chapter  1
28 Pages

INTRODUCTION

A country's level and rate of productivity growth have a significant bearing on its standard of living, inflation, unemployment rate, and general economic wellbeing. Today, productivity and quality have become the national concern of both the developing and the developed economies. However, efforts to improve a country's productivity level and growth rate have to begin with its basic economic units, namely, companies/enterprises. Dr. John Kendrick, one of the well-respected contemporary authorities on productivity, puts it best: "Companies with higher productivity than the industry average tend to have higher profit margins. Moreover if productivity is growing faster than that of competitors, the margins will rise. Conversely, below-average levels and rates of growth of productivity will ultimately lead to bankruptcy ."1 Therefore, the focus of this book is to show proven, practical concepts and methodologies to improve the competitiveness of companies/enterprises. But first things first.