“In fact, one of the greatest capitalist entrepreneurs of all time, Henry Ford, instinctively grasped this truth when he famously declared, “There is one rule for the industrialist and that is: Make the best quality of goods possible at the lowest cost possible, paying the highest wages possible. It is not the employer who pays…
U.S. first quarter productivity strongest since 2014; labour costs drop Higher productivity compensate higher wages, increasing workers skills, company profits, and consumer spending. “Compared to the first quarter of 2018, productivity increased at a rate of 2.4 percent, the best performance since the third quarter of 2010.” “The strong pace of productivity suppressed growth in…
Resources include time, people, knowledge, information, finance, equipment, space, energy, materials. The real responsibility for productivity or performance improvement should be largely in the hands of those organising the work rather than the individual worker.
