Productivity
The effectiveness of productive effort, especially in industry, as measured in terms of the rate of output per unit of input.
Business Glossary provided by Plannit.ai
Productivity in a business context measures the efficiency of production. It is calculated by dividing the total output of goods and services by the total input of resources such as labor and capital. Enhancing productivity is a key objective for businesses as it can lead to higher profitability and competitive advantage.
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