These two terms are often used interchangeably - but they are different.  Here I am not concerned with technical differences - but with philosophical or attitudinal differences. Organisations that pride themselves on being efficient usually strive to achieve the same performance with fewer resources - doing the same with less. Conversely, organisations that aim to

No-one is quite sure why the UK voted to leave the EU - but a recent study into the habits of 500 SMEs (small and medium enterprises), commissioned by online printing company instantprint, revealed that dealing with HR compliance forms, pension paperwork and health and safety regulations eats up an average of ten hours of the

India is held up as the latest 'economic miracle' - transforming its economy over the last 20 years.  It is often suggested that success is down to 'hard' factors - such as technical ability, capital investment - and, of course, cheap labour. But India has recognised the importance of 'softer' skills ands factors - such

I talked last week about AI - posing the question whether this is the next big technological driver of productivity improvement. Of course, some people are really worried about AI - and its effects on jobs, suggesting that most jobs in time can and will be replaced by some form of automation. However, before that

Technological innovation can drive massive productivity gains - but it is some time since we have had innovations of the size of those in the 1970s and 1980s - when the PC first hit desktops - and 'productivity software' followed. Now industry waits for the next major impetus  - and governments hope we might get

The world needs to improve productivity - if we are to raise living standards, feed the world and avoid water and fuel shortages. Yet, governments seem unable to do this - productivity has been at best sluggish over the last 10 years. Some governments - rightly - see a link between innovation and productivity -

GDP per hour worked is the normal way in which we measure - and compare - national productivity. This is at best a 'blunt instrument'.  There are so many factors that affect GDP besides productivity. So, when you read that, say, UK productivity is low compared to another country - take the information with 'a pinch

The productivity of Germany and France (GDP per hour worked) is strong - and almost identical ... even though Germany is normally regarded as a strong economy and France as a weak one. Perhaps the 'social models' that exist in much of European industry have some merit - and the UK might be better to

We've all seen technology completely disrupt certain industries - photographic film, film cameras, music recording, etc. Sometimes what emerges from this process of disruption is a changed but equally strong industry; but sometimes the disruption is so great and over such a long period that the former industry dies but the new one takes a

Donald Trump aims to 'make America great again' by re-patriating manufacturing and putting Americans back to work. Laudable aims - but practical? The second can't happen without the former .... but if he does succeed in bringing outsourced manufacturing back onshore, in the  short term at least, the US is likely to need more labour