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Busman efficiency and effectiveness

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stramandinoli.chiara:
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

Zaljc:
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.

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