Efficiency in an organization is defined as:

Efficiency in an organization is fundamentally about optimizing the use of resources to achieve the highest level of output. The focus is on accomplishing tasks and producing goods or services using the least amount of input—such as time, money, and materials—possible. This concept is often encapsulated in the idea of achieving maximum output with minimal resource use.

In contrast, meeting all organizational goals regardless of resource allocation pertains more to effectiveness rather than efficiency. While it is important for an organization to accomplish its objectives, doing so at an excessive cost can lead to inefficiency.

The notion of balancing effectiveness and productivity is significant in management but does not specifically define efficiency alone. It emphasizes a broader perspective that includes not just resource utilization but also how well an organization meets its strategic aims.

Lastly, increasing profit margins while reducing costs is certainly a desirable outcome for businesses, but it does not encompass the entire concept of efficiency. Profit margins are more related to financial performance rather than the operational focus that efficiency emphasizes. Hence, the definition that encapsulates the essence of efficiency, which is to achieve maximum output with minimal resource use, is the most accurate representation.