This question contains two parts; be sure to answer both. First, define productivity and explain why increasing productivity is important. Second, imagine that you are the manager of a large chain grocery store. Suggest at least three ways that you might improve productivity at the store.
What will be an ideal response?
Productivity is the ratio of outputs to inputs, or (goods + services)/(labor + capital + materials + energy). It is important to companies because it determines their profitability and survival. It is important to the nation because the higher productivity is, the more available goods and services are to us, and the higher our standard of living. Based on the definition, managers can raise productivity by making substitutions or by increasing the efficiency of any resource (labor, capital, materials, or energy).
Managers can also do the following to improve productivity:
Harnessing information technology and/or implement enterprise resource planning software systems.
Providing a positive work environment.
Creating a company culture that promotes employee engagement, satisfaction, and flourishing.
Investing in the resources needed to increase productivity.
Reducing distractions and helping employees focus on completing tasks.
Students should also provide three examples of ways to improve productivity at the grocery store.
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