Question: What is the difference between efficiency and effectiveness? Explain why both are valuable to managers.

What is the difference between efficiency and effectiveness? Explain why both are valuable to managers.

Step by Step Solution

★★★★★

3.41 Rating (151 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

Both are integral to effective management Efficiency is ... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Management Accounting Questions!

Q:

What is the difference between efficiency and effectiveness? Which is more important for performance? Can managers improve both simultaneously?

Q:

1) What is the difference between Primary and secondary (research) Source and give an example? 2) Why do we use APA formatting when writing research papers? 3) What is the cost to implement ERP? Why...

Q:

re Regular Languages and Finite Automata (a) Let L be the set of all strings over the alphabet {a, b} that end in a and do not contain the substring bb. Describe a deterministic finite automaton...

Q:

1 - 1 . What is the difference between efficiency and effectiveness? Explain why both are valuable to managers.

Q:

Compare the tasks, priorities, and responsibilities of first-line, middle, and top managers. Discuss the difference between efficiency and effectiveness. Explain through examples how a process can be...

Q:

What is the difference between efficiency and effectiveness? Explain why this difference is important to an agribusiness manager. Explain how the unifying theme of this book leads to greater success...

Q:

Agribusiness management is described as a dynamic, continuous process. Do you agree or disagree? Explain. What is the difference between efficiency and effectiveness? Explain why this dif -

Q:

Management and Organizations 1) A great manager makes a job more enjoyable and productive. 2) Managers play an important role in dealing with various challenges being faced by organizations today. 3)...

Q:

fundamental of business Dagmar has been tracking product sales for Pharma Industries, a medical services a company. She notices that sales of surgical supplies have fallen off in the past six months...

Q:

Topic Threads Posts Last Post Discussion for Week 1 (Completed) Contains unread posts Locked. Conference Instructions: Each person please make at least one response to one of the posted questions and...

Q:

Document your views about the effectiveness of regulatory reforms, such as the SarbanesOxley Act of 2002, in preventing and deterring financial reporting fraud and other unethical actions. Discuss...

Q:

Explain how each of these matters should be accounted for in accordance with the requirements of IAS 16. (a) A company buys an aircraft for 9,000,000. Under civil aviation rules, the aircraft...

Q:

8. Discuss at least two items that are important to the value of companies such as Louis Vuitton (LVMH Group) (FRA) or adidas (DEU) but that are not recorded in their statements of financial...

Q:

1. Wills for College Students. Do college students really need a will at this point in their lives? Why or why not? What probably would happen to the typical college students assets if he or she died...

Q:

1 Question 4: 18 marks 2 3 Bespoke Furniture Assemblers Inc. (BFAI) manufactures bedroom furniture in sets (a set includes a 4 dresser two queen-size beds, and one bedside table) for use in motels...

Q:

This trial balance of Wildhorse Co. does not balance. Each of the listed accounts has a normal balance per the general ledger. An examination of the ledger and journal reveals the following errors:...

Q:

Becton Labs, Inc., produces various chemical compounds for industrial use. One compound called Fludex, is prepared using an elaborate distilling process. The company has developed standard costs for...