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Efficiency

Doing things “right”, i.e., in accordance with predefined procedures/ policies, etc. In the broader context of business, efficiency is the...

Effectiveness

Doing the “right” things, usually beyond a predefined policy or set of procedures. In the broader context of business, effectiveness...

Ecological Niche

A business strategy that aims at gaining a practical monopoly in a niche (i.e., a small or specialized area). A...