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Increasing productivity in global firms: The CEO challenge

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  • Mefford, Robert N.
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    Abstract

    In a highly competitive environment global firms face the challenge of increasing productivity to compete with firms sourcing production in low-wage developing countries. This paper presents a new paradigm of production which provides a solution to the productivity challenge. The new paradigm is both a philosophy of management and a set of methods that draw upon the experiences of firms employing quality management and lean production. This approach has proven to yield substantial gains in quality, productivity, and competitiveness. The methods and the requirements to successfully implement it are discussed. How to transplant these systems to developing countries is also considered. The role of the CEO in successful implementation of the New Productivity Paradigm is discussed in the final section.

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    Bibliographic Info

    Article provided by Elsevier in its journal Journal of International Management.

    Volume (Year): 15 (2009)
    Issue (Month): 3 (September)
    Pages: 262-272

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    Handle: RePEc:eee:intman:v:15:y:2009:i:3:p:262-272

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    Related research

    Keywords: Productivity Lean production Quality Competitiveness New productivity paradigm Technology transfer;

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    1. Dale W. Jorgenson & Kevin J. Stiroh, 2000. "Raising the Speed Limit: US Economic Growth in the Information Age," OECD Economics Department Working Papers 261, OECD Publishing.
    2. Feldstein, Martin, 2008. "Did Wages Reflect Growth in Productivity?," Scholarly Articles 2794832, Harvard University Department of Economics.
    3. Dale W. Jorgenson & Mun S. Ho & Kevin J. Stiroh, 2008. "A Retrospective Look at the U.S. Productivity Growth Resurgence," Journal of Economic Perspectives, American Economic Association, vol. 22(1), pages 3-24, Winter.
    4. Martin N. Baily, 2004. "Recent productivity growth: the role of information technology and other innovations," Economic Review, Federal Reserve Bank of San Francisco, pages 35-42.
    5. Feldstein, Martin, 2008. "Did wages reflect growth in productivity?," Journal of Policy Modeling, Elsevier, vol. 30(4), pages 591-594.
    6. Baumol William J. & Litan Robert E & Schramm Carl J, 2007. "Sustaining Entrepreneurial Capitalism," Capitalism and Society, De Gruyter, vol. 2(2), pages 1-38, November.
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