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'''Efficiency''' is the ability to perform a task with a minimum expenditure of time and effort. |
'''Efficiency''' is the ability to perform a task with a minimum expenditure of time and effort. |
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| + | Efficiency in a management context means number of units of work completed per unit of time. Efficiency is usually used in a comparative statement such as " with the new machine we can produce 20 units per hour as compared to 5 units per hour with the old machine." |
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[[Category:Miscellaneous]] |
[[Category:Miscellaneous]] |
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[[Category:Definition]] |
[[Category:Definition]] |
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Revision as of 22:00, 29 January 2020
Definition
Efficiency is the ability to perform a task with a minimum expenditure of time and effort. Efficiency in a management context means number of units of work completed per unit of time. Efficiency is usually used in a comparative statement such as " with the new machine we can produce 20 units per hour as compared to 5 units per hour with the old machine."