Each company works under a basic premise: inputs are consumed so that outputs are produced. This is the underlying premise companies have in common, regardless of the industry or trade they belong to, and the size they come in. Input, in its basic form, would be the resources the company has. Output, on the other hand, refers to the products and services that the company offers their customers and clients.
Both of these are actually measurable, which is very important when you want to find index for productivity. This is actually what is known as Productivity Index, which is expressed as a ratio. This relationship can be calculated as follows: the output is multiplied by quality. The product of which is then divided by the input. This would then give you the productivity index.
What is relevant in determining how productive a certain company is would involve the concepts of input and output. If a company produces a lot of output while requiring little input, then the system it is currently employing is productive. However, if much input is exhausted just to come up with a little output, then there is something wrong in this equation. Sure enough, the productivity...
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