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Redefined Productivity & Socio-Economic Development Oriented Management Decisions

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Abstract

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)

Suggested Citation

  • Dr.Vsr.Subramaniam, 2004. "Redefined Productivity & Socio-Economic Development Oriented Management Decisions," Microeconomics 0403005, EconWPA, revised 27 Feb 2006.
  • Handle: RePEc:wpa:wuwpmi:0403005
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    More about this item

    Keywords

    Algebraic Model; Economic Development; Management Decision; Productivity; Redefined Productivity; Social Development; Socio-Economic Development;

    JEL classification:

    • A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
    • C52 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Evaluation, Validation, and Selection
    • C67 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Input-Output Models
    • D78 - Microeconomics - - Analysis of Collective Decision-Making - - - Positive Analysis of Policy Formulation and Implementation
    • D84 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Expectations; Speculations
    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics
    • P27 - Economic Systems - - Socialist Systems and Transition Economies - - - Performance and Prospects

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