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Five Leadership Lessons that will Help you Boost Productivity

May 13, 2018 • LEADERSHIP, TECHNOLOGY, Business Process, Digital Transformation, Emerging Ideas, Internet of Things

By Deborah Sherry

Today, businesses are presented with a plethora of opportunities arising from digital transformation. However, not all business leaders know how they can turn such opportunities into tangible value for their organisation. The lingering challenge is how they can drive successful digital transformation strategies to improve productivity and ensure business growth.

 

Increasing productivity can create accelerated growth and profit for businesses. And it also drives economic growth, which in turn creates new jobs and improves living standards. The IMF estimates that GDP in advanced economies would be about five percent higher today if the pre-crisis productivity growth trend had continued. However, a recent IMF report revealed that productivity in developed economies has declined dramatically since the economic crisis and remains sluggish, with political instability, global trade decline and the slow pace of technology innovation being cited as the key factors contributing to the poor results. And while businesses have no control over the geo-political environment, they can control technology deployment in their own facilities and this is where the big opportunity lies.

Our own estimates suggest that digital technologies will deliver $8.6 trillion in productivity gains in the industrial world over the next decade. These innovations promise to bring greater speed and efficiency to industries as diverse as aviation, rail, power generation, oil and gas development, and healthcare delivery. They hold the promise of stronger economic growth, better and more jobs, and higher living standards.

But how can business leaders drive successful digital transformation strategies to improve productivity and ensure business growth?



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About the Author

Deborah Sherry is the Senior Vice President and Chief Commercial Officer of GE Digital in Europe. Her division delivers cloud-based solutions that connect industry, transforming industrial businesses into digital industrial businesses. Prior to joining GE, Deborah has had experiences with companies such as Google, France Telecom Group (now Orange), Samsung, and Citibank in London. She holds an MBA from the London Business School, an MA (Hons) Law from Oxford University and a BA from Columbia University. She is a strong supporter of diversity, promoting equality for women and the LGBT community.

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