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Efficiency in a company or organization is the ability to produce using the least input. The input may be in the form of energy, money, time and other various raw materials in a company. The produce is referred to as the output. Therefore efficiency is fully described as, the ability to maximize output with less amount of input. With efficiency, a company is expected to use the limited recourses to maximize their production. Efficiency ensures that the output is achieved in the best and cheapest way.