Efficiency

Efficiency is a measure of how well something uses resources to achieve a goal or perform a task. It is typically defined as the ratio of useful output to total input, such as the amount of work done compared to the energy or time expended. In various contexts like business operations, manufacturing, energy use, or personal productivity, efficiency is concerned with minimizing waste, reducing costs, and optimizing processes to get the most out of available resources. Unlike effectiveness, which focuses on achieving the end result, efficiency is more about how economically the results are achieved. High efficiency means accomplishing a task or achieving a goal by using the least possible amount of resources, such as time, money, materials, and labor. It is a key factor in productivity and competitiveness in both individual and organizational performance.