiently in the creation o...
When productivity fails to grow significantly, gains in wages, corporate profits, and living standards are limited. Investment in an economy is equal to the level of savings because investments are financed from savings. Low savings rates can lead to lower investment rates and lower growth rates for labor productivity and real wages. When savings r...
The calculation for productivity is straightforward: divide the outputs of a company by the inputs used to produce that output. The most regularly used input is labor hours, while the output can be measured in units produced or sales. For instance, if a factory produced 10,000 widgets last month while being billed for 5,000 hours for labor, product...
Auto manufacturing giant Toyota offers a prime example of high-end productivity in real life. The company had very humble beginnings but has grown to become one of the largest and most productive car manufacturers in the world. Its Toyota Production System (TPS) is one of the main reasons for that. TPS includes a few of the following principles: 1....
The concept of productivity is simple: at a given level of input, there is a given level of output. More productive societies and processes will yield more output at the same level of input. Whether it is viewed from an economic standpoint, a company standpoint, or a personal standpoint, being able to measure and track productivity is crucial to lo...
Productivity is a measure of performance that compares the output of a product with the input, or resources, required to produce it. Learn how productivity is calculated, measured, and analyzed in different sectors and contexts, and why it is important for economic growth and competitiveness.
- Will Kenton
- 1 min
Learn the meaning of productivity as the quality or state of being productive, and the rate of production of food by producers. See examples, synonyms, word history, and related phrases of productivity.
Productivity is the efficiency of production of goods or services expressed by some measure. Measurements of productivity are often expressed as a ratio of an aggregate output to a single input or an aggregate input used in a production process, i.e. output per unit of input, typically over a specific period of time. [1] .
May 17, 2024 · Productivity is a measure of output relative to input, such as labor or capital. It is crucial for economic growth, standards of living, and meeting global challenges. Learn how productivity is calculated, measured, and enhanced with examples and insights.
Productivity definition: the quality, state, or fact of being able to generate, create, enhance, or bring forth goods and services. See examples of PRODUCTIVITY used in a sentence.
May 22, 2023 · Learn what productivity means in economics, business, and project management, and how to measure it with different methods and formulas. Find out the benefits of productivity for individuals, businesses, and society.
