World Productivity Day ― Date, History, and Details
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History of World Productivity Day and How to Celebrate/ Observe It
World Productivity Day is an annual event that celebrates the achievements of productivity and encourages people to strive for continuous improvement. The day also highlights the importance of productivity in achieving economic and social development.
Productivity is a measure of how efficiently resources are used to produce goods and services. It is essential for economic growth and competitiveness. Higher productivity means more output can be produced with the same amount of inputs, or the same output can be produced with fewer inputs. This leads to higher incomes and living standards.
Improving productivity requires investments in human and physical capital, as well as technology and innovation. It also requires good governance, sound economic policies, and labour market flexibility.
World Productivity Day was established by the World Confederation of Productivity Science in 1968. It is celebrated on the first Friday in June.