Abstract
This chapter is concerned with how to apply the concepts of economic efficiency and effectiveness in practice. Various areas of activity are discussed—procurement , transport, inventory management , manufacturing, administration and marketing—and in each case ways in which business entities can carry out the activities in an economically efficient way are described, and the appropriate tools are presented. The chapter additionally pays particular attention to the ecological environment and describes the circular economy , an approach to doing business that makes the production and consumption of goods part of a cycle.
The rational thing about man is the insights that he has.
The irrational thing about man is that he does not act according to them.
Friedrich Dürrenmatt (1921–1990)
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Eichhorn, P., Towers, I. (2018). Economic Efficiency in Practice. In: Principles of Management. Springer Texts in Business and Economics. Springer, Cham. https://doi.org/10.1007/978-3-319-70902-4_8
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DOI: https://doi.org/10.1007/978-3-319-70902-4_8
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Publisher Name: Springer, Cham
Print ISBN: 978-3-319-70901-7
Online ISBN: 978-3-319-70902-4
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