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CBSE Class 12-commerce Answered

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Asked by 7533055140deepak | 30 Jan, 2020, 11:05: AM
answered-by-expert Expert Answer
Efficiency and Effectiveness are the two sides of the same coin. Both are equally important as being effective means completing the task on time but it is not enough to just complete the task on time but it must be done correctly without any wastage of resources.
 
Effectiveness: It refers to completion of task on time and is concerned with the achievement of end result. 
 
Efficiency: It refers to completion of task correctly with minimum cost and no wastage of resources. It is related to cost benefit analysis utilising minimum resources and getting maximum benefits. 
 
In the given case, since, Jay has competed the task on time and achieved the end result on time, we can say that he is an Effective Manager; but not an Efficient Manager as he has managed to complete the task only by selling the last 1000 units at discount which is does not fetch maximum benefit from the target achieved.
Answered by Surabhi Gawade | 03 Feb, 2020, 10:17: AM

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