Abstract
The article argues that efficiency is a function of customer-perceived value and productivity. Large areas of management decision making equate to a planned economy, because managers have to buy products and services from other parts of their own organizations. High levels of integration, as seen in many public sector businesses, tend to lead to inefficiencies. The growth of new methods, such as total quality management, business process re-engineering, benchmarking, etc, all aim at promoting efficiency.
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