Management Fundamentals 7th Edition by Robert N. Lussier

Exercise 14

Objective

To gain experience in determining ways to increase productivity

Skills

The primary skills developed through this exercise are:

1. Management skill – decision making

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2. AACSB competency – analytic

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3. Management function – controlling

1. Select a place where you work or have worked. Identify the few critical success factors (Chapter 13) that were/are important for your job/department success.

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2. Determine ways to cut input costs but maintain outputs in order to increase productivity. Identify ways to save time and money. How can things be done cheaper?

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3. Determine ways to increase outputs but maintain inputs in order to increase productivity. What can be done to produce more? How can things be done quicker and better?

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Apply It

What did I learn from this experience? How will I use this knowledge in the future?

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Step 1 of 3

2. Input costs can be reduced by reducing the cost of excess hardware products. It can also be reduced by focusing on just in time inventory. This means the cost of inventory will be minimized.

If this is achieved then time and money will be saved which will increase the productivity.