Productivity is defined as the efficient use of resources (materials, labour, money, time) and utilisation of machines, land, energy and information, in the production of various goods and services. Higher productivity means accomplishing more with the same amount of resources or achieving higher output in terms of volume and quality from the same input.
Company productivity
is generally defined as the “function of the output performance of the
individual firm compared with its input”
In economic terms,
productivity refers to the extent to which a firm is able to optimize its
management resources in order to achieve its goals
