The Productivity Puzzle
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- Опубліковано 15 вер 2024
- There's more to the census than demographics.
Lucia Foster, Chief Economist at the U.S. Census Bureau, examines the relationship between management practices and productivity in businesses. Through a comprehensive study involving data from 14 countries, Foster highlights how structured management practices-focusing on monitoring, targeting, and incentives-correlate with higher productivity and larger business scale. She discusses the persistent variations in management practices and their impact on business outcomes, emphasizing the importance of understanding these dynamics to drive economic growth and improve living standards.
Explore her work at scholar.google...
So what work has been done to establish a causal relationship between structured management practices and productivity? seemed like an odd place to finish off...
There is a reason she starts off with saying its all just her opinion.
Not really an odd place to finish off if such a causal relationship has not been established. She ends by stating that there is a relationship, referring to the correlations the research she was involved with found.
There's also the ethics implications of bonuses and other incentive programs. We saw what happened with Wells Fargo and their pressure cooker sales practices that led to millions of fraudulent accounts created by sales reps who were simply afraid of losing their jobs. On paper it looked very productive.
All fine and good, but can we also talk about what is being produced and why? Let's talk about competing definitions of a good quality of life.
Productivity has Grown since the 70s and Wages have become stagnant.
Stop the BS.
The most powerful use multiple tools to achieve this outcome.
They want a stagnant middle-class,
because a powerful growing middle-class is the only enemy they fear,
who could throw them out of power.
There is no productivity problem. There is a wage problem. Wages have remained stagnant while productivity has increased
This could've been 7 mins long
You can't force creativity.
agreed, this stuff works well for uncreative, pre-defined tasks, but does not work so well for coming up with new ideas. Unsurprisingly a bureaucrat drew the conclusion that more bureaucracy is necessary!
On that note, it should've at least been given lip service that structure should not be interpreted as hierarchical rigidity. In fact, the latter can be outright corrosive to productivity as potential efficiencies and innovation are lost to internal power struggles and a demoralized workforce. Japan's kaizen philosophy of open doors and feedback played a key role in its 1970s-1980s success while the meritocratic "shareholder value" philosophy of instant returns at any cost knee capped any global advantages for US firms. The Andon cord, which revolutionized manufacturing by empowering line workers to make judgment calls, was birthed in Toyota assembly lines.
How do most of you guys still make profit, even with the downturn of the economy and ever increasing life standards
Well, I picked the challenge to put my finances in order. Then I invested in cryptocurrency, stocks, through the assistance of my discretionary fund manager
Julie Alma Stevens
Julie has an exceptional ability to capitalize on opportunities created by economic changes. Her skills are top-notch.
This is correct, Julie's strategy has normalized winning trades for me also and it’s a huge milestone for me looking back to how it all started
Yes, I agree with you. Her platform is wonderful and her strategies are exceptional
Efficiency in business is profitable, odd. Y'all ought to check the connection between high employment and high productivity. Curiously, as an input (labor) becomes more expensive, (with a lag) businesses work to minimize the amount used. Just as if gas prices are high, businesses work to cut down the use of it. Presto! High labor productivity. (Or high gas productivity.) How amazing.
"Less structured management practices" is not well described, although the amazing amount of data described must be quite lucrative for somebody, and the "structured" seems to be connected to the money involved. Sorry, that's not management. Teamwork is management.
But please, go on without me.
is Lucia talking about labour ot total factor productivity? And has any analysis been made on the bundles of structured management practices. Some bundles may be better than others. I also wonder why only correlations and not regressions (i.e. causality)?
We need a new education system. We as a society do not have the same logic, reasoning, values, morals, discipline, etc. we need to categorize ourselves into the ones that do. It is an injustice to expose children to a forcible environment. This is not right. Children need to be in the environment they most understand and with those students who share the same comprehension of the curriculum. We do not share the same opinions, perspectives and don't find the same things funny.
I think you are looking at the wrong things, and because of that the conclusions that will be taken will be of low value in terms of knowledge but of high ideological value. And the reason is that very often management initiatives have contradictory results, a lot of what is done has no analytical context. Very often measurements aren't taken, often measurements taken only address a small part of the reality, and very often the data is biased towards what management wants to happen.
Better aggregate proxies of management effectiveness are personnel turnover, returned sales, customer complaints, product returns, unsold merchandise turned to landfill, also deflate any related productivity number against future or realized liabilities.
About cheques. Cheques take too long to clear and mailing cheques also take too long with a chance of not reaching its destination. I want the government to initiate E-transfers as a way to conduct this kind of payment. It's instant and takes all the haggle and anticipation out of something that we already want but without this old fashioned way of cheque writing. It takes too long for a transaction like this to exist in 2024. Just hurry up that's all I'm saying. Or at least give us the option of having an E-transfer.
Just tax land
just tax your bodily functions