Exactly. Even in a factory you could tell employees that this is what they need to produce for the week. If they can get it done in 2 days, then so be it. If they cannot meet standards, you can just reassign them to a different task or let them go. You could also pay more/less for those who produce more/less. Work just needs to not be tied to time.
That works great until there is some sort of supply chain - either you rely on someone else, or they rely on you. In that case having everyone working at the same time is probably more efficient.