business efficiency

Gen Mgt
a 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.

The ultimate business dictionary. 2015.

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