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Best of: How Scandinavia cracked the productivity puzzle

Jun 4, 2024

Exploring productivity challenges in the UK and learning from Scandinavian and Japanese economies. Contrasting work cultures, communication dynamics, and the impact of external advice on productivity. Insights on stagnant wages, work-life balance, and consensus-building in decision-making processes.

18:11

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Quick takeaways

UK managers reluctant to seek outside help impact productivity.

Cultural factors affect productivity, highlighting the importance of clear communication and adaptability.

Deep dives

Productivity Challenges in the UK

The UK faces productivity challenges compared to countries like Norway and the US. Despite efforts to boost productivity, the UK lags behind its peers. Andrew Hill highlights the UK's struggle with productivity, especially since the financial crisis. One issue identified is the reluctance of corporate leaders to seek outside help, impacting the country's performance and predictive abilities.

Introduction

2min

Productivity Discrepancies in the UK Post-Financial Crisis

4min

Unraveling the Productivity Mystery

6min

Comparing Productivity Approaches in Nordic, Japanese, and UK Businesses

4min

Communication Dynamics and Productivity Reflections in Japanese Companies

3min

The UK has a well-reported productivity problem, with mediocre managers, poor communication and chronic underinvestment all hampering growth. What can Britain glean from Norway, Sweden and Denmark, all of which have more productive economies? And what lessons can be learned from Japan, the only major developed economy that is less productive than the UK? Host Isabel Berwick speaks to FT senior business writer Andrew Hill to find out what ails Britain. Later, she chats to Leo Lewis, the FT’s Asia business editor, and Richard Milne, Nordic and Baltic bureau chief, to learn how the UK could perform better (or worse…) This is a repeat of an episode published at the end of October, 2023.

Want more? Free links:

Why productivity is so weak at UK companies

The UK is doing a shoddy job of keeping up with the neighbours

Sweden is navigating an international identity crisis

Lessons from Japan: High-income countries have common problems

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Presented by Isabel Berwick, produced by Mischa Frankl-Duval, mixed by Simon Panayi. The executive producer is Manuela Saragosa. Cheryl Brumley is the FT’s head of audio.

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Working It

Best of: How Scandinavia cracked the productivity puzzle

Podcast summary created with Snipd AI

Quick takeaways

Deep dives

Productivity Challenges in the UK

Cultural Factors and Communication

Lessons from Nordic and Japanese Productivity Models

Remember Everything You Learn from Podcasts