What is efficiency?

In economic terms, a definition of effectiveness can be the degree of fulfillment of the goals pursued through an action plan, without taking into account the economy of means used to achieve the objectives, as occurs with the concept of efficiency, a term that is often quite often confused with effectiveness. From the axiological point of view, the value of effectiveness is hierarchically lower than that of efficiency.

The concept of effectiveness is framed above all at the level of achievement of the objectives of a , to the ability to achieve everything that is proposed.

Efficacy example

A good example of efficiency is when we intend to carry out a work or job in two weeks and meet the established deadlines. However, efficiency requires more than just meeting deadlines.

Difference between effectiveness and efficiency

The term efficiency refers to the relationship between the resources used in a project and the results obtained with it. Efficiency occurs when the least amount of resources are used to achieve the same goal. Or also when more objectives are achieved with fewer resources. An example of efficiency is when one hundred units of a product are obtained by investing twelve hours. It will be more efficient if those hundred units are made in ten hours or 120 are achieved.

With all this we can say that efficiency is distinguished from efficiency in that the latter makes the best use of resources, while effectiveness is based on the ability to achieve an objective even though the process has not used the resources of the company. best possible way. In other words, efficiency does not pay attention to whether we were efficient during the production steps.

The ideal would be to be effective and efficient at the same time, but it can be the case of being effective without being efficient and efficient without being effective.

Leave a Comment