Business efficiency is a measure of how well an organization is able to reach its goals and objectives with minimal resources. It’s the ability to use minimal inputs, such as capital and labor, in order to maximize outputs, like profit and customer satisfaction. A company that is efficient is able to operate at maximum capacity, producing high-quality products or services at competitive prices. In essence, it combines speed, quality, and cost-effectiveness into one measure of overall business performance. All organizations must strive for efficiency in order to remain competitive and profitable in today’s market.