Question

Efficiency is a measure of Multiple Choice the appropriateness of the goals that managers have selected for the organization to pursue. how productively resources are used to achieve a goal. the degree of novelty of innovation in products or production. how easily managers can alter the way they perform their activities to respond to actions of their competitors. the speed with which a manager responds to an unforeseen event in the organization.

Answer 1

Efficiency is a measure of B. how productively resources are used to achieve a goal.

What is Efficiency?

Efficiency measures the ratio of economic output to the total input of resources.

Mathematically, efficiency can be expressed as r = P/C, where:

• P = the amount of useful output
• C = the cost of resources consumed
• R = Efficiency.

Thus, Efficiency is a measure of B. how productively resources are used to achieve a goal.

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