ECONOMICS

COST ACCOUNTING

BALANCED SCORECARDS

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Doing the things that best lead to the achievement of the results is:
A
Efficiency
B
Effectiveness
C
Effectiveness
Explanation: 

Detailed explanation-1: -Effectiveness is the capability of producing a desired result or the ability to produce desired output. When something is deemed effective, it means it has an intended or expected outcome, or produces a deep, vivid impression.

Detailed explanation-2: -Finally, to achieve organizational effectiveness, the organization must demonstrate a willingness to continuously improve its processes. This will require feedback techniques, internal and external communication channels, and that suggestions for improvement are taken seriously.

Detailed explanation-3: -“Efficiency is doing things right; effectiveness is doing the right things, ” Peter Drucker, often touted as the “Father of Modern Management, ” famously said.

There is 1 question to complete.