Productivity is the quality of what is productive. It is, according to the dictionary Larousse online, capacity production obtained per unit of factor of production, or of the mass of living substance produced in a given time on a surface of land or water, for example.
In economics, productivity is the relationship between what is produced and the means employed (labour, materials, energy, etc.). That said, it is associated with efficiency and time: the productivity of the system is even greater than the number of hours or days (time) necessary to achieve the result expected is low.
Through productivity, it is possible to evaluate the ability of a system to develop products and the type of resources used. Greater productivity is greater profitability for an enterprise. Thus, quality management aims to ensure the company can increase its productivity.
Overall productivity is a concept used by large companies to improve productivity through the study of their determinants and elements are involved. In this sense, the new technologies, the Organization of labour and personnel, the study of cycles and distribution are part of the analysis.
The productivity of labour, on the other hand, is to increase or reduce performance, particularly with regard to changes in labour, capital, technical or any other factor.
Finally, the overall productivity of factors relates to the performance of the economic process measured in physical or monetary units by ratio between employees and the products obtained.