Effectiveness
Download as PPT, PDF1 like157 views
This document discusses effectiveness and efficiency in management. It provides examples of effective and efficient practices such as optimizing raw material use, recruiting skilled employees, and streamlining production processes. Effectiveness focuses on practices like utilizing skills, building relationships, and customizing offerings while efficiency emphasizes low costs, reducing inventories and turnover. The document also lists intrinsic factors like employee appraisal and technology advances and extrinsic factors including sales networks and market segmentation that contribute to effectiveness and efficiency.
Effectiveness
- 1. EFFECTIVENESS And EFFICIENCY
- 2. Effectiveness and Efficiency in Management Exhibit 1.2 8
- 3. EXAMPLES • Streamline production of goods • Optimum utilization of raw materials. • Low distribution cost. • Recruiting people having skill set matching the requirement. • Low employee turnover • Good work environment. • Recruitment procedure. • Good relationship between employees. • Individualize and personalize market offering. • Lower cost of ownership. (Suppliers.)
- 4. EXAMPLES EFFECTIVENESS EFFICIENCY • Optimum utilization of raw • Low distribution cost. materials. • Streamline order processing. • Recruiting people having • Reduce inventories skill set matching the • Reduces cost of customer requirement. acquisition. • Good relationship between • Streamline production of employees. Goods • Individualize and • Low employee turnover personalize market offering. • Good work environment. • Lower cost of ownership. • Recruitment procedure. (Suppliers.) • Optimum level of employees
- 5. Intrinsic Factors Effectiveness and Efficiency 1. Employee appraisal. 2. Maximum production. 3. New Product line. 4. Advancement in the existing product. 5. Low consumption of raw materials. 6. Only one entrance in a factory. 7. Advanced technology.
- 6. Extrinsic Factors Effectiveness and Efficiency 1. Goods sales network. 2. Market segmentation 3. Identifying new markets 4. Customer loyalty.