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“A successful enterprise has to achieve its goals effectively and efficiently:” Explain. |
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Answer» “A successful enterprise has to achieve its goals effectively and efficiently”. That is, management has to see that tasks are completed and goals are achieved with minimum resources. Management has to get things done with the aim of achieving goals effectively and efficiently. Being effective or doing work effectively basically means finishing the given task. It is concerned with the end result, it is achieved or not. Efficiency means doing the work correctly and with minimum cost. If by using less resources, more benefits are derived then efficiency has increased. It is thus essential for any organisation to focus on efficiency as well as effectiveness. It is not only important to complete the work correctly but equally important to complete it with minimum cost. In the same manner, it is not only important to reduce cost but equally important to complete the work correctly. |
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