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Productivity Suite
Productivity is the efficiency of production of goods or services expressed by some measure. Measurements of productivity are often expressed as a ratio of an aggregate output to a single input or an aggregate input used in a production process, i.e. output per unit of input, typically over a specific period of time. The most common example is the (aggregate) labour productivity measure, one example of which is GDP per worker. There are many different definitions of productivity (including those that are not defined as ratios of output to input) and the choice among them depends on the purpose of the productivity measurement and data availability. The key source of difference between various productivity measures is also usually related (directly or indirectly) to how the outputs and the inputs are aggregated to obtain such a ratio-type measure of productivity. Productivity is a crucial factor in the production performance of firms and nations. Increasing national productivit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Efficiency
Efficiency is the often measurable ability to avoid making mistakes or wasting materials, energy, efforts, money, and time while performing a task. In a more general sense, it is the ability to do things well, successfully, and without waste. In more mathematical or scientific terms, it signifies the level of performance that uses the least amount of inputs to achieve the highest amount of output. It often specifically comprises the capability of a specific application of effort to produce a specific outcome with a minimum amount or quantity of waste, expense, or unnecessary effort.Sickles, R., and Zelenyuk, V. (2019).Measurement of Productivity and Efficiency: Theory and Practice. Cambridge: Cambridge University Press. . Efficiency refers to very different inputs and outputs in different fields and industries. In 2019, the European Commission said: "Resource efficiency means using the Earth's limited resources in a sustainable procent manner while minimising impacts on the envi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gross Value Added
In economics, gross value added (GVA) is the measure of the value of goods and service (economics), services produced in an area, industry or sector of an economy. "The ''gross value added'' is the Value of output (economy), value of output minus the value of intermediate consumption; it is a measure of the contribution to GDP made by an individual producer, industry or sector; gross value added is the source from which the primary incomes of the System of National Accounts (SNA) are generated and is therefore carried forward into the primary distribution of income account." Relationship to gross domestic product GVA is an important measure used to determine gross domestic product (GDP). GDP is an indicator of the health of a national economy and economic growth. It represents the monetary value of all products and services produced in the country within a defined period of time. "In comparing GVA and GDP, we can say that GVA is a better measure for the Welfare definition of econo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Office For National Statistics
The Office for National Statistics (ONS; ) is the executive office of the UK Statistics Authority, a non-ministerial department which reports directly to the Parliament of the United Kingdom, UK Parliament. Overview The ONS is responsible for the collection and publication of statistics related to the economy, population and society of the United Kingdom; responsibility for some areas of statistics in Scotland, Northern Ireland and Wales is devolved to the Devolution in the United Kingdom, devolved governments for those areas. The ONS functions as the executive office of the National Statistician, who is also the UK Statistics Authority's Chief Executive and principal statistical adviser to the UK's National Statistics Institute, and the 'Head Office' of the Government Statistical Service (GSS). Its main office is in Newport near the United Kingdom Intellectual Property Office and Tredegar House, but another significant office is in Titchfield in Hampshire, and a small office ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Electrification
Electrification is the process of powering by electricity and, in many contexts, the introduction of such power by changing over from an earlier power source. In the context of history of technology and economic development, electrification refers to the build-out of the electricity generation and electric power distribution systems. In the context of sustainable energy, electrification refers to the build-out of super grids and smart grids with distributed energy resources (such as energy storage) to accommodate the energy transition to renewable energy and the switch of end-uses to electricity. The electrification of particular sectors of the economy, particularly out of context, is called by modified terms such as Mass production#Factory electrification, ''factory electrification'', ''household electrification'', ''rural electrification'' and ''railway electrification''. In the context of sustainable energy, terms such as ''transport electrification'' (referring to electric v ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mass Production
Mass production, also known as mass production, series production, series manufacture, or continuous production, is the production of substantial amounts of standardized products in a constant flow, including and especially on assembly lines. Together with job production and batch production, it is one of the three main production methods. The term ''mass production'' was popularized by a 1926 article in the ''Encyclopædia Britannica'' supplement that was written based on correspondence with Ford Motor Company. ''The New York Times'' used the term in the title of an article that appeared before the publication of the ''Britannica'' article. The idea of mass production is applied to many kinds of products: from fluids and particulates handled in bulk (food, fuel, chemicals and mined minerals), to clothing, textiles, parts and assemblies of parts ( household appliances and automobiles). Some mass production techniques, such as standardized sizes and production lines, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Assembly Line
