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What is meant by efficiency of …

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What is meant by efficiency of management?

Posted by Madhu Singh 7 years ago

CBSE > Class 12 > Business Studies

3 answers

Neeraj Chaudhary 7 years ago

answer for 3 to 5 marks efficiency means doing the task correctly with minimum resources as management is concerned with the efficient use of resources , because they reduce costs and ultimately lead to higher profit. efficiency can be increased if, ~ by using less inputs such as money , materials, equipments and persons , more output is produced; or ~ for the same output , fewer resources are used and less costs are incurred.

Madhu Singh 7 years ago

Can you explain it for 3-5 marks and thanks for answer. ??

Hardik Saxena 7 years ago

It means completion of work with minimum cost.

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