| Efficiency |
= |
minimizing waste of resources
(Specifically time and money) |
| Effectiveness |
= |
maximizing results from resources and efforts |
Areas of inefficiency are identified and are diminished or replaced with
systems and with improved organization. Efficiency reduces waste of time,
money and other resources. This allows effectiveness to increase by reallocating
time to activities that directly impact results.
Only when people achieve a high level of efficiency are they able to
enjoy effectiveness. Improved effectiveness results from having the time
to do the things that directly produce revenue.