industrial productivity definition
Barnes explained that in a broad sense, productivity is the ratio of output to some or all of the resources used to produce the output. Labor productivity may be defined as output per labor hour.. Capital productivity as output per unit capital input. All inputs contribute to the toal productivity of the firm. The focus in motion and time study is productivity of labor, machines, equipment, and facilities.
Business Productivity is the ability of an organization to utilize its available resources in order to produce profitable goods or services as desired by customers or clients. It is the productivity that measures the performance of an organization, and it can also be used for companies themselves in order to assess their own progress.