Publisher's Synopsis
INTRODUCTION India is a capitalistic biased mixed economy. In spite of huge progress of the public sector during the plan period, the importance of private sector is tremendous in the Indian economy. On the basis of data (2001-2002) available for the country's industrial development, 86.1% of the total companies were under the control of private sector as compared to only 11.67 % companies under public sector. Private sector plays a dominant role for generating employment opportunities inside the country. A huge number of large scale, small scale and cottage scale units are under the control of private sector. According to 2001-2002 statistics as far as employment is concerned, the share of private sector was 51.2% against the 44.3% of the public sector. Private sector enhances the process of industrialization. All the private entrepreneurs work for profit motive. After the introduction of new industrial policy in 1991 private sector leads a vital role in country's industrial development. Productivity is one of the most renowned concepts within in the field of business administration. Because of that, a lot of the management strategies are designed attending the factors that affect it. Productivity obeys the production, but always referred to efficiency. From a wide point of view, increasing the productivity means the capacity of producing more with the same use (and consumption) of resources. Productivity is the effectiveness of productive effort especially in industry, as measured in terms of the rate of output per unit of input. It is an average measure of the efficiency of production. Subjective well-being refers to how we think and feel about our lives (Diener, Suh, Lucas & Smith 1999, Diener & Tay 2014). It actually is the evaluation of one's life in terms of judgements regarding satisfaction, emotional reactions of pleasure in response to life, or feelings of fulfilment. It is evaluated in terms of the positive affect, negative affect and satisfaction with specific domains (e.g. marriage, health and work Diener, 2006). Subjective well-being often construes well-being as a primarily affective state (Diener, Suh, Lucas & Smith 1999) with well-being, being conceptualized as relative,
