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.
Wiki User
∙ 16y ago
Add your answer:
Earn +20 pts
Advantage of using computer in modern business organisation?
improve efficiency , accuracy , and to reduce workload
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 does a business management consultant do?
Business management consultants analyse a company's plans and practices to find ways to improve their efficiency and productivity. These consultants develop new plans for a company that encompass any and every component of their business.
What is the function of a business credit application?
The function of a business credit application is to help manage and screen out potential customers who are seeking approval for loans and credit cards. This application helps increase efficiency.
What are financial influences in business?
Financial influences in business is the deregulation resulting in the opening up for the financial industry to much greater competition. Deregulation - Is the removal of government regulation from industry, which increases efficiency and improving competition. Bibliography: Business in action text book Preliminary Course
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.
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
When a business is using methods that help it use its time and resources the best they can what are they exercising?
efficiency
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 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.
Advantage of using computer in modern business organisation?
improve efficiency , accuracy , and to reduce workload
How did the progressives feel about the government?
Government should regulate business to eliminate corruption and improve efficiency.
