Victor Leung
Victor Leung
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Strive for efficiency and economy

July 11, 2021

Because our society strives for efficiency and economy, you have the opportunity to read about my essay. As our country's productivity improves, we will be able to devote more time to our hobbies. Otherwise, instead of enjoying the luxury of writing this essay, you would spend most of your time hunting and farming to provide food for survival.

Our culture has evolved from rural tribes to a contemporary metropolis, from farming to manufacturing and steam train to high-speed rail. The constant consciousness of change and development caused the shift in economic, social and political thinking and structure. We are a global economic powerhouse known for the efficiency of our production and the high quality of our products. The miracle of economic growth results from people's hard work and a stable financial, property-legal, and capitalization system. We would still be poor and struggling to live a better life if we had no new ideas as a foundation and infrastructure.

As a result, we should contribute to society by increasing our production. As a leader, we could make meetings more efficient and productive. We need to examine appointments that are truly necessary and which meetings are unnecessary. Meeting duration was often a question of organizational or personal habit or both, so we should look at it seriously. We could go over the normal meeting times again and see if there are any ways to cut them down. This can help your team be more efficient. We can reduce meetings from sixty minutes to thirty minutes, freeing up 30 minutes for more productive work.

Besides, we shouldn’t only look at productivity for the sake of it; we'll also look at the economy. Even if you have the highest production, it's a waste if there isn't a large enough market for what you sell. Imagine being the most efficient seven-finger glove maker in the world. You wouldn't be able to get very far. Before we can optimize, we must first make the most important decision: what business to be in at the macroeconomic level.

Individually, we know we are working harder, but more effort does not equal a healthy economy. This comparison is not always linked; instead, we should concentrate on productivity growth, particularly in industrialized economies. South Korean workers, for example, put in many hours per year at work, compared to workers in France, who put in one-third fewer hours but generate twice the Gross Domestic Product (GDP) per hour. Spain, the United Kingdom, Japan, and other industrialized economies are in a slump. Even if labour markets recover more strongly than expected, the increases in employment are likely to be offset by slower labour productivity growth, giving GDP growth a minor boost.

Furthermore, today's smartphone users check their phones frequently throughout the day, averaging two hours a day simply opening and closing the phone. A single text message takes only a few seconds to read and can treble the number of errors made on critical activities. Worse, workers report that getting back into the flow of previous duties took an average of a few minutes. Our phones have evolved into compulsions rather than productivity tools.

The negative effects of distraction on productivity may outweigh the benefits of increased efficiency in the long run. We're fighting an attention economy where advertising is rewarded for diverting our attention. I'm guilty of continually checking my phone for messages, alerts, or calls when online. I'm going to turn off my phone to focus on excellent work, like writing this article.

We could put our resources and energy to better use and generate real wealth. If the information from a Facebook post will be obsolete by the time we're ready to utilize it, we'll do ourselves a favour and stop looking for it on a social networking app.

Furthermore, as a leader, our productivity is sometimes overshadowed by the production of the entire team. This trend frequently entails us paying the cost of communication overhead. We could represent the team and communicate instead of wasting everyone's time.

Meetings and debates in the organization had become increasingly lengthy over time, while decision-making had become increasingly difficult. Many organisation members had been attending meetings for years, and everyone could see that something was seriously wrong. Although most of them were bored, not a single employee was willing to speak up and point out what the others already knew but lacked the courage to say openly. Not only were the meetings draining everyone's energy, but they also took up most of the morning. Collaboration was the most important factor, and I could make my meetings more productive. By just specifying agenda things ahead of time, we could suffer less and be more effective.

We don't always have a choice about how busy we are. If we choose to take on new obligations, we must ensure that we take this for the right reasons. The issue is that we occasionally overcommit to things for the wrong reasons: not because we are enthusiastic about something or believe in it, but because our superiors have requested us to do so. It wasn't a question of whether or not we liked it. As a result, we had to sacrifice our productivity, creativity, and enjoyment. Instead, by streamlining our life, we might strive for efficiency and economy. Occasionally, commit to accomplishing less rather than more.

Sometimes, I spend a lot of time reading books and learning new things, but if I did not study with the correct strategy, it would be a waste of time as I may already forget most of the knowledge. It is unproductive learning if we learn something new but do not achieve a satisfactory result. We need to assimilate, integrate, and apply new information to convey it to others in simple words and study well.

We could track my progress in a study using output rather than input. Instead of counting how many hours we spend passively reading books, it's more crucial to assess how many new problems we can solve with our new knowledge. The ultimate goal of efficiency improvement is to achieve results.

About Victor Leung

Software development professional with expertise in application architecture, cloud solutions deployment, and financial products development. Possess a Master's degree in Computer Science and an MBA in Finance. Highly skilled in AWS (Certified Solutions Architect, Developer and SysOps Administrator), GCP (Professional Cloud Architect), Microsoft Azure, Kubernetes(CKA, CKAD, CKS, KCNA), and Scrum(PSM, PSPO) methodologies.

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