Accounting
Segment Information
October 16, 2022
Business
Efficiency
October 16, 2022

Doing the “right” things, usually beyond a predefined policy or set of procedures. In the broader context of business, effectiveness is the extent to which a task or process (or performance) produces a desired result “successfully” or in a better way. In this sense, effectiveness is about doing something with a sense of innovation and ability to find better methods towards cost savings, speed of delivery, smoother processes, etc. It involves adaptation to changes in the business environment and concentration on long-term objectives.

For example, an effective production line worker is one who could figure out means to reach the desired results with shorter time, less resources, and innovative methods.

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