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Business efficiency – refers to the ability of a business to use its resources (such as time, money, labour, and technology) effectively and efficiently in order to maximise output and minimise waste. This can be achieved by streamlining processes, reducing costs, increasing productivity, and improving the quality of goods or services provided by the business. In other words, business efficiency involves achieving more with less, and it is often measured in terms of the ratio of output to input, or the amount of resources used to produce a given level of output.

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