answersLogoWhite

0

Also known as productivity, efficiency is measured by most corporations, sole-ownerships, and partnerships by how much of a product/service is completed per employee, per hour. In business terms, many familiar sounding words actually have concrete and measurable meanings, so be careful to not use them too vaguely.

User Avatar

Wiki User

17y ago

What else can I help you with?

Related Questions

How can the term business efficiency be explained?

In business efficiency is achieving the goal with least amount of resource consumption. Productivity and effectiveness are calculated by using an efficiency comparison.


To what extent is HR management able to improve the efficiency of a business?

To what extent is Human Resource Management able to improve the efficiency of the business.


When a business is using methods that help it use its time and resources the best they can what are they exercising?

efficiency


How could one define operational efficiency?

Operational efficiency can be defined as the ratio between the input to run a business operation and the output gained from the business. When improving operation efficiency, the output to input ratio improves.


How does technology improve business?

it improves the efficiency of a business because more work is being done


What are the benefits of metrication?

business can improve production efficiency and cut cost. ;D


List ways in which office equipment contributes to efficiency in business?

by getting things done


What is joint expenditures?

this is the type of expenditures joined together to ensure a maximum efficiency in the business


What impact of technology advancement on business communication?

The impact of technology advancement on business communication can be felt and witnessed in the modern forms of communication. It has improved the speed and efficiency of business communication.


How do you answer 'Is creativity or efficiency more important' in a job interview?

Both are important. Since generating income or profit is essential to a business concern efficiency is paramount. However, if a company fails to be creative and innovative efficiency will eventually be diminished.


What is an appropriate business evaluation software for a retail business?

There is a program out there called Downtown Market Analysis. This program will evaluate your retail business or otherwise on many different topics. For example, the overall efficiency of your business will be evaluated.


What is the use of BPM (Business Process Management) in improving organizational efficiency and productivity?

Business Process Management (BPM) is used to streamline and optimize the way organizations carry out their operations. By identifying, analyzing, and improving business processes, BPM helps in increasing efficiency, reducing costs, and enhancing productivity within an organization.