Difference between revisions of "Operational Efficiency"
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| − | '''Operational Efficiency''' is the [[Metrics|metric]] that measures the efficiency of profit earned by an Organization as a function of its operating costs. The higher the operational efficiency, the more profitable the [[Organization]]. Operational Efficiency is the key to fully maximize profit and boost the bottom line. There are concrete steps and [[Best Practice|best practices]] that a company can put in place to streamline operations and make sure they don’t leak percentage points in margin during the finacial year. Many companies rely on formalized metrics such as [[Key Performance Indicator (KPI)|KPIs]], scorecard-like [[SWOT Analysis|SWOT analysis]] and [[Project Management|project-management]] frameworks such as [[ITIL (Information Technology Infrastructure Library)|ITIL]]. | + | '''Operational [[Efficiency]]''' is the [[Metrics|metric]] that measures the efficiency of [[profit]] earned by an Organization as a function of its operating costs. The higher the operational efficiency, the more profitable the [[Organization]]. Operational Efficiency is the key to fully maximize profit and boost the bottom line. There are concrete steps and [[Best Practice|best practices]] that a company can put in place to streamline operations and make sure they don’t leak percentage points in [[margin]] during the finacial year. Many companies rely on formalized [[metrics]] such as [[Key Performance Indicator (KPI)|KPIs]], scorecard-like [[SWOT Analysis|SWOT analysis]] and [[Project Management|project-management]] frameworks such as [[ITIL (Information Technology Infrastructure Library)|ITIL]]. |
Revision as of 17:23, 6 February 2021
Operational Efficiency is the metric that measures the efficiency of profit earned by an Organization as a function of its operating costs. The higher the operational efficiency, the more profitable the Organization. Operational Efficiency is the key to fully maximize profit and boost the bottom line. There are concrete steps and best practices that a company can put in place to streamline operations and make sure they don’t leak percentage points in margin during the finacial year. Many companies rely on formalized metrics such as KPIs, scorecard-like SWOT analysis and project-management frameworks such as ITIL.