An assembly line, often called ''progressive assembly'', is a manufacturing process where the unfinished product moves in a direct line from workstation to workstation, with parts added in sequence until the final product is completed. By mechanically moving parts to workstations and transferring the unfinished product from one workstation to another, a finished product can be assembled faster and with less labor than having workers carry parts to a stationary product. Assembly lines are common methods of assembling complex items such as automobiles and other transportation equipment, household appliances and Consumer electronics, electronic goods. Workers in charge of the works of assembly line are called assemblers. Concepts Assembly lines are designed for the sequential organization of workers, tools or machines, and parts. The motion of workers is minimized to the extent possible. All parts or assemblies are handled either by conveyors or motorized vehicles such as forklif ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Organizational Structure
An organizational structure defines how activities such as task allocation, coordination, and supervision are directed toward the achievement of organizational aims. Organizational structure affects organizational action and provides the foundation on which standard operating procedures and routines rest. It determines which individuals get to participate in which decision-making processes, and thus to what extent their views shape the organization's actions.Jacobides., M. G. (2007). The inherent limits of organizational structure and the unfulfilled role of hierarchy: Lessons from a near-war. Organization Science, 18, 3, 455–477. Organizational structure can also be considered as the viewing glass or perspective through which individuals see their organization and its environment. Organizations are a variant of clustered entities. An organization can be structured in many different ways, depending on its objectives. The structure of an organization will determine the mode ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sociocultural Evolution
Sociocultural evolution, sociocultural evolutionism or social evolution are theories of sociobiology and cultural evolution that describe how Society, societies and culture change over time. Whereas sociocultural development traces processes that tend to increase the complexity of a society or culture, sociocultural evolution also considers process that can lead to decreases in complexity (Social degeneration, degeneration) or that can produce variation or proliferation without any seemingly significant changes in complexity (cladogenesis). Sociocultural evolution is "the process by which structural reorganization is affected through time, eventually producing a form or structure that is qualitatively different from the ancestral form". Most of the 19th-century and some 20th-century approaches to socioculture aimed to provide models for the evolution of humankind as a whole, arguing that different societies have reached different stages of Social change, social development. The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Production Function
In economics, a production function gives the technological relation between quantities of physical inputs and quantities of output of goods. The production function is one of the key concepts of mainstream economics, mainstream neoclassical economics, neoclassical theories, used to define marginal product and to distinguish allocative efficiency, a key focus of economics. One important purpose of the production function is to address allocative efficiency in the use of factor inputs in production and the resulting distribution of income to those factors, while abstracting away from the technological problems of achieving technical efficiency, as an engineer or professional manager might understand it. For modelling the case of many outputs and many inputs, researchers often use the so-called Shephard's distance functions or, alternatively, directional distance functions, which are generalizations of the simple production function in economics. In macroeconomics, aggregate produc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Robert Solow
Robert Merton Solow, GCIH (; August 23, 1924 – December 21, 2023) was an American economist who received the 1987 Nobel Memorial Prize in Economic Sciences, and whose work on the theory of economic growth culminated in the exogenous growth model named after him. He was Institute Professor Emeritus of Economics at the Massachusetts Institute of Technology, where he was a professor from 1949 on. He was awarded the John Bates Clark Medal in 1961, the Nobel Memorial Prize in Economic Sciences in 1987, and the Presidential Medal of Freedom in 2014. Four of his PhD students, George Akerlof, Joseph Stiglitz, Peter Diamond, and William Nordhaus, later received Nobel Memorial Prizes in Economic Sciences in their own right. Biography Robert Solow was born in Brooklyn, New York, into a Jewish family on August 23, 1924, the oldest of three children. He attended local public school and excelled academically early in life. In September 1940, Solow went to Harvard College with ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Growth Accounting
Growth accounting is a procedure used in economics to measure the contribution of different factors to economic growth and to indirectly compute the rate of technological progress, measured as a residual, in an economy. Growth accounting decomposes the growth rate of an economy's total output into that which is due to increases in the contributing amount of the factors used—usually the increase in the amount of capital and labor—and that which cannot be accounted for by observable changes in factor utilization. The unexplained part of growth in GDP is then taken to represent increases in productivity (getting more output with the same amounts of inputs) or a measure of broadly defined technological progress. The technique has been applied to virtually every economy in the world and a common finding is that observed levels of economic growth cannot be explained simply by changes in the stock of capital in the economy or population and labor force growth rates. Hence, technologi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
