ATAR Notes: Forum

VCE Stuff => VCE Business Studies => VCE Subjects + Help => VCE Business Management => Topic started by: stramandinoli.chiara on October 04, 2018, 07:56:45 pm

Title: Busman efficiency and effectiveness
Post by: stramandinoli.chiara on October 04, 2018, 07:56:45 pm

Hi Everyone,

when refferring to reducing money (with using various strategies) would you talk about that as being efficient or effective or both?

Thanks in advance

Title: Re: Busman efficiency and effectiveness
Post by: Zaljc on October 10, 2018, 10:15:24 pm

First of all, you don’t want to reduce ‘money’, you’d want to reduce expenses. Be careful with how you word things

Secondly, reducing expenses fits in with Effectiveness.

Remember, efficiency is speed and the rate of productivity whereas effectiveness is how well business objectives are achieved.