Word: outputs
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Dates: during 1970-1979
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Price rises will slow down if America can get a larger output of goods and services from the same input of labor, capital and energy. Searching for ways to do so, Grayson, 54, a hyperproductive fellow who gets up at 4:30 a.m., started the nonprofit American Productivity Center at Houston. In all, 125 companies have kicked in their support, and every time Grayson gets a check in the mail, he gleefully clangs a bronze bell hanging in his office. At their center, which has few walls and many open doors, he and a small staff try to discover what...
...philosopher Satchel Paige might have said, the U.S. shouldn't look back: other countries are gaining on its lead in productivity. In the past decade, U.S. output per hour worked in manufacturing has risen only 27%, exactly the same as anemic Britain's, much less than half as much as that of robust France, West Germany and even Italy, and only one-quarter as much as Japan...
...raise productivity, Grayson argues, is for companies to give everybody the three R's: recognition, responsibility and rewards. Recognition in the form of plaques and photos on the wall, company dinners and other visible backpats for imaginative, high-output workers. Responsibility through allowing individual initiative to ride high, including breaking up long production lines and impersonal offices into teams of workers who choose their own leaders and decide for themselves how to get the job done. Rewards by means of bonuses of cash or time off-or both...
...making an all-out effort to sell natural gas legislation that would allow the companies to raise prices and profits. Economically, in the first three months of this year, the Sisters sold 38% of all the oil moving in world trade, about as large a proportion as ever. Rising output from Alaska, the North Sea and the Gulf of Mexico, where they dominate drilling, might even increase their future share. The new production, combined with a slowdown in consumption, has put off the day when the world will start running out of oil to the 1990s, or the early 21st...
TEXACO is currently a weak Sister. In 1977 its profits rose 7%, to $931 million, but in the first half of this year they plunged 28%. Domestically, Texaco stayed far too long with its Louisiana oilfields, where output is now dropping sharply, and overseas it has put too much of its money into Indonesia, where new finds are inadequate to replace the oil being lifted. It missed out on the choicest North Sea tracts, and must now spend enormous sums to develop fields less promising than those tapped by others. It has been drilling wells in Alaska...