Efficiency is doing the job right.
Effectiveness is doing the right job.
In business, both of these words are about making more profit, but one is about ‘little dollars’ and the other is about ‘big dollars.’
In other words, one of these words can make you a LOT of money and one of these words can save you a little bit of money.
Way to many people use ‘efficiency’ and ‘effectiveness’ interchangeably. These words do not have the same meaning, not by a long shot.
Which one is more important to your business?
Why?
[[T_F]]Data Leak Prevention – Data Security Solutions – Information Theft Protection, Detection and Prevention Software Productstracefusion_signature=267cb1d11405f317bcdcd4fa43cbd235e2e4c98817398e9cccc5e661f08ca8f3ef7b3f75794a64995e7a31c1f7b0f342dee3995af64f1050d9fd56a2f5d807dd064db3ef3ae007f5118a03bfb8a72a1577595981c725e2e73ab378799d664fc3dcc755216268f1d29bc6088e5dbc94833360bd92153d099b3b2bf726464bba958d5eb77133c391542b01a253b2b760cc800c1d420404415b74c85454cb5754c955ba49370a3794c0acda53326b20935ec234bfc39b5ceb99746b934e077fcc0ba5051d748967bd43e378915b1d1f43e246478a2534d2b01e482df42029497b1d36ed5249515017ffdd2747da5d2bb125b7af438a38be9e170643e4ac5786a997252abf6e95d269af02ff44eb7589fb49eb4204bb78d5aec985d429752e8637fc1d0c112fd1357ebf932a10cab2f7cec3e71f18ae277b975595d23019521270f89102c50a65b91da18f6fe936e117f9cb0dd6c669acffa7605e79caeac6a0335858879224b86fa7202fc89bd0b871be91879ad8ccb0d5364c2817c33f1b1848ca9634c0433a5506a4cb17e2be39485cc300406ffb7f32e579684f8e8e3424524adfaafb027b887091ab0028bd64f154d27eeda8bdd7e443cfcffb383e94cc54ee9af102ed8662ebd36e80cf8b44d4ea72e7184b9ae1a3c997db9ad07fbcc9157e0c3568de06d1643eedb01e932e2a9993060d76aff3c965ddd0d5c87f0c5913ead65913e8d7[[T_F]]
No related posts.
Related posts brought to you by Yet Another Related Posts Plugin.
{ 2 comments… read them below or add one }
Doug
Agree that they are different things. Agree that people mis-use them. For me, however, efficiency is minimising cost (financial, time, resources); effectiveness is maximising result. You need a balance of both. A business can be effective in its aim to sell millions of products, but if it is inefficient, it will fail. Equally, a business can cost very little to run, but achieve none of its goals.
Well done for pointing out the general misuse of these terms!
Well stated PowWowNow, especially if you apply the idea to the general world of business. In the Infopreneur world, however, it is highly unlikely that an effective business would not also be a highly profitable and successful business – regardless of how efficient they are.