Is there any practical difference between efficiency and effectiveness in business?
Hi. The answer is simple. Efficiency is about process – the use of resources and energy such as people, technology, production, waste management and energy management, including output and productivity Effectiveness is about outcome, impact and quality – how well the solution addresses the problem, how well the product works, how well the person fulfils their role, including cost effectivness and value for money. Efficiency plus effectiveness equals excellence.
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