Elucidate the following statement about productivity.productivity is an important tool for managers as it helps to track progress toward the more...

Productivity is not just a tool of management. It is more of an
important purpose or objective of management. As productivity is an important objective of
management measuring and monitoring productivity is definitely an important tool for
managers.

However there is a need to be clear about the means and
objectives. The statement made in the question:

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... productivity is an important tool for managers as it
helps to track progress toward the more efficient use of resources
...

reverses the correct sequence.
Productivity is not important because it helps to track progress towards efficient use. Rather
tracking of efficient use is important as it helps to improve
productivity.

While on the subject, it will be appropriate to
differentiate between efficiency and productivity. While efficiency concentrates on reducing
input resources employed, productivity concentrates on increasing the output. We can improve
labour productivity by increasing automation and capital resources. Such and increase in labour
productivity cannot be attributed to increase in labour efficiency. Thus, I disagree with the
statement made in the previous answer posted that productivity is a measure of
efficiency.