George's Pudding & Pie and the Bake Off - A Productivity and Growth Guest Blog
Written by Productivity and Growth Expert - Tim Scott
The Chancellor recently shared growth and productivity comparisons compared with other economies. He criticised productivity as the “challenge of our time”, then, more recently praised the economy for faster than expected economic growth.
So what practical action can we take from this political bake off and rise to the challenge without getting a soggy bottom. What is key is that metrics are being used to measure performance against your competitors. A key take home is “if you cannot measure it how can you tell if you are improving it”. With such information decisions can be made to review current course and strategy and identify areas for improvement.
So which course do you take, growth or productivity or even both. In essence my favourite phrase “it depends”, with dependence aligned to your business goals and objectives. The reasons you are in business is your competitive advantage in meeting the current and future needs of your customers.
Where many organisations struggle is developing a project culture where internal people have the freedom and skills to execute change management to close the gaps identified, whether it be for productivity, growth or both.
Using “projects” is a logical approach and one which successful business leaders alike aim to follow. It enables the day to day business to continue whilst allowing “experts” to come together to use their knowledge and experience to develop new ways of working. Used correctly it can energise and release talent which the day to day environment hides.
Below are some of the problems encountered when looking to improve Productivity and Growth:
- Defining the problem, what is a gap between current and desired performance?
- Metrics. What are the measurements, key performance indicators?
- Work Load. Who should work on closing the gap?
- Skills and techniques. How do you approach such a task?
- Identifying root causes. Symptoms verses causes y= f(X)
- Validating causes and potential solutions.
- Choosing the best solution that fits our organisation capacity & capability
- Change management and sustaining the gains.
- Measuring and celebrating success
- Continued Improvement.
These are not new challenges, but research shows that with training and coaching they can release individuals and teams freedom to produce far more. Resulting in more delighted customers both internally and externally. I think, George, Mary & Paul will agree that given the right tools and motivation we can achieve more than we thought possible, whether it’s a macaroon or decreasing the deficit!
With the drivers of Productivity & Growth as strategic initiatives and the knowledge that Business Improvement can be achieved by the use of closing the gap project management the Professional Academy have developed a range of courses to help organisations maximise growth and productivity to align organisational capacity and capabilities to meet market needs.
If you would like to book a meeting to discuss how Productivity and Growth training could benefit your company why not book a consultation today?