Asked by Julian Ortiz on May 27, 2024
Verified
The two fundamental metrics that organizations employ in assessing their processes are efficiency and effectiveness.
Efficiency
Efficiency refers to the ability to accomplish a job with a minimum expenditure of time and resources. It is often used to describe the effectiveness of a process, system, or machine.
Effectiveness
The degree to which objectives are achieved and targeted problems are solved, in contrast to efficiency, which focuses on the resources required to achieve these objectives.
- Familiarize yourself with the variance between efficiency and effectiveness in the framework of organizational processes.
Verified Answer
KF
Kaylaa FluddMay 29, 2024
Final Answer :
True
Explanation :
Efficiency measures how well resources are used in achieving a goal, while effectiveness measures the extent to which objectives are achieved, making them fundamental metrics for assessing organizational processes.
Learning Objectives
- Familiarize yourself with the variance between efficiency and effectiveness in the framework of organizational processes.