Introduction
Management has been defined as a process of getting things done with the aim of achieving goals effectively and efficiently. Efficiency and effectiveness were originally industrial engineering concepts that came of age in the early twentieth century. Efficiency refers to doing things in a right manner. Effectiveness, on the other hand, refers to doing the right things. Management has been defined as a process of getting things done with the aim of achieving goals effectively and efficiently.
Literature Review
“Efficiency is doing things right; effectiveness is doing the right things.” (Peter F. Drucker, 2006) “It is knowing exactly what you want to men to do and seeing that they do it in the best and cheapest way.” (F.W.Taylor)
“A principle of work allocation and specialization in order to concentrate activities to enable specialization of skills and understandings, more work focus and efficiency to do the right job.” (Henri Fayol)
The terms effectiveness and efficiency have a lot to do with a business entity. Every business stands to attain its goals and objectives while particularly stressing on its ability of maintaining its survival and profitability throughout. In doing so, the effectiveness and efficiency counts immensely. On the one hand, on the basis of these two terms a business goes to heighten its level immensely, on the other hand it bears losses in the absence of the results being associated with effectiveness and efficiency. It is, thus, essential for a business to maintain effectiveness and efficiency continuously.
Effectiveness means producing desired results. In this way, as long as the management makes effective planning which could bring the results in a way that is forecasted, the business will remain smoothly running. Since it involves making right decisions at the right time, it is essential for business managers to do so.