Big jump in productivity puts Britain up amongst international rivals

December 2003
Management Services;Dec2003, Vol. 47 Issue 12, p3
Academic Journal
The article presents information on the decision of Great Britain to close the productivity gap with other countries according to research published by Proudfoot Consulting. It suggests that Great Britain no longer lags far behind the U.S., France and Germany in terms of economic efficiency. The study, published in October, says that plants in Great Britain work to 60% of maximum productivity, up from less than 50% just two years ago. The 60% figure is the same as in France and only slightly below the 63% measured for the U.S. and Germany. The Proudfoot Consulting study will offer encouragement to the government, which since 1997 has put in place its so-called productivity agenda. But the report, entitled 'Missing Millions--How Companies Mismanage Their Most Valuable Resource' also suggests that firms could be doing much more to raise productivity, and that poor and unfocused management is often to blame. It estimates that by raising productivity to these optimum levels, countries could boost gross domestic product by about 10%. In Great Britain, that gain would be £90 billion.


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