Do you feel that a "library" or any company/ business is efficient when
they have the most outcome from what budget they may have? and how do you
measure when a business/ company is efficient?
when two parties agree on a deal, should the give and take be an immediate
result or can it be a long-term result and is that still an efficient
deal??
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3 comments:
That’s an interesting question, I guess it would have to be based on what type of deal the parties are dealing with. Efficiency is defined as performing or functioning in the best possible manner with the least waste of time and effort; being consistent. So if the give and take on a deal had an immediate result it would seem that it would be the most efficient because it wasted the least amount of time and was done quickly and both parties were satisfied. However if you look at the other side, if a deal is made for a long term result then it has to stay consistent and would benefit both parties for a longer period of time than the immediate deal, thus making the long term deal more efficient. Again it would have to depend on what type of deal the parties were dealing with, but I feel the long term result would ultimately benefit both parties more efficiently than the immediate one.
I believe a company that maximizes their output (results, income, benefits) by getting the most out of a given input (effort, expenditures, cost) is being efficient. Efficiency is getting "the most outcome from what budget they may have" with minimum waste, duplication, and expenditures of resources. You can measure the efficiency of a company by simply examining the ratio of input to output. A company then, with a low input and high output, would technically be considered efficient. Efficiency does not measure wether or not the company achieves customer satisfaction, yet by boosting customer satisfaction a company can likely increase efficiency.
Do you feel that a "library" or any company/ business is efficient when they have the most outcome from what budget they may have? and how do you measure when a business/ company is efficient?
I would have to say not necessarily. It all depends on the company's goals. Yes, one basic definition of efficiency is achieving an objective for the lowest cost, and generally that can be considered true, but not always. If the goal is to have the largest amount of books that your budget allows then that might be a good way to judge your library's efficiency. But thats not taking into account the quality or content of the books. How do you decide what books to get; new or old, fact or fiction, children's or adult's, books or videos/tapes? And on the flip-side, what if achieving your objective with the lowest cost defeats your objective completely; say providing jobs and getting money back into the community. I think to measure the efficiency of a company, cases must be taken on an individual basis and even on different levels within each company. A general library may be moderately efficient overall, but if they decided that they wanted to have an outstanding children's section and put most of their resources towards that, then they would probably be highly efficient in that part of their business.
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