Posts Tagged“Efficiency”

Business 101: Top-notch ideas to Streamline Processes

In business, efficiency can be the difference between success and failure. When you run things efficiently, you minimize your overhead. Plus, you increase revenue generation. However, not all business owners know how to make their business efficient. No matter, it is a learnable skill. Core Concepts of Business Efficiency: 1. Running Your Business Efficiently Increases Your Profit Level 2. All Business Can Improve 3. You Can Learn How to Improve the Efficiency of a Business 1. Analyze All of Your Existing Processes and Workflow First, you need to take a close look at all the processes and workflows inside your…

Finding Balance to be Effective and Efficient in Business

(Image Credit: olegdudko / 123RF Stock Photo) Efficient and effective are two words that business people hear often, and many assume that they mean the same thing. While both words are adjectives and touch on similar concepts, they have entirely different meanings. A summary of the dictionary definition of effective is putting in effort that produces the expected results. The word efficient describes the ability to perform a task while wasting as little time and resources as possible. To summarize the distinction, effectiveness means doing things correctly while efficiency means doing correct things. Arguments in Favor of the Importance of…