What is industrial productivity? Explain factors affecting industrial productivity.
What is industrial productivity? Explain factors affecting industrial productivity.
Industrial Productivity is measurement of the efficiency of production. Basically, it is the relationship between the amount of output and the amount of inputs used to make the product or goods.The 6 important factors which are affecting the industrial productivity are 1) Government Policy 2) Quality of Human Resources 3) Availability of Finance 4) Technological Development 5) Natural Factors 6) Managerial Talent. Technological advancements means trying to achieve greater output with advances made in automation etc. Managerial factors always play a critical role in productivity, if the right conducive atmosphere is not created then the productivity of human resources will come down and technological advancements will not take place. Human resources are critical in any organisation, without it an organization can never move forward with better productivity. Government policies could be in terms of labour laws, and how tax policies are towards the industry. Natural factors which play a role are climate and weather conditions. Finance is always needed to retain good human resource talents and for the research activities that is needed to make technological advancements.
Industrial Productivity is measurement of the efficiency of production. Basically, it is the relationship between the amount of output and the amount of inputs used to make the product or goods.The 6 important factors which are affecting the industrial productivity are 1) Government Policy 2) Quality of Human Resources 3) Availability of Finance 4) Technological Development 5) Natural Factors 6) Managerial Talent. Technological advancements means trying to achieve greater output with advances made in automation etc. Managerial factors always play a critical role in productivity, if the right conducive atmosphere is not created then the productivity of human resources will come down and technological advancements will not take place. Human resources are critical in any organisation, without it an organization can never move forward with better productivity. Government policies could be in terms of labour laws, and how tax policies are towards the industry. Natural factors which play a role are climate and weather conditions. Finance is always needed to retain good human resource talents and for the research activities that is needed to make technological advancements.
