efficient vs effectiveness
Answers
Answer:
efficient means gaining maximum productivity with minimum wastage of effort or money
effectiveness means achieving only desire results
Efficiency is the art of getting to that outcome faster.
Efficiency and Effectiveness both have a prominent place in the business environment which must be maintained by the organisation because its success lies on them. Efficiency has an introspective approach, i.e. it measures the performance of operations, processes, workers, cost, time, etc. inside the organisation. It has a clear focus on reducing the expenditure or wastage or eliminating unnecessary costs to achieve the output with a stated number of inputs.
In the case of Effectiveness, it has an extroverted approach, that highlights the relationship of the business organisation with the rest of the world to attain a competitive position in the market, i.e. it helps the organisation to judge the potency of the whole organisation by making strategies and choosing the best means for the attainment result.
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Effectiveness and efficiency are the two sides of the same coin.These two aspects need to be balanced and management at times,has to compromise with efficiency. For example it is easier to be effective and ignore efficiency i.e, complete the given task but at a higher cost.
Therefore,it is important for management to achieve goals with minimum resources i.e,as efficiently as possible while maintaining a balance between effectiveness and efficiency.