Total factor productivity

between total utility and marginal utility. Adam smith is considered to be the first presenter of this paradox. The diamond - water paradox states that even though water which is relatively more useful for human activity (it is essential for human existence), the price of water is relatively low as compared to diamonds (which not essential for human existence).but the price of diamonds is substantially higher. In other words though the utility derived from water is very high and the…

the past century, the United States unemployment rate has fluctuation due to many factors ranging from recessions, depressions, and changes in workforce participation. Within the last decade, the United States endured a recession which caused major implications regarding the amount of jobs available and underemployment taking place. The evaluation of the unemployment of the United States takes into account many factors that many people tend to over look due to the extensive process. As of…

contribute to the organization’s success. Employee engagement can be measured and can vary from poor to great. Nurturing employee engagement in the workplace can also deepen communication between members of an organization and increase the overall productivity. The purpose of this study is to establish whether there is a relationship between employee engagement and employee satisfaction. Problem Statement Employee satisfaction and employee engagement are similar ideas that are significant to…

MOTIVATING EMPLOYEES IN DIFFICULT ECONOMIC TIMES In hard economic times, many companies perceive it too difficult to motivate employees with little or no monetary incentives. After weeks of exhaustive research, Union University Consultants will answer the three of the most important questions about motivating employees. How does one motivate employees? What are other companies doing to motivate employees? And, is it possible to motivate employees without direct monetary incentives? The answer…

trade. The above factors have largely enhanced both the scale and the size of multinational firms, and later on these firms have had greater capacity to gain both political and economic power. Among those successful multinational firms, however, their managers work with employees from different background, having different management styles and cultures identities, which could cause conflict between employee and employer. It could result in serious managerial inefficiency and productivity…

Chapter 5- Reward and Compensation Management This chapter explains the HRM function of reward and compensation and subsequently its impact on organizational performance. First, the reward and compensation as a concept is explained then we advance to elaborating on the reward and compensation strategy at Genpact. After establishing the background and the given framework the chapter investigates the strategic integration and then the major elements of reward and compensation integration and…

Through the use of this system, the administration can find a better way of improving its business process because the system provides a method of allocating indirect cost depending on factors which creates the value. Since in this system cost is calculated per product, the management can determine which of the business processes are successful and the ones who need to be improved (Edmonds et al., 2016). The activity-based costing can also…

Quality management and operations can be considered as the two sides of a coin and helps in achieving organizational objectives with their combined efforts & impacts. There are three factors which helps in order to maintain quality for products and services at workplace and these includes planning, assurance and controlling the quality of products or services of the organization. Quality improvement system adopted through monitoring and…

organization (investopedia.com, 2018). Importance and value of operations management There are two main reasons, behind management operations importance within an organization. First of all, it can improve an organization financial health, by improving productivity and secondly maximize customer value, in order to fulfil the objective…

Inequality is increasingly at the forefront of public debate. After seven years, global economies today continue to struggle for recovery from the 2007-2009 Great Recession. Rising inequality is not a new issue, yet the subject and its distribution has been continuously marginalized in the field of mainstream economics. Perhaps it is due to inconsistent views of what economic inequality is, its level of economic consequences, and when inequality becomes unjustified. As a famous economic…