Efficiency & Effectiveness goes hand in hand  Efficiency & Effectiveness        go hand in handEfficiency and effectivenes...
Efficiency & Effectiveness goes hand in hand♥ Individualize and personalize market offering♥ Lower cost of ownership (Supp...
Efficiency & Effectiveness goes hand in handSo to conclude I would like to say that if either of the 2 E’s aremissing in a...
Upcoming SlideShare
Loading in...5
×

Ob assignment priya

198

Published on

Published in: Business
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
198
On Slideshare
0
From Embeds
0
Number of Embeds
0
Actions
Shares
0
Downloads
1
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Ob assignment priya

  1. 1. Efficiency & Effectiveness goes hand in hand Efficiency & Effectiveness go hand in handEfficiency and effectiveness are the two sides of the same coin. It has to gotogether. It cannot work alone. It is always done in unity. Below are thedefinitions of the two E’s which are been discussed in the topic.EFFECTIVENESS means the capability of, or success in, achieving a givengoal. Contrary to efficiency, the focus of effectiveness is the achievement assuch, not the resources spent, so anything that is effective is notnecessarily efficient, but anything that is efficient also has to be effective.EFFICIENCY means the production of the desired effects or results withminimum waste of time, effort, or skill. A measure of effectiveness;specifically, the useful work output divided by the energy input in anysystem.“Efficiency is intelligent laziness”Now let’s deal with these two criteria’s differently. First let’s deal witheffectiveness to make it clearer we have some examples they are asfollows:-♥ Optimum utilization of raw materials Well today there are many economic goods which are inadequate orinsufficient in supply so it is necessary to make use of the raw materialsmore efficiently to optimum utilization.♥ Recruiting people having skill set matching the requirement Today in India where the population is more than a billion from which ¼of them are skilled employees. So they should be efficiently recruited andgiven a position suitable for their qualification.♥ Good relationship between employees Today where the employees get a better job and pay by other companiesit is only the social environment which wants them to live in the existingcompany. So good relationship between employees is important.Priya Jain PGP- A3 Roll No 28 Page No 1
  2. 2. Efficiency & Effectiveness goes hand in hand♥ Individualize and personalize market offering♥ Lower cost of ownership (Suppliers)Secondly now comes the other E that is effectiveness to make it clear wehave some examples♥ Low distribution cost If distribution method / pattern is effectively and efficiently handled, it will result in low Distribution cost.♥ Streamline order processing♥ Reduce inventories If inventories are effectively used and handled – then the company need not have to keep it in large quantities and could be ordered as and when required – so company would save on working capital.♥ Reduces cost of customer acquisition♥ Streamline production of Goods♥ Low employee turnover If employees are efficiently used and are handled well in the company i.e. effectively – then there is no reason for high employee turnover so that company has to bear the expenses.♥ Good work environment.♥ Recruitment procedure. It’s the most important thing for any company because if recruitment is not handled effectively and if a wrong person is hired – we all know that the training of people is very costly and if the person is not able to cope up with it–the charges which the company would bear would be high and after that ultimately again you have to start the procedure so that you get the right person for the job – so again more expenses for the company.♥ Optimum level of employeesPriya Jain PGP- A3 Roll No 28 Page No 2
  3. 3. Efficiency & Effectiveness goes hand in handSo to conclude I would like to say that if either of the 2 E’s aremissing in an organization – the organization cannot survive in theindustry – because today the markets have become verycompetitive and company has to give more for less. Customers havebecome the king in the market and market has become competitiveand price sensitive with demand for excellent quality. So the work,processes, products and anything and everything related has to beefficient and effective so that company can go from strength tostrength.Priya Jain PGP- A3 Roll No 28 Page No 3

×