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Efficiency is inversely proportional to the time when the given work is constant. Efficiency plays an important role in completing work within a given period. When the efficiency of an individual is less then he takes more time to complete the work and when the efficiency is more theme the time for completing the sane work will be less. The present study has discussed the concepts of efficiency and time and differences between them.
Concepts of efficiency and time
The efficiency of work can be defined as how much work an individual can do in a single day. It is expressed in terms of percentages. For example, if an individual can do a specific job in four days, then the working efficiency of that individual is 25 percent. Efficiency is inversely proportional to time. The work efficiency formula is efficiency = output/input and then multiply the result by 100 in order to get the result in percentages. On the other hand, time can be defined and the time taken by an individual to complete a piece of work. If we have the amount of time required for the completion of the work then we can find the rate of work. The formula for the rate of work is Work= rate * time.
Difference between efficiency and time
The main difference between efficiency and time is they are inversely proportional to each other. In time the efficiency of doing work decreases and when the efficiency of doing work increases the time taken to complete the work decreases. In order to show the difference between time and efficiency we can use some mathematical expressions such as follows:
Example 1:
Ram is twice as good as Sam and Ram can complete a piece of work in 30 days less than Sam. So what is the efficiency of Ram and Sam?
The ratio of time taken by Ram and Sam is 1: 2
The time difference between Ram and Sam is 1 while Ram takes 1 day and Sam takes 2 days. When the difference of time is one day then ram takes 1 day and Sam takes 2 days. Therefore, when the difference of the time is 30 days then ram takes 30 days and Sam takes 60 days. Therefore, the efficiency of ram is = 100/30 percent and the efficiency of Sam is 100/60 percent.
Importance of time and efficiency
Both time and efficiency are important factors for an individual and for an organisation. An increase in the efficiency of the employees of an organisation can increase the productivity of the organisation. An increase in the efficiency of the employees can reduce the time for completing the given work. It can improve the function of an organisation and help them to grow their business in the present competitive business environment. On the other hand, an increase in efficiency can reduce the operation cost and enhance the accuracy of production.
For example, when a person is 100 percent efficient and if a person is 50% efficient and then they are given the same work to complete. Then the 100% efficient employees can complete the work before the 0.5% efficient employees of the organisation. Alternatively, time is one of the most important factors for everyone in an effective way. When an organisation has enough time to produce its products, then they can modify the products and can make them more beneficial, which can attract new customers in their business process. On the other hand, a shortage of time can lead to poor performance of an organisation in the business market. In addition, poor working efficiency can affect the performance of an individual and an organisation. Therefore, increasing the efficiency of the employees is of core importance for the growth and development process of a company.
Conclusion
The present study has provided an understanding of the difference between time and efficiency and their relation in the business world and for an individual. From the study, it can be concluded that time is inversely proportional to efficiency which means when time increases efficiency decreases and vice versa. This report also provides some mathematical expressions about the relationship between time and efficiency in mathematics.
