Tag: Targets

UK industrial strategy

The UK government’s ‘Industrial Strategy’ for making the UK more competitive and the economy better-balanced essentially involves ways to increase R&D investment, and workers’ skills In particular, it covers five areas for productivity improvement – Ideas, People, Infrastructure, Places and Business environment Four “grand challenges” are also recognised: Artificial intelligence and machine learning Clean growth …

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Most plans go unseen or unused

The following is an extract from ‘Productivity Knowhow’ A good corporate plan is a punchy summary of where an organisation aims to be in five years’ time and, broadly, how it is to get there   Essentially, the plan should define the organisation’s ‘business model’ – how it will be better than its rivals and …

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Target setting

Targets are needed to bring meaning to any performance measure They enable one to quantify scope for improvement, performance gaps to be closed and urgency for change Told your ‘bad’ cholesterol level is 8.6 and most would ask ‘so what?’ – told that good health requires the level to be below 5 and a course …

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Labour has a terrible productivity idea

According to an article for Bloomberg View by Ferdinando Giugliano, one-time member of the Financial Times editorial committee, the UK’s Labour Party has come up with a ‘terrible idea’ for sorting out the country’s current productivity problem John McDonnell, Shadow Chancellor, proposes giving the Bank of England (BoE) a yearly 3% productivity growth target to sit …

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Human targets are best

In his book ‘Happiness’, Richard Layard points out that: ” People care most about their income relative to that of other people” i.e. more than the total itself He says most people would even be willing to accept a significant fall in their living standards as long as they could move up compared to other …

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