Economic Efficiency in Practice

Peter Eichhorn and Ian Towers
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Peter Eichhorn: OPINIO Forschungsinstitut
Ian Towers: SRH Hochschule Berlin

Chapter 8 in Principles of Management, 2018, pp 243-262 from Springer

Abstract: Abstract This chapter is concerned with how to apply the concepts of economic efficiencyEconomic efficiency and effectiveness in practice. Various areas of activity are discussed—procurementProcurement , transport, inventory managementInventory 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 economyCircular economy , an approach to doing business that makes the production and consumption of goods part of a cycle.

Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sptchp:978-3-319-70902-4_8

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DOI: 10.1007/978-3-319-70902-4_8

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