Productivity is the tool that can eliminate almost all of the scourges of humanity be it poverty, hunger, disease or war. Enhancing productivity is the primary means of raising prosperity. Productivity is dependent on competitiveness and degree of motivation one carried for a particular work. An overarching objective of Prosperity through Productivity is to examine the notion of competitiveness from different angles. The roles of individual initiative, business strategy and policies in maximizing productivity will only be an enveloped uncertainty unless, all of us, fully tap our own potentials and wells of talent lying dormant.

World over experts have highlighted the importance of productivity in ushering growth. It is all the more important for economy trapped in global economic meltdown. The optimistic economists expect productivity growth to continue after a slight burp to expel the recession pressure, the less sanguine feel that  prosperity is not forever although it certainly has impact while it lasted. All said and done productivity will always remain a solution in time of crisis.

Productivity is the key to Prosperity, which in turn is an indicator of a country’s potential for economic and mental prowess. With the curtain fell marking the end of the economic euphoria, countries have to adjust with no choice but to adapt. In this period of constant change, intense competition, falling prices and wafer-thin margins, it is essential to attract and invest in creative minds.

Productivity in its new manifestation, as a culture of accepting and bringing about continuous achievements is an inescapable imperative. The increasing market-orientation and private sector development have thrown up a number of new challenges. An organization has to develop the ability to harness the creative energies of their own available workforce. The need of the time is to focus on creating and encouraging human capital. It is this pool of creative minds that will help in throwing up innovative ideas to help curb the recessionary tendencies.

Optimizing productivity has to emerge as a new national priority, where the efforts must be directed to raise the standards of living of our people. Our business organizations will have to improve their performance to ensure their survival and growth in a fiercely competitive world. This improvement will come about only if we focus on production of quality goods, in a cost effective manner and by generating enough surpluses to plough back into the business to further improve productivity. And this must occur continuously, to create an advantage in the market place. Productivity, thus, will have to become a mass movement and to be put on the national agenda.

The policy initiatives by counties like India and China have a vital role to play in these tough times because these countries are not only the two biggest markets but also have maintained a higher growth rate. Therefore, they will be key driver in the future development of the world economy. Concerted efforts will create the conditions for sustaining and continuing productivity improvement in various economic activities, values, beliefs, personality and the culture of any group, organization, or society.

Productivity shapes how people act, directing them to be smart or fast workers, individual or team players, agile entrepreneurs or sluggish bureaucrats. A productive nation must start with a “productivity mindset.” One of the key success factors of a productivity movement is the need to rally the people, change their mindset, harness their passion, hone their skills, and build them into a cohesive competitive team. The productivity movement therefore begins with people.

Every organization has its own distinctive approach towards development. Connecting these initiatives, there should be a commitment to enlarge the scope for new prosperity to expand prosperity and to create environment conducive to Productivity. Productivity may be the outcome of various practices, but eventually is the result of a mindset. Basic to this approach is the conviction that there is no limit to improvement. Even the best can be improved.

As we graduate further into knowledge era, traditional methods and principles may become increasingly ineffective and we will have to augment productivity both at micro as well as macro level to realize a global competitive edge.

Note:

• The author is the Director (M&C), Press Information Bureau, New Delhi.
• The views expressed by the author  in this feature are entirely his own and do not necessarily reflect the views of SME Times.