Dick Smythe was educated at Bolton School, graduated in pure mathematics and statistics at St Andrews University and then took a masters in Operations Research at Birmingham University • He became a Fellow of the Royal Statistical Society, Operational Research Society, Institute of Management Services and the Institute of Physical Distribution Management • His career started with a scholarship from Dorman Long Steel on Teesside, working shifts on blast furnaces and steel mills before graduating and, afterwards, in their OR department – he subsequently moved to London to join the world-famous BISRA OR department, then part of British Steel, and was involved in their corporate planning and cost reduction programmes • During these earlier years, he became an officer in the Royal Naval Reserve, serving on their coastal minesweepers, and a wing forward for Rosslyn Park RFC (n'th XV), playing mostly for their famed après-rugby • He was then recruited by Europe's leading consultancy of the day, PA Consulting Group, and went on to set up and grow their Productivity Services Division into a significant part of the business, becoming a PA director and sitting on their UK management consultancy board - whilst there, he led a joint study with the CBI into UK productivity, and presented the results on TV, radio and to the national press with Director General Sir John Banham - The Times leader commented: "It is refreshing to come across something that has its feet firmly planted on the ground" • Since then, he has mixed productivity consultancy work with playing the property and stock markets, skippering his own boat in the Fastnet and many other ocean yacht races and keeping his golf handicap down to single figures • He is happily married, has two sons and two grandchildren to date, and lives either by the Solent or at Marble Arch in London

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Author's posts

The puzzle to persist?

According to Valentina Romei, writing in the Financial Times, the last decade  saw living standards in the UK grow at their slowest rate since the second world war She says: “The jobs bonanza, and the economy’s performance as a whole, was undermined by weak productivity, which grew at its slowest level in 60 years” She …

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Billionaires reveal their secrets

An interesting piece by Jade Scipioni in a CNBC news piece ‘Beyond the Valley’ There are some 2,600 billionaires in the world — and more than two-thirds are self-made A few have of the latter have shared lessons on life and how they found success Warren Buffett, worth some $80 billion – Invest in yourself: …

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AI promises huge productivity gains for financial services

In an article by Donna Fuscaldo in Forbes magazine she claims AI (Artificial intelligence) will bring lots of gains to the financial services industry, whether it’s through automating processes or adding more convenience for their customers. But now we can quantify just how big of an enhancement AI will have on the bottom line for …

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2020 foresight for fossil-free energy

A report by Kelsey Warner in The National says that, over the next 10 years, the Middle East’s biggest export could become the sun, not oil, thanks to new technology that turns solar power into fuel A new Bill Gates-backed clean energy company, Heliogen, based in Lancaster, California, has concentrated solar energy to exceed 1,500°C …

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Wasted time at school

Government sanctioned waste has a lot to answer for Ministers might bang on about the importance of productivity improvement but their thinking seems restricted to vital investment in infrastructure, R&D and skills training Drive around any town mid-afternoon and see streams of kids walking home from school – and wonder what they do when they …

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Productivity crisis fixed?

The Times has announced a project to be run by the strangely named ‘Be the Business’, a government sponsored initiative aimed at solving the productivity crisis said to be afflicting the nation 100 big companies, including Amazon, Aviva, BAE systems, British Land, Cisco, Google and Rolls Royce, ‘will promise to boost UK productivity by encouraging …

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More recognition of ‘consumer surpli’

A splendid article by Diane Coyle, Professor of Public Policy at the University of Cambridge and contributor to www.project-syndicate.org, has just been posted by the East African Business Week – it’s entitled ‘Rethinking Productivity’ and helps explain much of the current productivity puzzle supposedly afflicting many developed nations, including the UK The word “productivity” typically …

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Wasting time is not wasted time

Rest periods, R & R, tea breaks, lunch breaks and most meetings – call them what you will – are essential for brawn workers’ muscles to recover – they couldn’t work at full speed for a solid eight hours – just as Usain Bolt couldn’t run full pelt over 400 metres compared with 100 metres …

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National inputs also ‘seriously flawed’

Official measures of GDP are said to be ‘seriously flawed’ Now, a report by the OECD (Organisation for Economic Co-operation and Development) and the Centre for Cities think tank claims ‘millions more people are unemployed than official statistics suggest’ Worse still: “The joblessness rate could be three times higher than thought” because some three million …

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At last, official recognition of the ‘GDP gap’

Yian Mui reports on CNBC that the US Federal Reserve wants to know what the internet is worth to you. He says the answer could help the central bank solve one of the most puzzling paradoxes of the modern economy: The current expansion is the longest in history, yet productivity gains are weak and GDP growth, …

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New UK ‘Productivity Institute’

Productivity of UK businesses is set to be supercharged with £88 million in new government investment announced the Department for Business, Energy & Industrial Strategy: £88 million new government investment to help close the productivity gap between UK and major world economies and turbocharge British businesses investment will help power the next generation supercomputers which …

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Productivity stagnant despite global stimulus

Mark John reports that economies around the world have failed to boost productivity levels despite $10 trillion of central bank stimulus unleashed since the global financial crisis of a decade ago, according to the WEF (World Economic Forum) think tank. Productivity, a measure of an economy’s ability to generate growth, has become of a matter …

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A National ‘Balanced Scorecard’

