Question

Why efficiency and effectiveness are called twin pillars of managerial success?

Answer 1

Answer:

The terms effectiveness and efficiency have a lot to do with a business entity. Every business stands to attain its predefined goals and objectives while particularly stressing on its ability of maintaining its survival and profitability constantly. In doing so, the effectiveness and efficiency counts greatly. On the one hand on the basis of these two terms a business goes to heighten its level immensely, on the other hand it bears losses in the absence of the results being associated with effectiveness and efficiency. It is thus essential for a business to maintain effectiveness and efficiency continuously.

Explanation:

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Answer 2

While efficiency is employing minimum resources, effectiveness is the successful completion of a task.

• In order to achieve the best performance, efficiency means using the fewest resources possible. One productivity measure is scheduling software that calculates the number of people required to serve customers in a shop.
• The ability to perform a mission effectively is management effectiveness. Employee preparation may be aided by managers which create training manuals and assess how successful they are at developing good workers.
• While efficiency is the achievement of maximum productivity with a minimal amount of effort, effectiveness is the degree to which something is efficient in achieving the desired outcome.
• The former is important for growth and the latter is important forprofitability. Thus, both are the twin pillars of managerial success.