Redefined Productivity & Socio-Economic Development Oriented Management Decisions
AbstractIn the Domain of Development Economics, Productivity is represented by Output to Input Ratio & Management Decisions related to the Inputs and Outputs ensures to keep this ratio in a favourable condition. When this is integrated with a Broad-Scope of Socio-Economic Development (SED). Qualitative aspect of Output & Input Management Decisions are to be evaluated with reference to 1. SED Goals for a favourable condition. 2. Intangible aspects are given a higher priority than tangible aspects. Quantitative aspect of Output & Input are to be evaluated with referenceto : 1. SED Goals for a favourable condition & 2. Output to InputQuantum ratio also for a favourable condition. This is presented in 2.Part1:Expanded Productivity Algebraic Model Part2:Integrated Management Decision Algebraic Model. CONCEPTS DERIVED :- (SED=SOCIO- ECONOMIC DEVELOPMENT UNITS)01.PRODUCTIVITY=SEDGOALS/INPUT>1 & SED GOALS/OUTPUT>1 SUBJECT TO OUTPUT/INPUT>1. 02.SOCIAL RATE OF RETURN IS IMPORTANT THAN QUANTUM RATE OF RETURN.03. INTANGIBLE ELEMENTS ARE IMPORTANT THAN TANGIBLE ELEMENTS(PSYCHO-SOCIO-INTER NATIONAL- UNIVERSAL) 04.MANAGEMENT DECISIONS ARE OPTIMUM WHEN SED GOALS/INPUT DECISIONS>1 & SED GOALS/OUTPUT DECISIONS>1. These are supported with the development experiences of over 40 nations in different development brackets (See details/slide show at http://www.drvsrs.com)
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Bibliographic InfoPaper provided by EconWPA in its series Microeconomics with number 0403005.
Date of creation: 30 Mar 2004
Date of revision: 30 Apr 2005
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Algebraic Model; Economic Development; Management Decision; Productivity; Redefined Productivity; Social Development; Socio-Economic Development;
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This paper has been announced in the following NEP Reports:
- NEP-ALL-2004-04-04 (All new papers)
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