Discuss the problems of measuring productivity in actual work situations. Also h

Question

Discuss the problems of measuring productivity in actual work situations.

Also how might productivity be measured for each of the following industries?

Discuss the problems of measuring productivity in actual work situations. Also how might productivity be measured for each of the following industries? Finance and insurance (example - brokerage houses, banks, insurance companies) Manufacturing (example- soap, computers, machinery) Education (example- elementary/ secondary education, higher education ) Government (example-(SSO) Social Security Office, (IRS)Internal Revenue Service)

Explanation / Answer

1) in case of service industry it is difficult to measure productivity as they will not be producing goods but they will be using their brains for generating the revenue.So generally financial statement values are used as alternative for productivity

1) In finance and insurance productivity is measured by valueing economies of scale bi.e how much man power(thinking) is used to produce the revenue or profit

2) in manufacturing as goods are produced this can be directly find out by measuring how much labor and capital is used for producing goods

3)In Education productivity is measured by valueing economies of scale bi.e how much man power(thinking) is used to produce Students who are in good education

4)In Government main theme is welfare. So we see that how much welfare is there given the resources. In this way producctivity is measured

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