I got this email from the team at Deloitte today, there’s some truth in it, but it seems to me it’s very difficult to know when there are too many rules vs not enough.
I prefer to operate on principles, they make for better decisions I believe but perhaps not so quickly. Nonetheless, excess rules create excess bureaucracy and I don’t know anyone who, in a game of similars, would put productivity and bureaucracy together. Enjoy.
Australia | Building the Lucky Country
Dear PaulThank you for registering to receive Deloitte’s Get out of your own way: Unleashing productivity, the fourth report in our Building the Lucky Country series of reports. We are pleased to share this link to the full document with you.Australia is a lucky country. But we have a problem – and its colour is red. That’s right: the biggest single drag on our productivity is self-imposed red tape and overzealous rulemaking. It costs the economy $250 billion a year and it crushes our productivity gains.The good news is that we can do much better. There’s a rich source of efficiency savings we can tap into by setting better rules for ourselves. And this bucket of productivity potential is much bigger than most people realise.To be clear, rules are important – but we need fewer of them. By unburdening Australian businesses from their own bureaucracy and self-imposed rules, regulations, processes and procedures, we can help generate future growth and prosperity for all of us.
Our report identifies practical ways to help Australian businesses build cultures of performance rather than compliance. It includes the actions that businesses and governments can take to get out of their own way and unleash productivity in their organisations – and ultimately, in Australia.