1. performing or functioning effectively with the least waste of time and effort; competent; capable: an efficient secretary. 2. satisfactory and economical to use: a more efficient air conditioner. 3. producing an effect, as a cause; causative. 4. using a given product or resource with ma...
productive efficiency, distributive efficiency, andPareto efficiency. A state of economic efficiency is essentially theoretical; a limit that can be approached but never reached. Instead, economists look at the amount of loss, referred to as waste, between pure efficiency and reality to see how effi...
deceased is the preferred term in legal use. the estate of the deceased departed is used usually as a euphemism. our departed sister late is used especially with reference to a person in a specific relation or status. the company's late president Examples...
60% of project managers are juggling up to five different projects at any one time. Ouch! 😬 If that’s you, a work breakdown structure (WBS) is a great tool to help overcome complexity by breaking even the most cryptic projects down into bite-size chunks. Not only will a WBS help ...
Different Ways to Achieve Economies of Scope Real-world examples of the economy of scope can be seen inmergers and acquisitions (M&A), newly discovered uses of resource byproducts (such as crude petroleum), and when two producers agree to share the same factors of production. ...
Learn the definition of resource management, why it's important, and how to use key resource management techniques to run your business more profitably and efficiently.
Finding and using the appropriate channels helps get you closer to the enterprise's key markets. When you find and engage with your market on their chosen platforms and in their language and tone of voice, you have a higher chance of converting prospects into long-term customers. This is ...
Research potential vendors’ track record, customer support quality, and long-term viability. Read user reviews on software review websites like Trust Pilot and The Verge and forums like Reddit. Analyze the costs and ROI Look beyond the initial price tag. Consider the total cost of ownership, ...
Float. A calculated value/amount of time that a scheduled activity can be delayed without delaying the start date of any following activity. Resource allocation. Determining the resources needed for a project and the timeline for completing each project task that considers the availability of those ...
Seasonality is the recurring patterns of fluctuation in economic activity and market behavior. These patterns can occur over various time frames. For instance, short-term seasonality is like when a pub is probably busier on a Friday night than a Tuesday night. Long-term economic cycles can also...