Tip of the Month - Mortgage Grand Prix Continued by Stewart Mednick

by 07 May 2009
Efficiency Definition of Efficiency: accomplishment of, or ability to accomplish a job with a minimum expenditure of time and effort. Three time 500cc Grand Prix Motorcycle Racing World Champion Wayne Rainey improved his overall performance in part by creating an incremental method of improving performance. Part of that formula was to make his motorcycle go faster. In the business world, this equates to efficiency. I want to expand and develop a bit more specifically about this concept as I see it. The idea of business efficiency is a direct result of management efficiency as a part of the philosophy of how to run a company or organization successfully. Management philosophy can be traced back to biblical times, but one of the oldest and most recognized read is a Taoist master treatise on military tactics, ?The Art of War? written by Sun Tzu around 500 BC in China. These concepts were later applied to business management in the late 20th century. In the later 1400?s, Niccol

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