- 20 Marks
MP – OCT 2022 – L2 – Q1 – Productivity Decline in Ghana Microfinance Company
Explain key productivity terms, identify internal factors for decline, suggest improvement strategies, and outline managerial functions for a microfinance company facing productivity issues.
Question
At an Annual General Meeting of the Ghana Microfinance Company Limited held on 20th August, 2022, it emerged that her productivity growth rate, labour productivity and capital productivity have deteriorated over the last three years by 12%, 17% and 10% respectively. The shareholders resolved to motivate the Ghana Microfinance Company Limited to reverse the downward trend of the key productivity indicators in the next three years, 2022 to 2024. As Chief Operating Officer of the Ghana Microfinance Company Limited, it is incumbent to lead a discussion on productivity improvement strategies to address the challenges of Ghana Microfinance Company Limited within the three-year period.
REQUIRED:
a) In your own words, explain these terminologies: Productivity, Efficiency, Effectiveness, Added Value and Kaizen of Ghana Microfinance Company Limited? [10 Marks]
b) List and explain five (5) internal factors that might have contributed towards the reduction of productivity growth rate, labour productivity and capital productivity of Ghana Microfinance Company Limited over the period? [10 Marks]
c) Explain five (5) strategies that can be employed to improve productivity growth rate, labour productivity and capital productivity of Ghana Microfinance Company Limited? [10 Marks]
d) Explain five (5) managerial functions and roles required to enhance productivity growth rate, labour productivity and capital productivity of Ghana Microfinance Company Limited? [10 Marks]
[Total: 40 Marks]
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