What is more important amongst efficiency and effectiveness for an organization. Introduction: We know that managers direct other employees to accomplish their goals as it is their responsibility to get things done in an effective and efficient manner. Efficiency can be defined as a ratio of output to input. Getting maximum output with minimal input is the desire of every manager, while effectiveness is attaining the desired organizational goals, higher effectiveness leads to higher attainment. Both are equally important for an organization in today's environment.

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Answer 1

Question

Chapter 1, Problem 3DQ

Summary Introduction

To determine:

What is more important amongst efficiency and effectiveness for an organization.

Introduction:

We know that managers direct other employees to accomplish their goals as it is their responsibility to get things done in an effective and efficient manner. Efficiency can be defined as a ratio of output to input.

Getting maximum output with minimal input is the desire of every manager, while effectiveness is attaining the desired organizational goals, higher effectiveness leads to higher attainment. Both are equally important for an organization in today's environment.

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An amount of $800.00 earns $500.00 interest in three years, three months. What is the effective annual rate if interest compounds monthly? The effective annual rate of interest as a percent is ____%.

Answer 2

Question

Chapter 1, Problem 3DQ

Summary Introduction

To determine:

What is more important amongst efficiency and effectiveness for an organization.

Introduction:

We know that managers direct other employees to accomplish their goals as it is their responsibility to get things done in an effective and efficient manner. Efficiency can be defined as a ratio of output to input.

Getting maximum output with minimal input is the desire of every manager, while effectiveness is attaining the desired organizational goals, higher effectiveness leads to higher attainment. Both are equally important for an organization in today's environment.

Expert Solution & Answer

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Answer 3

Question

Chapter 1, Problem 3DQ

Summary Introduction

To determine:

What is more important amongst efficiency and effectiveness for an organization.

Introduction:

We know that managers direct other employees to accomplish their goals as it is their responsibility to get things done in an effective and efficient manner. Efficiency can be defined as a ratio of output to input.

Getting maximum output with minimal input is the desire of every manager, while effectiveness is attaining the desired organizational goals, higher effectiveness leads to higher attainment. Both are equally important for an organization in today's environment.

Expert Solution & Answer

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Answer 4

Question

Chapter 1, Problem 3DQ

Summary Introduction

To determine:

What is more important amongst efficiency and effectiveness for an organization.

Introduction:

We know that managers direct other employees to accomplish their goals as it is their responsibility to get things done in an effective and efficient manner. Efficiency can be defined as a ratio of output to input.

Getting maximum output with minimal input is the desire of every manager, while effectiveness is attaining the desired organizational goals, higher effectiveness leads to higher attainment. Both are equally important for an organization in today's environment.

Expert Solution & Answer

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Answer 5

Chapter 1, Problem 3DQ

Summary Introduction

To determine:

What is more important amongst efficiency and effectiveness for an organization.

Introduction:

We know that managers direct other employees to accomplish their goals as it is their responsibility to get things done in an effective and efficient manner. Efficiency can be defined as a ratio of output to input.

Getting maximum output with minimal input is the desire of every manager, while effectiveness is attaining the desired organizational goals, higher effectiveness leads to higher attainment. Both are equally important for an organization in today's environment.

Answer 6

Chapter 1, Problem 3DQ

Summary Introduction

To determine:

What is more important amongst efficiency and effectiveness for an organization.

Introduction:

We know that managers direct other employees to accomplish their goals as it is their responsibility to get things done in an effective and efficient manner. Efficiency can be defined as a ratio of output to input.

Getting maximum output with minimal input is the desire of every manager, while effectiveness is attaining the desired organizational goals, higher effectiveness leads to higher attainment. Both are equally important for an organization in today's environment.

Answer 7

Chapter 1, Problem 3DQ

Summary Introduction

To determine:

What is more important amongst efficiency and effectiveness for an organization.

Introduction:

We know that managers direct other employees to accomplish their goals as it is their responsibility to get things done in an effective and efficient manner. Efficiency can be defined as a ratio of output to input.

Getting maximum output with minimal input is the desire of every manager, while effectiveness is attaining the desired organizational goals, higher effectiveness leads to higher attainment. Both are equally important for an organization in today's environment.

Answer 8

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Answer 9

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Answer 10

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Answer 11

Ch. 1 - Prob. 1DT Ch. 1 - Prob. 2DT Ch. 1 - Prob. 3DT Ch. 1 - Prob. 4DT Ch. 1 - Prob. 5DT Ch. 1 - Prob. 6DT Ch. 1 - Prob. 1DQ Ch. 1 - Prob. 2DQ Ch. 1 - Prob. 3DQ Ch. 1 - Prob. 4DQ

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Chapter 1 Solutions