Most developed countries have experienced lower rates of productivity development since the great recession - and nobody seems to know why.
It does seem as though these low growth rates might be with us for some time.
For any one country, this means that the key is to simply have a higher growth rate than your near competitors - and stop worrying about the absolute figure.
Low productivity growth can still create a successful economy - and actually helps employment levels.
This is just as true for businesses. What matters is not your absolute performance - but your performance relative to your main competitors. Keep your eye on them, anticipate their moves - and keep one step ahead.
Accept reality and the art of the possible- and work within it.
It does seem as though these low growth rates might be with us for some time.
For any one country, this means that the key is to simply have a higher growth rate than your near competitors - and stop worrying about the absolute figure.
Low productivity growth can still create a successful economy - and actually helps employment levels.
This is just as true for businesses. What matters is not your absolute performance - but your performance relative to your main competitors. Keep your eye on them, anticipate their moves - and keep one step ahead.
Accept reality and the art of the possible- and work within it.
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