I am always amazed at what improvement potential there is for organisations, even profitable and well established ones. There is a perception that they are well down their "Lean" Journey, and that they have made significant improvements, whether it be through technology or process development. Organisations are rarely as well developed as they think they are, of course this breeds complacency. Maintaining the improvement "hunger" is a real challenge in large companies.
There are numerous definitions of productivity, and a significant proportion of them are related to a company's KPI's in some form or other. If we take manufacturing as an easy example, these can be visualised as kg/hr , £/month or RFT (Right first Time) if we cover the elements of production, sales and quality. All of these have a direct relationship with the bottom line, and the cost of product made. However KPI's are also important in the "transactional" environment such as the administration arm of a company, or in say financial services. Processing documents can be a significant proportion of any process, and errors or tardiness will also negatively effect the bottom line.
This is where an experienced coach/business consultant can help. Ones with significant industry experience in different sectors, can start to build connections on where the losses are.