All animals, humans included, are born with a brain within which resides an instinctive control system, ticking away 24/ 7 much like a Microsoft operating system This subconscious system controls most of what we need to survive and protect ourselves, procreate, feel pain and pleasure It also stores knowledge acquired by learning by rote and practice …
Tag: Knowhow
Aug 18
Can PLG plug a big productivity gap?
Whilst investment, innovation, competition and luck all play a significant part in the performance of any organisation, public as well as private, it is its management that has the most influence The same applies at national level with government ministers And if managers and ministers, whatever their level, are to do their jobs well they …
Jun 29
Dismal productivity trends need not continue
The OECD – Organisation of Economic and Cultural Development – recently painted a dismal G7 economic picture claiming ‘slowing rates of productivity growth’ in advanced nations over the last ten years or so Other data suggests the same trend is underway in many less affluent nations according to an article by Marc Levinson – his …
Jun 28
Greatest AI value needs new business models
In the 60s and 70s, most firms invested in mainframe computers, then minis, to improve service, not output, and because everyone else seemed to be doing so – they were not investing in IT to improve productivity – and these IT investments were all focussed on supporting existing business models Josh Sutton, CEO of Agorai, …
May 11
Vanguard lead way for big improvements
Productivity is the most important peacetime issue facing any nation or organisation – therefore, one would expect all governments and major business schools, management organisations and consultancies to focus on it Not so For example: The UK has no well-known, well-supported productivity ‘centre of excellence’ e.g. a UK Productivity Centre – HMG might occasionally set …
Jan 29
Wolf explains UK productivity gap
The great financial journalist Martin Wolf of the FT recently opined about the current state of UK productivity – disappointingly, his words offered no new insights and were simply a regurgitation of current groupthink. He kicked off with the now well-worn cliche from Paul Krugman about productivity being ‘almost everything’ – and then trotted out a …
MIRACLE solution to productivity puzzle
The US is worried about the puzzle of their flat output/ GDP and productivity growth following the 2008 financial crisis, yet employment has risen Likewise the UK and other G7 nations They had all expected growth to ‘revert to trend’ by now and be at least 2% per annum, not approach zero as seems to …
Basic steps to big improvements
There are various acronyms on offer for how to go about improvement projects viz: PDCA from TQM – Plan, Do, Check, Amend DMAIC from Six Sigma – Define, Measure, Analyse, Improve, Control SREDIM from Work Study – Setup, Record, Examine, Develop, Implement, Maintain All boil down to much the same process Managers, whatever their level and …
It’s the rest, not the best, that’s the problem
The Brooking Institute’s Martin Neil Baily and Nicholas Montalbano considered the causes of the current global productivity puzzle recently “The most promising sign for future growth is that the most productive firms are growing faster than the rest – the frontier is still moving out – but the diffusion of best practices is not pulling the …
Broad action needed post Brexit
In the Guardian, Katie Allen recommended ways Prime Minister Theresa May could ‘lift the UK economy’s post-Brexit’ blues – via: Tax cuts – especially VAT More infrastructure spending – traffic jams and delivery delays waste a huge amount of time, adding to unit costs and reducing national productivity Encouraging huge increases in housebuilding across the nation, …
Wage levels versus Productivity
President John F. Kennedy believed that “a rising tide lifts all boats” but many question if that remains true today in the business world They point to data showing that productivity has risen sharply since the end of WW2 whilst wages have stagnated and conclude that productivity-driven economic growth does not necessarily benefit USA workers …
Pin factory productivity
Adam Smith illustrated how the division of labour could improve productivity in the famous small pin factory example he used in his tome ‘Wealth of Nations’, 1776, viz: 10 workers, each specialising in a different aspect of the work , could produce over 48,000 pins a day However, if each of these ten workers had made …
GE announces ‘Big Data’ productivity gains
A new report from GE – General Electric, USA – found that the Industrial Internet could add €2.2 trn to European GDP by 2030, boost productivity and spur economic expansion. The report, called The Industrial Internet – Pushing the Boundaries of Minds and Machines: A European Perspective, says that a mere 1 % increase in efficiency …
Myths about productivity?
An interesting set of views and counter claims about productivity were found on Google: It leads to higher wages: It doesn’t It needs collective bargaining, but unions have mostly lost their influence It doesn’t result in fewer jobs: In an ideal world, it would lead to increased output, increased market share and even increased number of …
UK public sector wastes £120bn – every year!
A new report from the Taxpayers’ Alliance claims that the UK public sector wastes £120 billion each and every year And this is despite claims of tightening belts and being forced to close libraries or fire lollipop ladies. It’s equivalent to a cost of some £4,500 for every British family. They say: “A relentless war on …