Economics and Business

Management

 

Efficiency

 

Author: Paulo Nunes (Economist, Professor and Business Consultant)

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Date Created: 25/05/2011

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Key words:  management,

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Efficiency

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Efficiency Concept

Efficiency is a term that designates the well doing, using adequately the organizational resources available. Unlike the term effectiveness, that places the emphasis on the results reached, the term efficiency places the emphasis on the ways used to reach those results. By other words, while effectiveness means to reach the goals, efficiency means “well doing”.

 

Translated from Portuguese by Susana Saraiva, Portuguese-English and English-Portuguese translation specialist. Contact: spams@sapo.pt