ENTREPRENEURIAL PLANNING
OPERATIONS PLANNING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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a firm’s ability to minimize costs.
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a firm’s ability to turn inputs into outputs
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the ability of a firm to meet its objectives by using inputs productively to meet the needs of customers
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a firm’s ability to reduce its labour needs
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Detailed explanation-1: -The term efficiency can be defined as the ability to achieve an end goal with little to no waste, effort, or energy. Being efficient means you can achieve your results by putting the resources you have in the best way possible. Put simply, something is efficient if nothing is wasted and all processes are optimized.
Detailed explanation-2: -Efficiency can be defined as the amount of resources used to produce a product or service. To perform effectively, all managers must possess conceptual, human, and technical skills, although the degree of each skill that is required at different levels of an organization may vary.
Detailed explanation-3: -1-Create a culture of care. 2-Surveys. 3-Enhance your USP. 4-Create buyer personas. 5-Map your customer journey. 6-Pay attention to your competition. 7-Maintain regular communication. 19-Sept-2022