Productivity Concept
Productivity is an efficiency indicator of an organization or a country used a lot in economical and financial analysis and in international comparisons. It’s calculated by the comparison between the output quantity or value and the input quantity or value needed for the production of such output.
Despite being used to measure efficiency in the use of any input, productivity concept is more frequently used to measure the efficiency in the use of work factor. In this case, productivity is calculated by the division of the produced quantity by the number of hours (or by the number of employees) needed to achieve that production.
Productivity = Production / Work
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