explain this in one page related to value for money principle

ACTIVITY ANALYSIS A traditional approach to increasing efficiency is to cut budgets - reduc- ing the amount of labor and materials while maintaining the same level of output. While this approach will increase efficiency in the short run, in the long run, costs may return to previous levels as employees tire of the unusually fast pace. Another approach is to uncover the inefficient or unnecessary activities that cause the costs. If these activities can be made more efficient or eliminated, then efficiency can be improved per- manently. This second approach is called activity analysis. Activitanoli