Name: Moaied Omar Altai
MBA batch 8 Group A
Principles of Economics
Many people may not be able to differentiate between Outputs and Outcomes, but the dilemma actually occurs because these two can happen during the same activity and they can have direct and indirect effect upon each other.
In language output is the amount of something produced by a person, machine or industry. Outputs relate to objectives. Objectives are the planned areas of activity through which you intend to achieve your aims. Outputs are specific services and products you offer to carry out those objectives. Economically the output could be in the form of a good or services that is produced by companies, industrial or national fields in a certain time. These outputs can be used by consumers or used in to produce another outputs. The wealth of the company comes from the output is sold and demanded the higher the sales and demands of the output. In national field the amount of different outputs produced measures how wealthy the country is. The output is always affected by the factors of input which is land, labor, capital and entrepreneurship.
Linguistically outcome is the way things turn or the consequence of an activity e.g. by playing chess the player concentration and tactical abilities might increase. In economics outcomes are the changes, benefits, learning or other effects that happen as a result of what the project or organization offers or provides. E.g. The important outcomes of organization activity managing plans
* Improved public image of the organization.
* Increased customer satisfaction.
* Improved acceptance of the organization by the communities in which the organization operates. * Positive change in the organization’s contribution to the health, safety and welfare of its employees.
* Primary Difference Between outputs and Outcomes...