Question: Some organizations strive to be effective and others efficient. How would you define the concepts cost effective and cost efficient for your organization? Is cost

Some organizations strive to be effective and others efficient. How would you define the concepts cost effective and cost efficient for your organization? Is cost effectiveness or cost efficiency more important for your organization? Justify your response. please elaborate with references

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock 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 General Management Questions!

1. Some organizations strive to beeffective and othersefficient. Howwould you define the concepts cost effective and cost efficient for yourorganization? Is cost effectiveness or cost efficiency more...

Efficiency Some organizations strive to beeffective and othersefficient. Howwould you define the concepts cost effective and cost efficient for yourorganization(health care) Is cost effectiveness or...

Question 6 CHALLENGE CASE E a new approach to managembly line to make working for How Management Innovation keeps Ford Moving Ahead ver since Ford Motor Company's early years, innovative management...

Page 107 UNDERSTANDING THE IMPACT OF EMPLOYEE INVOLVEMENT ON ORGANIZATIONAL PRODUCTIVITY: THE MODERATING ROLE OF ORGANIZATIONAL COMMITMENT Simone T. A. Phipps, Macon State College Leon C. Prieto,...

CHAPTER 1 Managers and Entrepreneurs 1. T F Fortunately, through conducting over 1,000 studies during the past 50 years, leadership scholars have produced a clear profile of an ideal leader. Ans:...

Contents The Team..3 Group Contact Information.3 Mission Statement3 Foundation and Group Communications Plan.3 Group Communications Methods.4 Group Goals.5 Group Development and Norms.6 Developing...

Student Assessment Workbook CHCDIV003 - Manage and promote diversity Assessment task 1 Written Questions: Assessment objectives The student will demonstrate the knowledge to manage and promote...

I want you to summerize these 7 items. !Please be different from other answers! !Please get a little quick! Thanks. You should summarize the 7 items in the photo. Max 125 words! reading 1....

ORGANIZ/fIION DE\\IELOPMENT 4t XieS&r& L:rlt ttttrc DONALD R.BRO\\MN i',ii+ir+,::':i'i Organlzation Renewal: The Challenge-of Change LEARNING OBJECTIVES Upon completing this chapter, you will be able...

Who is chief knowledge officer? What the primary role? A senior executive in an organization responsible for ensuring that firm fully utilizes the value it gets through knowledge- which is the most...

New West Fruit Corporation (New West) and Coastal Berry Corporation are both brokers of fresh strawberries. In the second half of 2009, New Wests predecessor, Moncs Consolidated Produce, Inc., loaned...

Many stores run "secret sales": Shoppers receive cards that determine how large a discount they get, but the percentage is revealed by scratching off that black stuff (what is that?) only after the...

Prepare the statement of cash flows using the INDIRECT METHOD. Please include all calculations. Comparative balance sheets for 2 0 2 4 and 2 0 2 3 and a statement of income for 2 0 2 4 are given...

When older adults have difficulty with transportation and communication, or may be reluctant to request needed assistance to which they are entitled, they may be in need of: Group of answer choices...