Readers will know we believe the 5 most important drivers of national and organisational productivity are:
- Management quality and enthusiasm – to get the most out of all resources available to them
- Invention and innovation – to upgrade or replace existing products, services and existing processes
- Investment – to improve management, staff, structure and systems
- Competition – to exert pressure for continuous productivity improvement
- Luck, both random and managed – to take advantage of its impact.
Given these humble beliefs, it was good to read a letter, entitled as above and recently published in The Times, from some of the ‘great and good’ in the land, including Professor Sir Paul Nurse (CEO, Francis Crick Institute), Professor Sir Adrian Smith (President, Royal Society) and Professor Andrew Haldane (CEO, Royal Society of Arts).
We present their letter below, in full, just in case you missed it.
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Sir,
Any country pushing for growth must invest in its strengths, and Britain is no different.
The UK is a global scientific powerhouse but investment in it lags behind that of our competitors.
The government is facing a difficult spending review but that is exactly when a clear vision is necessary.
Investment in research and innovation is investment in improved productivity, future growth and improved lives.
From the development of life-saving vaccines to world-leading research in AI, clean energy and quantum technologies, this country continues to push the frontiers of global discovery and innovation.
If we want UK and overseas businesses to continue to back the UK, and for our research institutions to attract and retain the best talent, the government must send a strong signal about increased long-term funding for the people and ideas that will continue to shape the world.
QED