I've reflected upon this recently.

Wouldn't a traditional company also benefit from using the same or similar tools for managing work as software companies? (mostly a rethorical question)

A lot of white collar workplaces have their homebrew Excel workbooks to keep track of tasks and a lot of meetings that fill up everyone's time in order to organize activities, leaving little time for the actual work to be done.

Sure but that's daily grind boring stuff that doesn't improve your skills very much and doesn't instill confidence in the long-term future of the company.

That's essentially lack of leadership.

It isn't just the ability to see what needs to be done, or the desire to put in extra effort or risk. When the individual sees no additional benefit for the risk they will not partake in the activity. It is precisely because the worker isn't compensated for working harder or more efficiently that they don't.

I have worked on plenty of projects that are time critical where compensation scales with the quality of the output. Think a theater performance or catered event. Time on clock matters, but completing the project faster and with a higher quality benefits ALL parties involved via profit sharing. The owners of capital want to pay based on time because they want a higher payout.