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Summary of Class Activity 1 conducted on June 11, 2013

Summary of Class Activity 1 conducted on June 11, 2013. The Smart Se7en and 1/2. The Smart Se7en and ½ ( Contd …). The Smart Se7en and ½ ( Contd …). Introduction to Production. Prepared by Bhakti Joshi June 13, 2013. Did Paper Just Happen?. Paper does not happen easily…. CELLULOSE.

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Summary of Class Activity 1 conducted on June 11, 2013

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  1. Summary of Class Activity 1 conducted on June 11, 2013

  2. The Smart Se7en and 1/2

  3. The Smart Se7en and ½ (Contd…)

  4. The Smart Se7en and ½ (Contd…)

  5. Introduction to Production Prepared by Bhakti Joshi June 13, 2013

  6. Did Paper Just Happen?

  7. Paper does not happen easily… CELLULOSE MANUFACTURING PROCESS

  8. Transformation Fruits, Vegetables and Meat Burgers, Pizzas, Home-made food, etc Utensils, Wires, Construction Minerals like Copper, Iron ore Medicines, Pesticides, Cosmetics, Fertilizers, Defense, Dyes, Chemicals Surgeries, Bridges, Network Cable wires, towers, etc

  9. Transformation (Contd…) RADICAL CHANGE NO RESEMBLANCE Product AND/OR Service

  10. Elements of Transformation INPUTS OUTPUT Fruits, Vegetables and Meat Burgers, Pizzas, Home-made food, etc Utensils, Wires, Construction Minerals like Copper, Iron ore Chemicals Medicines, Pesticides, Cosmetics, Fertilizers, Defense, Dyes, Cable wires, towers, etc. Surgeries, Bridges, Network

  11. Input • Output Input & Output • An amount put in • A component • An act or process of putting in • A stimulus that acts on and is integrated into a bodily system • A result of a process • Material produced, manufactured or yielded • Something produced by a machine, factory, company or an individual in a period of time

  12. Input • Output Contextually Input & Output means… Wood pulp, solvents and chemicals Paper • Land • Water • Electricity • Intermediate goods • Labour • Capital goods • Entrepreneur Meat, Vegetables, breads, etc Burgers Copper, alloys like tin, zinc (Bronze) Pipe fittings, pumps, Statues Softeners, Bleach, Enzymes, CMC, etc. Laundry Detergent Basic Raw Materials

  13. Production Function Simplified definition in economics: q = f (K,L)* where, q = output K = capital L = labour *The production function also includes other aspects discussed in class but are subjective across industries

  14. Production Function Simplified definition in economics: q = f (K,L)* where, q = output K = capital L = labour *The production function also includes other aspects discussed in class but are subjective across industries

  15. Definition Productivity is commonly defined as a ratio of a volume measure of output to a volume measure of input use OR Productivity = Output Input Generated from production or service Provided to create this output The concept of productivity can be applicable to any economy, business (small, medium and large), government and individuals

  16. Numerical Example 1 OUTPUT Britannia Industries produces 30000 units of biscuits in October and the number of workers employed during this months was 30. These workers normally work 8 hours a day. Calculate the productivity for the month of October. • INPUT • Total Hours worked by workers = 30 workers * 8 hours = 240 • Total working days = 20 days. 4 weeks in a month * 5 working days. • 240*20 = 4800 30000/30 = 1000 units per labour 30000/4800 = 6.25 units per hour

  17. Criticism of Productivity Measurement • Assumes use of skilled workers • Assumes productivity and profitability to be synonymous • Confusion with efficiency (how well are the resources utilized) and effectiveness (how well the targets are set or the results are accomplished) • Aimless goals setting

  18. Productivity Measurement - Types Partial Factor Productivity Labour Total Factor Productivity Capital Labour Capital Multi-Factor Productivity Capital Labour Energy Materials

  19. Email: bhaktij@gmail.comWebsite: www.headscratchingnotes.net

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