The life cycle of any business consists of four stages: launch, growth, maturity, and decline. At each stage, businesses constantly work to maintain efficiency in their processes. Despite their best efforts, both large and small organisations may struggle to maintain or improve efficiency in their processes. The reasons causing the inefficiencies are multiple. The most common include management focusing on only one department and overlooking the others, failing to notice stagnation, not identifying bottlenecks to progress, and not keeping systems updated. Inefficiencies may cost businesses 20 to 30 percent of their annual revenue and, in the worst cases, directly jeopardise their operations. But what is business efficiency? What steps can…