Managerial Economics – BBA2194 Group project and Presentation You and your team are economic analysts for Global Investment Research (GIR) Pvt Ltd ‚ an International Investment consulting group based in the US. GIR has branches in 20 countries and is the leading consultant for International investors who are willing to invest large sums of money in a country. A consortium which consists of a group of investors from the oil rich Gulf States are keen to invest in a country with an emerging economy
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primary difference is efficiency is productivity concerned while effectiveness is quality concerned. In other words‚ efficiency refers to how much resource (time‚ money‚ materials and effort) required in accomplishing a task. Effectiveness refer to how well the job gets done‚ i.e.‚ the output quality‚ zero defects. “Efficiency” is getting things done‚ it is not trying and it is not having ability. In other words‚ “efficiency” is actually accomplishing. It is execution. “Effectiveness” is also getting
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Qn: In today’s global environment‚ why are eco-efficiency and eco-effectiveness important to organizations In recent years‚ much emphasis has been put on the importance of eco-efficiency and eco-effectiveness due to raising concern of global warming and the environment in general. Basically‚ eco-efficiency means reducing the environmental impacts of goods and resource intensity throughout the entire life cycle to a level at least in line with the Earth’s estimated carrying capacity; while at
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Effectiveness is more important than efficiency? Joel Fleming – Affirmative The following theory was first propounded in ’ (Samson‚ D & Daft 2012‚ p. 17) “Effectiveness is the degree to which the organisation achieves a stated goal. It means that the organisation succeeds in accomplishing what it tries to do. Organisational effectiveness means providing a product or service that customers value. Organisational efficiency refers to the amount of resources used to achieve an organisational goal
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Pakistan tobacco Company Ltd 2012 Efficiency and effectiveness of IT in Production and Supply chain Systems and Operations Management Aleem Arif www.ptc.com.pk Pakistan tobacco Company Ltd 2012 Efficiency and effectiveness of IT in Production and Supply chain Systems and Operations Management Aleem Arif www.ptc.com.pk Table of Contents Executive Summery2 Introduction2 Value Chain3 Competitive Advantage5 Production Process Structure6 Process Analysis and Design7 Supply Chain Design8
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Efficiency and Effectiveness of Wind Power Generation With the reckless energy demand in the 21st century and the growing of global warming‚ which made by environmental pollution‚ energy supply has become the constraint and an obstacle to the economic development of many countries. To solve these kinds of puzzles‚ which can respond to the climate and energy challenges.‚ people now pay more attention to all kinds of new type of renewable energy‚ which is good ecologically. Wind power is one of
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of employees‚ the equal benefits‚ customer service and quality to meet customer demand‚ leading technology‚ quality of survival‚ to the credibility of development Enterprise target: hope to make your company the best steel plant the highest efficiency‚ global quality‚ even in suffering from foreign competition by the iron and steel industry‚ also can do employee job security‚ the development of the company thriving‚ while maintaining low cost to create the world’s first class. External opportunities:
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Discuss the role of efficiency and effectiveness in the creation of value This requires a definition of value‚ a relationship between quality or performance of a product and its price and discussion of the trade-off between efficiency and effectiveness. Creating value means striking the most appropriate balance between efficiency and effectiveness for the market need the product will satisfy. Efficiency means doing something at the lowest possible cost. It is optimizing the use of all your resources
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Effectiveness x Efficiency = Results. The above formula which is usually used for high performance always baffled me. I often get confused with both the terms as to what these words mean & hence extremely curious enough to know as to what these words actually mean in management parlance. After going through some of the texts‚ books I could really gather what these words stands for and what is the exact meaning of this particular word in the context of the management. If both these words are understood
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Alexander was both effective and efficient in his war against Darius. Although‚ low in numbers he utilize what he had as well as strategically planned for the battle he and his men were facing. Systems Approach (2007) defines being effective as getting the job done. While being efficient is the approach in which you get the job done (Systems Approach‚ 2007). Such as‚ the time‚ money and people a person utilizes to get the job done. The less of the resources used the more efficient it one is considered
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