Question

What is productivity?Which strategy do companies use for their financial benefit?

Answer 1

1st blank choices 
:outsourcing
price floor
productivity

2nd blank choices
cost
savings
work

Answer 2

Answer:

Productivity is the relationship between the quantity of products obtained by a productive system and the resources used to obtain said production. It can also be defined as the relationship between the results and the time used to obtain them: the shorter the time it takes to obtain the desired result, the more productive the system is. In reality, productivity must be defined as the efficiency indicator that relates the amount of resources used with the amount of production obtained.

Productivity evaluates the capacity of a system to produce the products that are required and at the same time the degree to which they take advantage of the resources used, that is, the added value. Higher productivity using the same resources or producing the same goods or services results in a greater capacity for profitability for the company. Therefore, the Company's Quality Management System tries to increase productivity. Productivity has a direct relationship with the continuous improvement of the quality management system and thanks to this quality system, product quality defects can be prevented and thus improve the quality standards of the company without reaching the end user. Productivity is related to production standards. If these standards are improved, then there is a saving of resources that are reflected in the increase in utility and process.