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Question
What is meant by 'efficiency' in management?
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Solution
Management is a
dynamic process of getting things done by others with the aim of achieving
common goals effectively and efficiently. Efficiency in management means performing activities with the minimum wastage of resources which also refers to optimum utilization of resources so that the organisation can maximize the profit.
Efficiency in management means performing activities with the minimum wastage of resources which also refers to optimum utilization of resources so that the organisation can maximize the profit.
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