Question

``It is important for management to achieve its goals effectively and efficiently.'' Explain.

Hint:

Effectiveness is about achieving goals, while efficiency is about using resources wisely to achieve those goals.

Answer 1

Management plays a crucial role in ensuring that organizational goals are achieved both effectively and efficiently. Effectiveness means achieving the desired objectives, while efficiency refers to achieving these objectives with minimum use of resources such as time, money, and effort. Both are essential for the success and sustainability of an organization.
Firstly, effectiveness ensures that management is doing the right things. It focuses on selecting appropriate goals and taking actions that help in achieving those goals. If management is effective, the organization is able to meet its targets, satisfy customer needs, and adapt to changes in the external environment. Without effectiveness, even efficient operations would be meaningless as the organization may be moving in the wrong direction.
Secondly, efficiency ensures that management is doing things in the right manner. It emphasizes optimum utilization of available resources so that wastage is minimized and productivity is maximized. Efficient management helps in reducing costs, improving profitability, and increasing competitiveness in the market.
Management must balance both effectiveness and efficiency. Being effective without efficiency may lead to high costs, while being efficient without effectiveness may result in failure to achieve organizational objectives. Therefore, management must strive to achieve goals in a way that ensures both proper results and optimal use of resources.
Thus, achieving goals effectively and efficiently is essential for organizational growth, survival, and long-term success.