EFFICIENCY Definition Meaning | Dictionary. com the state or quality of being efficient, or able to accomplish something with the least waste of time and effort; competency in performance accomplishment of or ability to accomplish a job with a minimum expenditure of time and effort The assembly line increased industry's efficiency
How Efficiency Is Measured - Investopedia Efficiency means that an entity is operating at an optimum level of performance It is a measurable concept that can be determined by the ratio of useful output to total input
Efficiency - definition of efficiency by The Free Dictionary 1 the state or quality of being efficient 2 accomplishment of or ability to accomplish a job with a minimum expenditure of time and effort 3 the ratio of the work done by a machine to the energy supplied to it, usu expressed as a percentage 4 efficiency apartment
Efficiency - Econlib To economists, efficiency is a relationship between ends and means When we call a situation inefficient, we are claiming that we could achieve the desired ends with less means, or that the means employed could produce more of the ends desired…
What is Operational Efficiency? Strategies and Key Metrics to Improve Operational efficiency ratio: Calculated as operating expenses divided by total revenue, this ratio indicates the extent of efficiency in using resources relative to revenues generated A lower ratio signifies higher efficiency Cycle time: The duration required to complete a specific process or task Shorter cycle times often reflect more
Understand Energy Efficiency | Understand Energy Learning Hub Below are a few examples of energy efficiency For additional examples, refer to our energy efficiency fast facts Example 1: Pipe layouts that reduce friction In industry and buildings, moving fluids (e g , water) with pumps and pipes is a big source of energy demand Traditional designs have pipes at right angles, creating additional friction
Efficiency Definition Meaning | Britannica Dictionary EFFICIENCY meaning: 1 : the ability to do something or produce something without wasting materials, time, or energy the quality or degree of being efficient (technical); 2 : efficiency apartment