How Entrepreneurs Can Hone Their Management Skills to Fuel Production

Productivity has become a national obsession. Countless books, articles, podcasts and videos promise the secrets to wringing a few extra minutes out of the workday or boosting organizational output. But, for all that talk, the United States hasn’t exactly been setting any productivity records.

After several years of meager growth, the U.S. Bureau of Labor Statistics reported a productivity decrease of 0.2 percent in 2016. For the first time since the global financial crisis of the late 2000s, production decreased for consumer goods such as cars and furniture.

The reasons for this drop remain unclear. Some experts suggest that the multifactor decline represents only one aspect of the economy. In their view, the rise of service-based businesses makes it difficult to get a full picture of American productivity. Others claim that a lack of investment in multifactor infrastructure is responsible for the change.

Most likely, several variables are affecting the measure. For one thing, the slowdown reflects a long trend of declining U.S. productivity, so the latest dip isn’t particularly alarming. The confusion over the cause, however, is a different story. Read more

Per Bylund - Entrepreneur - 25 Apr 2017