efficiency

Definition

Comparison of what is actually produced or performed with what can be achieved with the same consumption of resources (money, time, labor, etc.). It is an important factor in determination of productivity. See also effectiveness.

Popular 'Entrepreneurship, Management, & Small Business' Terms

efficiency in the news

Loading...

This content can be found on the following page:

http://www.businessdictionary.com/definition/efficiency.html

Search for another term



Tools

efficiency is...

... in the Entrepreneurship, Management, & Small Business, HR, Teams, & Training and Industries, Manufacturing, & Technology subjects.

Nearby Terms

Browse by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z