What Is Efficiency?
If your company is efficient, that means it is especially capable of producing desired results with little or no waste with very few resources.
- If you’re able to produce the same amount of work with less time and resources, you’re being more efficient.
- If you use more time and resources but produce the same amount of work as before, your performance is less efficient.
Therefore, efficiency is simply the quality and degree of effectiveness at which a company is being efficient.
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