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Electronics Production | September 09, 2008

Improvement of productivity & quality bring success, says CEO of Elcoteq Tallinn

The latest discussions in Estonia about improving competitiveness by decreasing salaries, focus mainly on one aspect of a business strategy, states Heikki Mäki, CEO of Elcoteq Tallinn, in an interview column for bbn.
The competitiveness is a result of total cost of ownership (TCO) and this is comprised of three variables: cost base, quality and productivity. However public discussions have solely been focussed on the first part. While the reduction of cost most definitely will improve the TCO result, other measures will be a long-term improvement, the CEO states.

“The main reason for uncompetitive business is quality and productivity, where Estonian business is far behind world class level. Estonian salaries, when taking into account the total salary costs, are still very competitive within the EU”, Mr Mäki continues in saying. He states that the only way to improve the overall situation is to put more resources into increasing productivity and improving quality to exceed the standards laid out by the competition.
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November 14 2018 11:24 am V11.8.1-1