Contents

 SECTIONS 

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1. Productivity basics:

  • Definitions – ‘Old’ v ‘New’ productivity – Efficiency v Effectiveness

  • Why so important – for people, organisations and nations

  • Current management views

  

2. Scope to improve:

  • Performance level variations

  • Private and public sector potential

  • Opinion testing – Insiders’ and outsiders’ views

  

3. The Productivity revolution:

  • Agricultural revolution

  • Industrial, then Service revolutions – Globalisation

  • Communication & Knowledge revolutions

  

4. Productivity drivers:

  • Management

  • Invention, Innovation & Investment

  • Competition & Luck

 

 5.  Performance improvement process:

  • Basic approach – The five essential steps

  • Do things right & do right things

  • Ratchet effect

 

 

6. Corporate plans:

  • Why have a plan?

  • Aims, Products, Markets, Resources

  • Action planning – SWOT analyses, Risk management

 

7. Cardinal measures:

  • Selection criteria

  • Current performance measures

  • Cardinal areas – Balanced Scorecards – Cardinal model

 

 

8. Financial cardinals:

  • Accountants’ measures – Weinstock 6

  • Investors’ measures – RoCE, EPS

  • Revenue, Costs, Profitability – R, C, P – Dupont chart

 

9. Customer cardinals:

  • Price Index – PI – Value For Money (VFM)

  • Quality Index – QI – Corporate Social Responsibility (CSR)

  • Service Index – SI – Overall Cycle Times (OCT)

 

10. Productivity & Waste cardinals:

  • Productivity – Financial productivity, Unit costs, Resource productivity

  • Efficiency – Capacity usage

  • Waste – AUE% – Availability (A%), Utilisation (U%), Efficiency (E%)

11. Employee Motivation cardinal:

  • Motivation % impact – ‘Productivity cliff’

  • Theories – Hawthorne experiment, Maslow, Herzberg, McGregor

  • Motivation Index – MI – Job design & working environment factors

 

12. Corporate Knowledge cardinal:

  • Definitions – Corporate knowledge (K) – Intellectual Property (IP)

  • Corporate knowledge % impact

  • Knowledge Index – KI = K(AUE)%

13. Targets:

  • Benchmark options – RPs, BPs, Waypoints, Goals, Dreams

  • Best Practices, internal & external

  • Target setting – Pitfalls

14. Performance Analyses:

  • Fact finding – Where are you now?

  • Option reviewing – Where best to act, when?

  • Action planning – Selection of special projects

  

15. Special improvement projects:

  • Set up – Terms of Reference, Team selection, Project planning

  • Solve – Pareto, ‘Critical Examinations’, Prize-giving, ‘Goldcorp challenge’

  • Implement – Communicate, Instal, Nurse

 

16. Organisation level improvement:

  • Products & Services – Ideas, Failures, Prototyping, Diversification

  • Markets & Customers – Existing & New market penetration

  • Structures & People – M&As, Divestments, Downsizing

  

17. Process level improvement:

  • Process differences – Services v Manufacturing

  • Minimise waste – OCTs – Ohno’s counterintuitive

  • Maximise efficiency – Work flows, Outsourcing, Big Data, IoT, AI

 

18. Task level improvement:

  • Capacity

  • Right methods, inputs, outputs and outcomes

  • ‘Baumol effect’

 

19. Continuous improvement – CI:

  • Why CI?

  • CI projects – Quality Circles

  • Employee suggestion schemes – GE ‘work-outs’

  

20. National productivity: 

  • National measures – GDP, Prosperity, Productivity – Flaws

  • National outputs and inputs – Labour, Materials, Energy, Capital

  • Extra government action needed

 

21. Global productivity:

  • Economic groupings – G7/8, G20, GRoW

  • Prosperity gaps – MDGs

  • How to improve global productivity

  

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APPENDICES                            

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Productivity:

A. Global – Malthus, Club of Rome, Innovations over time, Smith v Russell, ‘Richest list’

B. National – Economists’ theories, UK economy, Boston cluster, GDP league, Zipf’s Law

C. Sectoral – Public sector job proliferation – UK Health, Education & Justice sectors

D. Organisation – Evolution of approaches, Stakeholders, BEM, Baldrige, IIP, BSC, BVPIs, Porter’s 5 forces, McKinsey’s 7 Ss, Downsizing, Culture changing, TFP/ MFP

E. Process/ Task – Evolution of approaches, PM, WS, OR, VA, OPT, PPF/ MoT, BS 5750/ ISO 9000, Quality costs, TQM, Lean, Six Sigma, BPR, Outsourcing, Examples

F. Tools – Brainstorming, Paired comparisons, Process mapping symbols, Bell curve %s

 

Finances:

G. Accountants’ measures – P&L, B/S, NCF, FCF, RoCE/ RoS/ Asset turn, AV, EVA, Gearing/ Working capital/ Liquidity/ Insolvency, Inventory controls, Creditor & Debtors

H. Investors’ measures – EPS/ Yield/ PER/ PEG, BV/ IV/ EV, Market capitalisation/ MV/ Margin of safety, Valuing intangible assets, Valuing Google, Stock market cycles

I. Investors’ criteria – Buffett, Bolton, Slim, Slater – The key ratio – Checklist

 

Markets & Customers:

J. Marketing tactics, Sales analyses, Quality & Service measures, Salesforce productivity

 

Products & Services:

K. Sales & Profitability by product/ service, Portfolio mix, Boston grid, Pricing

 

Workforces:

L. Managers – Selection criteria, Key roles, Deming’s 14 points, Ike’s grid

M. Organisation structures – Traditional, Flatter the better, Maximum layers & spans of control, Maximum team sizes, ONS occupation groupings

N. Culture – Values claimed by top companies

O. Motivation – Peters, Robson, Nelson, Trafalgar, Wellington, Tampoe, Gladwell

P. Communications – Style, Meetings, CEO speech ‘No-Nos’

Corporate knowledge:

Q. Human capital, Structure capital, Customer capital

 

Background:

R. Bibliography

 

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