Productivity is a result of the way that a business operates ? the result of the way that its people, business processes, different functional units and suppliers come together to meet the needs and wants of its customers.
Productivity is the combination of intelligent planning and focused efforts and hence, it is a combination of Efficiency and Effectiveness.
Efficiency :
Efficiency is an internal measure of performance for companies that shows how well the company converts inputs into outputs. The more the ratio of outputs to inputs approaches 100 percent, the better the efficiency of the process will be. In simple terms, it is ?doing things right? and comes from proper harnessing of time, cost and efforts.
Effectiveness :
Organizational effectiveness is an external measure of performance and indicates how well an organization fulfills the demands of various organizational stakeholders. Simply put, it is ?doing the right things."
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Ujjivan Small Finance Bank Ltd, a wholly-owned subsidiary of Ujjivan Financial Services Ltd, has been given scheduled bank status by RBI.
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The journal entry to record a credit sale is Accounts Receivable. Credit sale is nothing butthe customers pay at the time of buying.
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Among the first banks were the Bank of Hindustan, which was established in 1770 and liquidated in 1829-32.
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