Answer:
In business, efficiency means how well you use available resources in order to maximize results (or profits if you like). Effectiveness, on the other hand, refers to how well your company is carrying out is activities, e.g. high quality of your products, high customer satisfaction.
If I managed a car wash, I could measure efficiency by how many cars are washed per hour. Or how do our costs per car washed lower as the total amount of cars washed increases.
If I wanted to measure effectiveness, I would need to measure how well do we wash the cars, e.g. is our service excellent, good, regular, or bad. Our customers are satisfied with the way we wash their cars or not.
The difference between effectiveness and efficiency is that effectiveness corresponds to doing the task right, at the right time, and reaching established goals.
Efficiency, on the other hand, corresponds to optimizing tasks, making the process easier, faster and with reduced costs. So there is a way for a business to be effective without being efficient.
At a local car wash, an effective manager is one who knows how to manage his team to produce better results with existing resources, through quality of work, increased productivity and customer service.
It is also possible to measure the effectiveness of the location based on the achievement of goals, such as the number of cars washed in a day, cash flow, etc.
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