Redefined Productivity & Socio-Economic Development Oriented Management Decisions
In 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)
|Date of creation:||30 Mar 2004|
|Date of revision:||27 Feb 2006|
|Note:||Type of Document - PDF; prepared on WIN2000; to print on ALL;|
|Contact details of provider:|| Web page: http://econwpa.repec.org|
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