Total factor productivity

In today’s world most organisations have to compete in a complex and turbulent environment, therefore, an accurate understanding of their goals and the methods for attaining those goals and for that matter how these organisation create value for their shareholders cannot be overemphasized. The balance score card provides business managers with the instruments they need to navigate to future competitive success (Kaplan & Norton, 1996). The score card provides a system for measuring and managing…

QUESTION 1(a) The general rule of profit maximization is that a firm produces up to the point where marginal revenue equals marginal cost. Marginal revenue can be simply defined as the change in total revenues as a result of an increase of one unit. Similarly Marginal cost on the other hand is the change in total cost as a result of an increase in one unit of production. As such maximize profits, as is the aim of all profit making businesses, is to produce and sell units provided the revenue…

Labor being a high percentage of total cost of the health care system, effort to change the cost structure could make better opportunities for staff productivity. Results from the survey shows that more people will decrease the staff members and services, while only few will not decrease the cost of the services. Survey shows that the healthcare…

include the competitive position and flexibility, organizational restructuring and downsizing, self-management, development of appropriate organizational culture, etc. If the employees of an organization are effectively used in combination with another factor of production, they are eliminated environmental opportunities and risks. The competitive position of the organization can be influenced by personnel policy in the following way. Cost…

all over are updating their status, cheeking up on family members, and even having group game play. Although this might seem like all this interaction is great, it has lead to many downfalls since social media was first introduced. The levels of productivity are on a downwards fall, the spread of of false information has people all over the word thinking different things about the same situation, and also stops our social iterations. The constant…

retention potential associated with increased clay percentages within topsoil can increase shoot productivity, as the presence of readily available nutrients and water allows B. napus to focus energy into growth above-ground rather than below. In the end, overall plant volume and total biomass were marginally affected by soil texture and significantly affected by the level of available nutrients present. The total biomass…

Finding the proper place is the key to business success. If the company chooses the wrong location, it can not have adequate access to customers, employees, transportation, materials and so on. Therefore, the location often plays a significant role in the company's profits and general success. Location strategy - a plan for the optimal location for companies by identifying the needs and goals of the company and search for places with the proposals, which are compatible with these needs and goals…

Introduction: During the last decades, different quality management concepts, including total quality management (TQM), six sigma and lean, have been functional by many different organisations(Andersson et al. 2006). Six Sigma, lean, and quality management are quality and operations systems all directing towards process improvement. They have implementation factors and results in common such as: Continuous improvement, customer satisfaction, people and management involvement. Nonetheless the…

closely linked to the land economic density and they are the important factors to increase the economic density. With the accelerated development of the urbanization, more and more rural population swarms into city, which will ask for more housing and a good living environment quality objectively, so that the building area is expanding gradually in space. In addition, in the process of urbanization, with the production factors and labor force gathered in the city continuously, the city…

resources to produce 500,000 tons of honey and 50,000 tones of beeswax per annum. Currently, honey and beeswax productions are 53,675.36 tons and 3,000 tones, respectively (CSA, 2011). From the total honey production over…