Chose to save time and ran (8)
I believe the answer is:
operated
'ran' is the definition.
('operate' can be a synonym of 'run')
'chose to save time' is the wordplay.
'chose' becomes 'opted' (I've seen this before).
'to save' means one lot of letters goes inside another.
'time' becomes 'era' (I've seen this before).
'opted' going around 'era' is 'OPERATED'.
'and' is the link.
(Other definitions for operated that I've seen before include "Performed surgery or worked a machine" , "ran" , "Functioned" , "Adore pet (anag.)" , "'Directed or controlled, machinery say (8)'" .)