SECTIONS
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1. Productivity basics:
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Definitions – ‘Old’ v ‘New’ productivity – Efficiency v Effectiveness
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Why so important – for people, organisations and nations
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Current management views
2. Scope to improve:
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Performance level variations
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Private and public sector potential
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Opinion testing – Insiders’ and outsiders’ views
3. The Productivity revolution:
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Agricultural revolution
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Industrial, then Service revolutions – Globalisation
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Communication & Knowledge revolutions
4. Productivity drivers:
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Management
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Invention, Innovation & Investment
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Competition & Luck
5. Performance improvement process:
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Basic approach – The five essential steps
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Do things right & do right things
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Ratchet effect
6. Corporate plans:
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Why have a plan?
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Aims, Products, Markets, Resources
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Action planning – SWOT analyses, Risk management
7. Cardinal measures:
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Selection criteria
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Current performance measures
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Cardinal areas – Balanced Scorecards – Cardinal model
8. Financial cardinals:
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Accountants’ measures – Weinstock 6
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Investors’ measures – RoCE, EPS
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Revenue, Costs, Profitability – R, C, P – Dupont chart
9. Customer cardinals:
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Price Index – PI – Value For Money (VFM)
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Quality Index – QI – Corporate Social Responsibility (CSR)
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Service Index – SI – Overall Cycle Times (OCT)
10. Productivity & Waste cardinals:
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Productivity – Financial productivity, Unit costs, Resource productivity
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Efficiency – Capacity usage
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Waste – AUE% – Availability (A%), Utilisation (U%), Efficiency (E%)
11. Employee Motivation cardinal:
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Motivation % impact – ‘Productivity cliff’
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Theories – Hawthorne experiment, Maslow, Herzberg, McGregor
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Motivation Index – MI – Job design & working environment factors
12. Corporate Knowledge cardinal:
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Definitions – Corporate knowledge (K) – Intellectual Property (IP)
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Corporate knowledge % impact
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Knowledge Index – KI = K(AUE)%
13. Targets:
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Benchmark options – RPs, BPs, Waypoints, Goals, Dreams
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Best Practices, internal & external
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Target setting – Pitfalls
14. Performance Analyses:
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Fact finding – Where are you now?
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Option reviewing – Where best to act, when?
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Action planning – Selection of special projects
15. Special improvement projects:
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Set up – Terms of Reference, Team selection, Project planning
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Solve – Pareto, ‘Critical Examinations’, Prize-giving, ‘Goldcorp challenge’
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Implement – Communicate, Instal, Nurse
16. Organisation level improvement:
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Products & Services – Ideas, Failures, Prototyping, Diversification
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Markets & Customers – Existing & New market penetration
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Structures & People – M&As, Divestments, Downsizing
17. Process level improvement:
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Process differences – Services v Manufacturing
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Minimise waste – OCTs – Ohno’s counterintuitive
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Maximise efficiency – Work flows, Outsourcing, Big Data, IoT, AI
18. Task level improvement:
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Capacity
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Right methods, inputs, outputs and outcomes
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‘Baumol effect’
19. Continuous improvement – CI:
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Why CI?
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CI projects – Quality Circles
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Employee suggestion schemes – GE ‘work-outs’
20. National productivity:
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National measures – GDP, Prosperity, Productivity – Flaws
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National outputs and inputs – Labour, Materials, Energy, Capital
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Extra government action needed
21. Global productivity:
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Economic groupings – G7/8, G20, GRoW
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Prosperity gaps – MDGs
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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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