question_answer 12)

"A successful enterprise has to achieve its goals effectively and efficiently." Explain.  

Answer:

"A successful enterprise has to achieve its goals effectively and efficiently". Thus, management has to see that tasks are completed and goals are achieved with the minimum resources. Management is thus getting 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 end result, it is achieved or not. Efficiency means doing the work correctly and with minimum cost. If by using less resource 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.