In a business context, what does the term 'efficiency' imply?

Efficiency in a business context refers to the ability to complete tasks effectively while minimizing waste—whether that be time, resources, or efforts. It captures the essence of achieving maximum productivity with the least amount of input, ensuring that processes are streamlined and costs are kept down.

Choosing the easiest tasks does not necessarily contribute to overall efficiency if those tasks do not lead to beneficial outcomes or if they consume unnecessary resources. While delegating tasks can improve efficiency through shared workload, it is not the core definition of the term itself. Reconnecting with past clients, although a valuable business practice, primarily relates to relationship management rather than the efficiency of completing tasks. Thus, the concept of effectiveness and minimal waste as outlined in the correct answer embodies the true nature of efficiency in a business setting.