All nations – governments and their electorates – need a National Balanced SCorecard (NBSC) of performance measures – a set of cardinals they each can monitor which covers all important factors affecting their standard of living (SoL) and quality of lives (QoL) The  NBSC would be a mix of measures – some absolute, some subjective …

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Beware ‘snooptech’

Ben Gallagher, co-founder of B+A, a management consultancy, raised an interesting slant on new digital possibilities ‘Snooptech’, as the Telegraph reported recently, is a £2.7billion industry The increasing sophistication of digital tools, as well as the continued stagnancy of productivity in the UK, has created a market for technology whose sole purpose is to allow companies …

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BoE powerless in UK productivity crisis

Tim Wallace in the Daily Telegraph reports Mark Carney, Governor of the BoE – Bank of England – saying: “Britain’s economy has a new, lower speed limit” Growth can only get to even modest levels before inflation takes off whereupon ‘we must ease our foot off the accelerator’ Ben Broadbent, one of Carney’s deputies, claims: …

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Three Factors Of Successful Companies

Kweilin Ellingrud, a senior partner at McKinsey & Co, contributed the following interesting article to Forbes magazine   It’s been 12 years since the last recession, when the World Bank estimates that global GDP fell by 1.7%. But some companies were better prepared than others: their revenues didn’t fall as far and, as the recession …

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Organisation productivity measurement

Professor Jillian MacBryde from the University of Strathclyde says: “When manufacturers talk about productivity, they’re not talking about the same thing as the economists and politicians – they’re not even talking about the same thing when you go from company to company” Such is the current fog enshrouding the productivity of UK businesses The set …

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Mentalism overtaking Materialism

According to official statistics, the GDPs of all G7 developed nations have been trending flat, even downward, over the last decade and more The big question is whether, at the turn of the century, the G7 reached a watershed between their old 20th century materialist economies and the new 21st century mentalist economies – the …

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A new ISC rides to the rescue

Puzzle no more about dormant national productivity – the cavalry have arrived in the form of Andy Haldane, chief economist of the BoE (Bank of England) who is to chair the government’s new ISC – Industrial Strategy Council – it’s another quango of sorts for a select few of our great and good to deal …

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At work but not working

According to the CEBR (Centre for Ecoomics and Business Research) UK businesses don’t know how to maximise their human capital despite the vast majority being ‘concerned’ or more about their people productivity – indeed, a survey they conducted found that: Some two thirds have not looked at ways to boost employee well-being and so motivation …

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Further UK education needs

“The new prime minister will have to rise to the skills and productivity challenge, and make sure that everyone, no matter where they come from, can get a chance to have a great job”, says Anne Milton, UK Minister for Skills and Apprenticeships The following is an article she wrote in FEWeek I want the …

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Boeing’s MAX 737 disaster

Stan Sorscher, a former Boeing engineers and now a Labour Representative at the SPEEA (Society for Professional Engineering Employees in Aerospace) is the author of a letter, reproduced in full below, which he posted to the Seattle Times In it he says Boeing’s cost-cutting culture is to blame for production problems with the 737 MAX …

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Extra task performance measures

Some interesting ideas follow from ‘Entrepreneur Europe’ on ways to assess the performance of a team – marketing or software development, say – and keeping a finger on their pulse Four extra performance measures are proposed: Planned-to-done ratios: How well have plans been executed? What % were completed satisfactorily, or better? Cycle time: Work is …

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Winners need stamina

A question managers often ask is “Why do so many big change projects fail?” It’s not so much the steps they take – all follow much the same basic steps when under way viz: Record facts Examine findings Develop solutions But where most go wrong is with other steps needed before, during and after the …

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Turbocharging Australian productivity

Adrian Blundell-Wignall, former director of the OECD and professor at Sydney University, says: “It’s not enough to tweak R&D incentives – we, Australia, need a detailed plan that will change the whole climate for smart investment and productivity growth During the (recent) election, the focus was on tax cuts and “having a go” The Treasurer …

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The Secret Sauce for productivity?

Greg Hanover, CEO of Liveops Inc, claims organisations that tap into the power of the gig economy see much increased (% ?) workforce engagement and productivity Why so? He believes it’s because independent workers are empowered to follow their unique goals and create satisfying careers for themselves And he’s right – it’s not only good …

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GDP – Consumer Surpli

Consumer surplus is defined as the difference between the highest price a consumer would have been willing to pay and the price actually paid It’s the unquantified value customers obtain from tangible stuff they buy – such benefits include taking less time or effort to do things, obtaining more fun and pleasure from life, having …

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Small Businesses measure up differently

Michelle Ovens campaigns for the UK’s 5.5 million SBs in the ‘Small Business’ publication She notes that small businesses are responding to this time of change and uncertainty with Brexit by keeping faith in the community values that make them the backbone of the UK economy. She asks: “Perhaps we have been looking at small …

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AI, the future of work and inequality

An excellent article follows, by Daniele Tavani, Colorado State University, USA – reprinted in full One of the most spectacular facts of the last two centuries of economic history is the exponential growth in GDP per capita in most of the world. Figure 1 shows the rise (and the difference) in living standards for five countries …

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Ethical capitalism

We have waxed long and hard on these pages about CEOs acting like pigs at the trough, robbing their businesses, the golden geese that should be improving the lot of all in society, by paying themselves huge unjustified pay and bonuses and maximising their share prices (and hence their shareholdings) whilst paying their employees the …

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