Difference between efficiency and productivity.
1. Efficiency in the work place is the time taken do something.
2. It measures the capability of the workers and managers. Are they capable to do some work or not.
3. Efficiency increases productivity, saves time and money.
Productivity measures the efficiency of the conversion. Productivity is the relationship between output generated by a production system and the input.
1. It is the ratio of outputs of the system to input employed in the system.
2. It is the dimensionless number.