Efficiency in general describes the extent to which time or effort is well used for the intended task or purpose. It is often used with the specific purpose of relaying the capability of a specific application of effort to produce a specific outcome effectively with a minimum amount or quantity of waste, expense, or unnecessary effort.
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In Blade Runner, Ridley Scott shows us a world full of "efficiency". Technology has advanced far enough to enable street vendors to do DNA tests on synthetically manufactured snake scales and housing shortages are clearly no longer an issue. However despite such advances there are clearly major problems still plaguing the city and in fact the majority of people have fled off-world. In the world of Blade Runner, replicants have been created for the purpose of colonizing other planets. Such a feat by genetic designers, creating robots that are superior to the creators themselves, would be looked at by our society today as amazing and extremely beneficial. However, as seen by the goal of the Blade Runners which is to "retire" the replicants, these technological advances have gotten too far out of hand and the efficient city which we had been working towards for hundreds of years is no longer efficient for humans.