The Productivity Slump

Key note from Saul Eslake, a leading Australian Economist and Director of the Productivity Growth ProgrammeSaul Eslake

(summary, comments and interpretation by Denitza Genova)

Productivity growth has been in decline since 2000 (still growing but at declining rate of 1% compared to 3.5% in the previous decade).

Reasons:

  • Decline in population growth and levels of labour force participation; increase in labour costs and smaller pool of capable workforce
  • Capacity constraints and shortages of skilled labour  plus infrastructure bottlenecks have caused an increase of down-time
  • The increase of corporate profitability has led to diminished importance of the need to continuously improve performance;

This has changed in the last 2 years with businesses on harder times and refocusing on increasing efficiency (via lean manufacturing programmes, process reengineering, reducing waste, service blueprinting for example.) [...]

Posted in Economy | 2 Comments

Australia…still the lucky country

This was a fascinating debate with some big names round the table.

We weren’t able to capture all of it for you, but here are some of the highlights:

On the heated carbon tax debate:

One radical opinion in support of government intervention to reduce carbon emissions was that of Goran Roos, “Thinker in Residence” in SA who gave the example of Sweden, where the Government have been imposing strict regulations on all companies who didn’t innovate their practices to become carbon efficient.

As a result Sweden, as a country, is very close to becoming carbon-neutral, which is very impressive!

Our take on the issue of carbon dioxide reduction, business and politics: [...]

Posted in Economy | Leave a comment

Understanding Entrepreneurs

Malcolm Gladwell: Understanding Entrepreneurs

Why do some ideas or behaviours take off and spread successfully – and others don’t? The best messages and ideas behave like viruses, and understanding the laws of epidemics can shed new insight in how to rise above the clamour of voices trying to reach consumers.

Named one of Time Magazine’s 100 Most Influential People, Malcolm Gladwell has been a staff writer with The New Yorker magazine since 1996 and has an incomparable gift for interpreting new ideas in the social sciences and making them understandable, practical and valuable to business.” Extract from the business congress website

Key Points from Malcolm’s Presentation:

  • The key characteristics of successful entrepreneurs include intelligence, courage and having no fear of social exclusion
  • Successful Entrepreneurs have a Bi-Modal attitude to Risk, which is often misunderstood. [...]
Posted in Entrepreneurship | Leave a comment

Games…at work…?

I know, I know – it’s called “work” for a reason.

Gee how many times have you heard that one lately?
But does that really mean that good, old-fashioned FUN has to conspicuous by it’s absence?

Whether the going is tough or easy in your organisation; whether customers are falling out the trees or hiding under rocks; whether cashflow is very positive or excruciatingly negative; whether your competitors are floundering in your wake or almost out of sight in front of you, a spoonful of FUN can make the difference between working together to reach your goals or being held back by contention, apathy and despair.

Here’s a suggestion – and I can guarantee it won’t be popular with every manager.

Play games – a lot of games, Fun games.

Open-ended games. Games whose rules change and whose only real goal is – fun. Playing these games so that you can have fun, together, and so you can then use those experiences as a tool for understanding more about yourself, each other, and the art of leading with fun.

Play games that are a bit unusual. Make them as original as possible. None of them should focus on score, or winning and losing, or being a better player. All of them should focus on evoking the experience of fun. Some should be physical games, but not requiring anyone to be athletic. Some might be mental games, but not requiring anyone to be particularly smart. They should basically be invitations to play. These are games that you’ll be able to play again and again, with family and friends, co-workers and clients.

As you lead the games, you will be practicing what’s called “Leadership by Inclusion” – the art of leading with FUN!

Do NOT allow this to be said of you: -
“His men would follow him anywhere…but only out of morbid curiosity”
Examples of having FUN at work that achieved the desired result anyone…???

Posted in Fun at work | Leave a comment

Is Effort Alone Enough…

IS EFFORT ALONE ENOUGH TO GET WHAT WE WANT FROM LIFE

I came across this motivational video about peak performance and the extra degree of effort, called 212.

The basic premise is that at 211 degrees (F) water is hot and at 212 degrees it boils.
This 1 extra degree makes a world of difference to the impact it generates.

And whilst the conclusions and thoughts this video provokes are obvious – do more and you’ll achieve more, don’t give up – it takes just one extra step, etc I think given our overly busy life today the more relevant issue here is :

Is effort alone enough to get what we want from life?

Because if it is not ourselves we all know a lot of people who do so much, apply themselves, are always “flat out” but are not happy with where they are and with what they are achieving in life.

It is a very pertinent issue and it certainly deserves more time (and effort). So I want to break this down to several “conversations”.

Let’s start with a simple model using a popular approach in management decision making, the management matrix
I want to call this model “The 212 degree Achiever” or “The Peak Performer” ( if you don’t like the American reference to Fahrenheit).

The management matrix always relies on comparing case scenarios/options created by exploring 2 variables.
We already have one, the degree of effort we invest in what we do.
The second one, which I believe is a key ingredient to peak performance, is FOCUS.

So let’s see how it all comes together.
In the matrix on the right  there are 4 distinct behaviour models along the 2 variables of FOCUS and EFFORT.

Let’s look at them:

The Overwhelmed or the Cruiser

These are the people who don’t do much about anything because they don’t care (the cruiser) or because they are not sure which way to go (the overwhelmed).
Either way don’t expect to get anywhere interesting or meaningful with this strategy in life!

The Underachiever

Unfortunately we all know people who are so talented but just don’t apply themselves. The reasons are different but the end result – the same – disappointment that a great talent is wasted. The focus is there ( I know what I like and what I’m good at but it’s just too hard…) but the effort is missing.

The Overstretched

You have to feel sorry for these guys – they are so committed and involved in achieving and so tired and stressed out to enjoy it.
Why? Regardless of how healthy, strong and intelligent we think we are, we will always have a finite amount of energy and resources to achieve what we want. So we have to make a choice and prioritise.

The 212 Degree Performer

These guys certainly have found the answer.
Choose something that you like, are good at it and just keep doing it until you succeed, win, and feel happy (whichever words you choose to use to describe your final destination).

It’s a really simple formula – FOCUS and EFFORT or FOCUSED EFFORT.

I hope you’ve enjoyed this blog.

Let me know what you think.
Until next time,
Denitza

And here is the video:

Posted in Performance | Leave a comment

So what makes a Great Boss?

Is it recognising when I do great work? Or is it simply not kicking my butt if I screw up?

Most of us would agree that these are important, but is it more important to be trusted with challenging work? Or to be given regular and honest feedback? Maybe “greatness” is characterised by being given the resources I need (without begging!) to do my job?

All of these were in the Top Ten among 3,000 employees surveyed last year – but none of them were Number 1!
Can you guess what was?

A GREAT boss is “trustworthy and open in approach” more.. [...]

Posted in Leadership | Leave a comment

Hi Everyone!

 Alan and DenitzaThis is where we have meaningful, but light-hearted (no swearing) conversations about the challenges that modern managers and leaders face -how to achieve more with less;how to be results driven but also nurturing;how to be super efficient – and have fun and balance at the same time.

Please post your comments – looking forward to hearing from you!

Posted in Whats Your Opinion On | 3 Comments