Productivity.

Productivity

A measure of the quantity of output per unit of input.

Output

The amount of something produced by a person, machine, or industry.

Inputs

Varied types of resources used in production, such as human, material, machinery, money, technology, and time.

Labor productivity

A measure of the efficiency of labor in producing output.

Capital productivity

A measure of the efficiency of capital in generating value added.

Multifactor productivity

A measure that represents the overall capability and considers multiple inputs in relation to output.

Efficiency

The ability to perform tasks in the most effective and economical way possible.

Effectiveness

The ability to achieve desired results and create value for customers and society.

Benchmarking

The process of comparing performance against industry best practices to establish performance goals.

Technological change

The development, invention, innovation, and diffusion of new technologies to improve productivity.

4.0 Industry

Refers to the fourth industrial revolution characterized by the integration of digital technologies into industrial processes.

Tata Business Excellence Model

A framework for driving business excellence, consisting of leadership, strategic planning, customer focus, process management, people development, continuous improvement, results orientation, innovation, partnerships, and sustainability.