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Productivity refers to the measure of efficiency in converting inputs into outputs in a given time frame. It quantifies how effectively resources, such as labor, capital, and materials, are utilized to produce goods or services. Higher productivity indicates that more output is generated with the same amount of inputs, reflecting improved efficiency. Productivity can be assessed at various levels, including individual, organizational, or national, and is often expressed as a ratio, such as output per hour worked. It plays a crucial role in economic growth, competitiveness, and overall performance within various sectors. Factors influencing productivity include technology, workforce skills, management practices, and organizational structure. Enhancing productivity is a common goal for businesses to increase profitability and market share while fostering innovation and improvement in processes.
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