LE 01

 

In the very first session, we learned about the basics of management , i.e

Excellence = Efficiency X Effectiveness

Actually organizations are the place where EXCELLENCE can be seen in practicality. Excellence, which is seen as the product of efficiency and effectiveness is basically nothing but the amalgamation of these two very important factors needed to excel in any field or department or any activity.

Organisations are comprised of talented individuals and this is the attribute of these individuals which lead the organizations to attain excellence. For this to be attained, we have to tread the path of efficiency and effectiveness simultaneously, as none of them can be forgiven for the sake of other.

To understand this clearly, first of all we have to see what exactly efficiency & effectiveness are.

Efficiency leads to performing or functioning of any activity in the best possible manner with the least waste of time and effort,

Where as

Effectiveness is meant to accomplish a purpose and thus producing the intended or expected result.

Efficiency is more of an engineering term which can be attained by knowing the right procedure or process of doing the activity where as effectiveness inclining more towards management side which leads to know about the right activity to be performed so as to make an impact.

For example, we can look up at the launch of any product by an organization. Actually, what happens is the management looks at the trends followed in the past in a certain region and on that basis, they make up some strategies and come up with the decision to launch new products, catering to the needs of the people in that region, this is somewhat can be seen as effectiveness which gives the organization an opportunity to make an impact, provided efficiency is there while developing that product, i.e the producing it within less cost, less time and with less defect rate.

Then only, that organization can achieve excellence.