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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