Certainly, productivity can be considered an important tool for managers to use in order to assess progress. The idea of being "productive" from a market standpoint is one necessary benchmark to monitor the effectiveness of what is being done in the issue of commerce and generating business. I would suggest that it should be used as one of many tools. As a concept, productivity is one of many elements that should be used. I am a bit leery of constructing it as the only tool because it is dependent on other factors. Managers and subordinates can literally do everything possible, but productivity might not be rising as much due to economic conditions that surround all businesses. For example, if the economic context is enduring a period of contraction and slow growth, productivity might stagnate or decline. This is not a reflection of managers and workers, who have already done everything in their power, but rather a reflection of the context that lies outside of their control. I think that productivity can be used as one of multiple tools that managers can use in order to assess progress and improvement.
Productivity may be defined as output produced per unit of input resources used. It is more a measurement of efficiency and performance of work managed rather than a tool of management. Improvement in productivity and that in efficient use of resources, may be considered one and the same thing.
However we may use measurements of productivity as a means of setting targets for and monitoring efficiency and performance. This definitely helps in inproving efficiency. In this way planning and monitoring of productivity can be considered an useful tool for improving efficiency.