- Gen Mgta situation in which an organization maximizes benefit and profit, while minimizing effort and expenditure. Maximization of business efficiency is a balance between two extremes. Managed correctly, it results in reduced costs, waste, and duplication. Max Weber, who developed the concept of the bureaucracy, believed that efficiency was the goal of all bureaucratic organizations, which were designed to run like smooth machines. The greater the efficiency, the more impersonal, rational, and emotionally detached a bureaucracy becomes. The flatter organizations more prevalent today attempt to be more customer-responsive than efficient in this sense, and the notion of such an ordered and impersonal efficiency has lost favor in an era when creativity and innovation are valued as a competitive advantage.
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Business efficiency — The efficiency ratio, a ratio that is typically applied to banks, in simple terms is defined as expenses as a percentage of revenue (expenses / revenue), with a few variations. A lower percentage is better since that means expenses are low and… … Wikipedia
business efficiency exhibition — /ˌbɪznɪs ɪ fɪʃ(ə)nsi eksɪˌbɪʃ(ə)n/ noun an exhibition which shows products such as computers and word processors which help businesses to be efficient … Marketing dictionary in english
Efficiency — Reflects the amount of wasted energy. The New York Times Financial Glossary * * * efficiency ef‧fi‧cien‧cy [ɪˈfɪʆnsi] noun [uncountable] MANUFACTURING 1. how well an industrial process, factory, or business works so that it produces as much as… … Financial and business terms
efficiency — Because of futures contracts standardization of terms, large numbers of traders from all walks of life may trade futures, thus allowing prices to be determined readily (it is more likely that someone will want a contract at any given price). The… … Financial and business terms
Efficiency — as a technical term may refer to: * Algorithmic efficiency, optimizing the speed and memory requirements of a computer program * Efficient energy use, useful work per quantity of energy ** Energy conversion efficiency, desired energy output per… … Wikipedia
Efficiency expert — may refer to:*Ergonomics expert *Business efficiency expert; see also, Layoffs * The Efficiency Expert , a 1921 novel by Edgar Rice Burroughsee also* Spotswood (film), US title The Efficiency Expert , Australian comedy film released in 1992 … Wikipedia
Business and Industry Review — ▪ 1999 Introduction Overview Annual Average Rates of Growth of Manufacturing Output, 1980 97, Table Pattern of Output, 1994 97, Table Index Numbers of Production, Employment, and Productivity in Manufacturing Industries, Table (For Annual… … Universalium
efficiency — /ɪ fɪʃ(ə)nsi/ noun the ability to work well or to produce the right result or the right work quickly ● a business efficiency exhibition ● The bus system is run with a high degree of efficiency. ● We called in an efficiency expert to report on… … Dictionary of banking and finance
efficiency ratio — Fin a way of measuring the proportion of operating revenues or fee income spent on overhead expenses. EXAMPLE Often identified with banking and financial sectors, the efficiency ratio indicates a management’s ability to keep overhead costs low.… … The ultimate business dictionary
efficiency — Gen Mgt the achievement of goals in an economic way. Efficiency involves seeking a good balance between economy in terms of resources such as time, money, space, or materials, and the achievement of an organization’s goals and objectives. A… … The ultimate business dictionary