Efficiency


Efficiency
Reflects the amount of wasted energy. The New York Times Financial Glossary

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efficiency ef‧fi‧cien‧cy [ɪˈfɪʆnsi] noun [uncountable] MANUFACTURING
1. how well an industrial process, factory, or business works so that it produces as much as possible from the time, money, and resources that are put into it:

• A successful business constantly strives for greater efficiency.

• The increase in profitability is the result of improved efficiency.

2. how well and quickly a person or machine works:

• He was impressed by the speed and efficiency of the Japanese trains.

• I had to admire his efficiency.

3. cost efficiency/​fuel efficiency etc when something costs as little as possible, uses as little fuel as possible etc:

• Auto makers will increase the fuel efficiency of their cars by 20% over the next five years.

ˌeconomic efˈficiency MANUFACTURING COMMERCE
the ability of a factory or process to produce goods cheaply so that they can be sold at a low price and still make a profit:

• Minor adjustments have been made to the system to improve its economic efficiency.

inˌdustrial efˈficiency MANUFACTURING COMMERCE
the ability of an industry to produce goods cheaply so that they can be sold at a low price and still make a profit:

• The result could be a more efficient use of resources in Japan, which would improve the country's industrial efficiency.

ˌtechnical efˈficiency MANUFACTURING
how well and quickly a machine produces high quality goods. When measuring the technical efficiency of a machine, the production costs are not considered important:

• Improvements in technical efficiency have led to a more streamlined manufacturing process.

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efficiency UK US /ɪˈfɪʃənsi/ noun
[U] a situation in which a person, company, factory, etc. uses resources such as time, materials, or labour well, without wasting any: »

The company is looking to shed around 1,000 jobs as part of an efficiency drive.

»

business/economic/operational efficiency

achieve/boost/improve efficiency »

The company invested substantial amounts of money upgrading the plant, and its workers agreed to flexible work rules that boosted efficiency.

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improved/increased/greater efficiency

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efficiency gains/improvements/savings

[U] a situation in which a person, system, or machine works well and quickly: improve/increase/maximize efficiency »

We are looking at ways to increase the efficiency of our advertising.

»

She does the job with great efficiency.

[C or U] PRODUCTION the difference between the amount of energy that is put into a machine in the form of fuel, effort, etc., and the amount that comes out of it: »

Burning wood on an open fire has efficiencies of only 15-20% compared to wood burning stoves, chip and pellet boilers with efficiencies of up to 80-90% .

efficiencies — Cf. efficiencies
Compare INEFFICIENCY(Cf. ↑inefficiency)
See also COST EFFICIENCY(Cf. ↑cost efficiency), ENERGY EFFICIENCY(Cf. ↑energy efficiency), FUEL EFFICIENCY(Cf. ↑fuel efficiency), INDUSTRIAL EFFICIENCY(Cf. ↑industrial efficiency), MARKET EFFICIENCY(Cf. ↑market efficiency), TECHNICAL EFFICIENCY(Cf. ↑technical efficiency), X-EFFICIENCY(Cf. ↑x-efficiency)

Financial and business terms. 2012.

Look at other dictionaries:

  • Efficiency — as a technical term may refer to: * Algorithmic efficiency, optimizing the speed and memory requirements of a computer program * Efficient energy use, useful work per quantity of energy ** Energy conversion efficiency, desired energy output per… …   Wikipedia

  • efficiency — apartment efficiency apartment n., a small apartment[4], sometimes furnished, with minimal kitchen and bath facilities. The unit may comprise a single room plus a bathroom, and the kitchen facilities are often open to the main room, or may form a …   The Collaborative International Dictionary of English

  • efficiency — 1590s, power to accomplish something, from L. efficientia (from efficientem; see EFFICIENT (Cf. efficient)) + CY (Cf. cy). In mechanics, ratio of useful work done to energy expended, from 1858. Attested from 1952 as short for efficiency apartment …   Etymology dictionary

  • Efficiency — relationship between the result achieved and the resources used (p. 3.2.15 ISO 9000:2005). Источник …   Словарь-справочник терминов нормативно-технической документации

  • efficiency — ► NOUN (pl. efficiencies) 1) the state or quality of being efficient. 2) an action intended to achieve efficiency …   English terms dictionary

  • efficiency — [e fish′ən sē, ifish′ən sē] n. pl. efficiencies [L efficientia: see EFFICIENT] 1. ability to produce a desired effect, product, etc. with a minimum of effort, expense, or waste; quality or fact of being efficient 2. the ratio of effective work to …   English World dictionary

  • efficiency — I noun ability, ableness, adeptness, adroitness, capability, capableness, command, competence, competency, deftness, dexterity, dexterousness, effectiveness, efficacy, efficientia, excellence, expertness, handiness, helpfulness, mastery, potency …   Law dictionary

  • efficiency — [n] adeptness, effectiveness ability, abundance, adaptability, address, adequacy, capability, capableness, competence, competency, completeness, economy, effectualness, efficacy, energy, expertise, facility, faculty, know how, performance,… …   New thesaurus

  • efficiency — Because of futures contracts standardization of terms, large numbers of traders from all walks of life may trade futures, thus allowing prices to be determined readily (it is more likely that someone will want a contract at any given price). The… …   Financial and business terms

  • efficiency — noun ADJECTIVE ▪ ruthless ▪ great, high ▪ attempts to achieve greater efficiency in the production process ▪ improved, increased ▪ …   Collocations dictionary


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