Efficiency Essay Samples and Topic Ideas
efficiency ratio which shows how efficiently a firm operates on the premise of the number of sales or business that are generated. The asset turnover concept is represented by a ratio which is percentage form computed as net sales divided by the total value of assets as indicated in the balance sheet or statement of a company’s financial position. The asset turnover ratio is represented by each dollar any other unit currency as a measure of the assets and the subsequent resulting change in sales value. It must be noted that the net sales referred to are the sales excluding the refunds or sales returns that may be offered by a business. The net assets may be the total assets or the average assets...
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- Pages: 1
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efficiency as computers tend to process information faster as compared to the human brain regarding calculations. Literacy in the current setting of nursing as reported by Saunders, Hannele, and Katri (128-140) is more characterized by the use of information technology such as the use of evidence-based research. Unlike in the past where the interviewee indicated that much of the activities at work were done manually. This involved keeping of the various health records from patients. However, storing information in files became a problem due to displacement as well as fading away of handwritten information. This rendered most of the data useless. By incorporating technology, the interviewee suggested...
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efficiency in generating higher sales in year 2016. As it is the case, lower turnover ratio signals inefficiency in using assets to optimality. Profit margin is a profitability ratio that measures the relationship between the company’s revenue and the net profit. This is important as it shows the company’s profitability. The profit margin for Hubspot Inc. is (16.81) for year 2016 whereas year 2015 was (25.31). Though the company recorded a negative profit margin, the profit margin increased in year 2016 which shows growing profitability of the firm into the future. The Return on assets of the firm for year 2016 was (18.98) whereas that of year 2015 was (23.30). This shows that the...
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efficiency improvements in an industry using six-sigma includes identifying and removing any non-value-added waste within the system without destroying the product or the service value. References Garza-Reyes, J. A. (2015). Green lean and the need for Six Sigma. International Journal of Lean Six Sigma, 6(3),...
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efficiency and performance (Cummings & Worley, 2014). This theory has various concepts. One might wonder whether the ideas in organizational development theory are applied in the modern healthcare facilities. Some of these thoughts are discussed below. Organizational identity; organizational development theory recommends that each organization should have a unique identity that distinguishes it from other players in the sector. This can come in the form of the organization structure or by having a set of values, vision, and mission (Boss, 1989). The implementation of this concept has been slow in the most healthcare organizations. Though it can be said that some have passed on values to the...
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efficiency, supervision, employee development, legal compliance, accountability, and conflicts of interests. Therefore, the organization should document the mentioned principles. Further, the organization must develop a set of service level agreements, which define services that will be provided by the organization. It is also crucial for the Mad Hatters Digital Forensics Laboratory to define how it will operate without the undue influence of customers and other interested parties. Watson and Andrew (28-33) further discuss additional elements of terms of reference document. For instance, the authors insinuate that documenting the code of conduct could aid employees in the organization because every...
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efficiency. Thirdly the third party reduces the cost building a network encouraging saving a lot from the less cost. Firms use different decision criteria to choose a third-party logistics company to work with. First, there is vetting of the third party logistics company on its specialization, capabilities, and ability to customize solutions to meet their requirement (Thuermer, 2016). Secondly, Collaboration of the third party company is necessary to build trust and is a key to establishing the best practices. Reference Thuermer, K. E. (2016). How to choose a logistics partner. Food Logistics, (180),...
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efficiency of the current HR plan, hence plan for any required adjustments. On the flipside, benchmarking if not used properly may have short-lived benefits, needless mention the loss of time and money invested. This is likely to happen when organizations emulate others instead of enhancing their performance. In this respect, Zhang & Fan (2009) argue that the information sought after should be analyzed critically as opposed to applying raw information. In other words, benchmarking is not just about copying. Having said this, when selecting an organization for benchmarking it is recommended to select organizations that are closely related to your organization with regards to size, business...
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