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Source: Encyclopedia of Banking & Finance (9h Edition) by Charles J Woelfel
(We recommend this as work of authority.)

Effectiveness refers to how a job is performed:  Does the work produce the intended results?  An organization's effectiveness is evaluated in terms of how what is done relates to goals and objectives.  Efficiency is the relationship of outputs per unit of input.  Efficiency relates to an activity performed with the lowest consumption of resources.

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