WW obviously doesnt understand what efficiency actually means. Perhaps he means effective , but efficiency is basically the work got out divided by the work put in . Or money gained over money spent.
The problem with focussing on efficiency and not effectiveness is that you can do something very efficiently as he is claiming but overlooking the critical point which is that efficiency doesnt help if you are applying it to the wrong target or task which is exactly what BA have done . They very efficiently put their IT systems at risk and when the inevitable happened they trashed their reputation and revenues.