Founders

I just found out the difference between effectiveness and efficiency.

Especially in relation to business management.

I had my first MBA class yesterday on Introduction to business management

I learned that,

Effectiveness means being able to do what you must do very well

Being able to hit all your targets

While

Efficiency is achieving your goals and hitting all your targets within your estimated budget.

So a business manager can be effective without being efficient.

But the best scenario is being effective and efficient.

Hitting all your targets in the most cost effective way.

What do you think?