COST ACCOUNTING
BALANCED SCORECARDS
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Doing the things that best lead to the achievement of the results is:
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Efficiency
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Effectiveness
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Effectiveness
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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.
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