Brian Thornton from the Association for College Management said that efficiency savings have already been made for a number of years, so they weren't clear where further efficiency gains could be made.
"We look for high cash, low debt, and screen for management quality and efficiency, " Callahan says, adding that he considers direct meetings with companies' executive spinmeisters a waste of time.
Among those that do, the definition varies: 55% define sustainability as the management of issues related to the environment (for example, greenhouse gas emissions, energy efficiency, waste management, green-product development, and water conservation).
Fifth Third, for example, has long been known for its tight expense management, but its efficiency ratio was 63% in the fourth quarter.
Energy management firms have struggled to find financing for energy-efficiency contracts as credit conditions remain less-than-ideal.
In addition, the company has been developing infrastructure management capabilities to pull all these elements together for greater efficiency.
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As always with charitable organizations, the key efficiency issue is overhead--money spent for management and fundraising rather than for direct charitable use.
The company is renowned for its innovation and has a strong management culture that is focused on efficiency and controlling costs.
That is a recommendation you might expect from a management consultancy, but no less valid for that: part of the recent increase in efficiency in Brazil's car plants, for example, comes from introducing work teams and re-designing production lines.
Middle management is all-too-often incentivized to achieve efficiency, and that means a preference for repetition of what is already working well.
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Unlike the private sector, management of the not-for-profit education industry isn't beholden to shareholders, who typically demand maximum efficiency that calls for cost cuts wherever possible.
But the authors are persuasive that some things can be done just as well with less fuel or material: drip irrigation, for example, superwindows, innovative cooling and ventilation systems, integrated fish management, and economic incentives that reward efficiency rather than waste.
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