Return to Productivity

Productivity Improvement steps

There are three steps for making big productivity improvements:

    1. Short term  = Cut waste
    2. Short/ Medium term = Optimise mix of costly resources and methods used
    3. Longer term = Invest in new skills and technology

 

“Productivity improvement will start a virtuous cycle of growth as goods and services offering better value provide for rises in income which fuel demand for even more and better, resulting in robust future growth and prosperity” – McKinsey’s

 

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