Efficiency in the context of "Continual improvement process"

In microeconomics, economic efficiency, depending on the context, is usually one of the following two related concepts:

• Allocative or Pareto efficiency: any changes made to assist one person would harm another.
• Productive efficiency: no additional output of one good can be obtained without decreasing the output of another good, and production proceeds at the lowest possible average total cost.

These definitions are not equivalent: a market or other economic system may be allocatively but not productively efficient, or productively but not allocatively efficient. There are also other definitions and measures. All characterizations of economic efficiency are encompassed by the more general engineering concept that a system is efficient or optimal when it maximizes desired outputs (such as utility) given available inputs.

Time management is the process of planning and exercising conscious control of time spent on specific activities—especially to increase effectiveness, efficiency and productivity.

Time management involves demands relating to work, social life, family, hobbies, personal interests and commitments. Using time effectively gives people more choices in managing activities. Time management may be aided by a range of skills, tools and techniques, especially when accomplishing specific tasks, projects and goals complying with a due date.

Engineering is the practice of using natural science, mathematics, and the engineering design process to solve problems within technology, increase efficiency and productivity, and improve systems. The traditional disciplines of engineering are civil, mechanical, electrical, and chemical. The academic discipline of engineering encompasses a broad range of more specialized subfields, and each can have a more specific emphasis for applications of mathematics and science. In turn, modern engineering practice spans multiple fields of engineering, which include designing and improving infrastructure, machinery, vehicles, electronics, materials, and energy systems. For related terms, see glossary of engineering.

As a human endeavor, engineering has existed since ancient times, starting with the six classic simple machines. Examples of large-scale engineering projects from antiquity include impressive structures like the pyramids, elegant temples such as the Parthenon, and water conveyances like hulled watercraft, canals, and the Roman aqueduct. Early machines were powered by humans and animals, then later by wind. Machines of war were invented for siegecraft. In Europe, the scientific and industrial revolutions advanced engineering into a scientific profession and resulted in continuing technological improvements. The steam engine provided much greater power than animals, leading to mechanical propulsion for ships and railways. Further scientific advances resulted in the application of engineering to electrical, chemical, and aerospace requirements, plus the use of new materials for greater efficiencies.

In computer science, a data structure is a data organization and storage format that is usually chosen for efficient access to data. More precisely, a data structure is a collection of data values, the relationships among them, and the functions or operations that can be applied to the data, i.e., it is an algebraic structure about data.

Productivity is the efficiency of production of goods or services expressed by some measure. Measurements of productivity are often expressed as a ratio of an aggregate output to a single input or an aggregate input used in a production process, i.e. output per unit of input, typically over a specific period of time. The most common example is the (aggregate) labour productivity measure, one example of which is GDP per worker. There are many different definitions of productivity (including those that are not defined as ratios of output to input) and the choice among them depends on the purpose of the productivity measurement and data availability. The key source of difference between various productivity measures is also usually related (directly or indirectly) to how the outputs and the inputs are aggregated to obtain such a ratio-type measure of productivity.

Productivity is a crucial factor in the production performance of firms and nations. Increasing national productivity can raise living standards because increase in income per capita improves people's ability to purchase goods and services, enjoy leisure, improve housing, and education and contribute to social and environmental programs. Productivity growth can also help businesses to be more profitable.

Energy economics is a broad scientific subject area which includes topics related to supply and use of energy in societies. Considering the cost of energy services and associated value gives economic meaning to the efficiency at which energy can be produced. Energy services can be defined as functions that generate and provide energy to the “desired end services or states”. The efficiency of energy services is dependent on the engineered technology used to produce and supply energy. The goal is to minimise energy input required (e.g. kWh, mJ, see Units of Energy) to produce the energy service, such as lighting (lumens), heating (temperature) and fuel (natural gas). The main sectors considered in energy economics are transportation and building, although it is relevant to a broad scale of human activities, including households and businesses at a microeconomic level and resource management and environmental impacts at a macroeconomic level.

Interdisciplinary scientist Vaclav Smil has asserted that "every economic activity is fundamentally nothing but a conversion of one kind of energy to another, and monies are just a convenient (and often rather unrepresentative) proxy for valuing the energy flows."

Standardization (American English) or standardisation (British English) is the process of implementing and developing technical standards based on the consensus of different parties that include firms, users, interest groups, standards organizations and governments. Standardization can help maximize compatibility, interoperability, safety, repeatability, efficiency, and quality. It can also facilitate a normalization of formerly custom processes.

In social sciences, including economics, the idea of standardization is close to the solution for a coordination problem, a situation in which all parties can realize mutual gains, but only by making mutually consistent decisions. Divergent national standards impose costs on consumers and can be a form of non-tariff trade barrier.

Energy consumption is the amount of energy used. In physics, energy consumption refers to the transformation of energy from one form to another, rather than its complete disappearance. According to the law of conservation of energy, energy cannot be created or destroyed, only converted. For instance, when a light bulb "consumes" electricity, it is not destroying the electrical energy but rather converting it into light and heat. Similarly, a car "consumes" gasoline by converting its chemical energy into kinetic energy (motion) and heat. Understanding energy consumption is crucial for analyzing the efficiency of various systems and processes, as the ultimate goal is often to minimize the conversion of useful energy into less desirable forms, such as waste heat.

From a societal and economic perspective, "energy consumption" often refers to the use of energy resources by human civilization to power homes, industries, transportation, and other activities. This typically involves drawing upon various primary energy sources, including fossil fuels (coal, oil, natural gas), nuclear power, and renewable sources (solar, wind, hydro, geothermal). The scale and patterns of this consumption have significant implications for environmental sustainability, economic development, and geopolitical stability. Analyzing trends in global and regional energy consumption helps policymakers and researchers understand resource availability, greenhouse gas emissions, and the potential for transitioning to more sustainable energy systems.

In economics, diminishing returns means the decrease in marginal (incremental) output of a production process as the amount of a single factor of production is incrementally increased, holding all other factors of production equal (ceteris paribus). The law of diminishing returns (also known as the law of diminishing marginal productivity) states that in a productive process, if a factor of production continues to increase, while holding all other production factors constant, at some point a further incremental unit of input will return a lower amount of output. The law of diminishing returns does not imply a decrease in overall production capabilities; rather, it defines a point on a production curve at which producing an additional unit of output will result in a lower profit. Under diminishing returns, output remains positive, but productivity and efficiency decrease.

The modern understanding of the law adds the dimension of holding other outputs equal, since a given process is understood to be able to produce co-products. An example would be a factory increasing its saleable product, but also increasing its CO₂ production, for the same input increase. The law of diminishing returns is a fundamental principle of both micro and macro economics and it plays a central role in production theory.