ORGANISATIONAL PERFORMANCE AND ITS RELATIONSHIP WITH EFFICIENCY AND EFFECTIVENESS:
Organization performance means how successfully an organized group of people is performing a function with a particular purpose. It is analyzed by three specific outcome of a company which includes, financial performance, product market performance and shareholder return. So basically, this is an analysis of company’s performances compared to its goals and objectives.
Efficiency means performing or functioning in the best possible way with least waste of time and effort. It mainly focus on both the inputs and outputs, short run time, strategic implementation etc.
Effectiveness means accomplishing the purpose by producing the intended result by any means. It mainly focus on the accurate intended end result, long run time, strategic formulation etc.
Efficiency and Effectiveness both plays important role on organizational performance as Efficiency clearly focus on reducing expenses and elimination unnecessary wastage to achieve the output and Effectiveness focus on making strategies and choosing best means for the required result which helps in performance growth of organization.
