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Nature and Significance of Management — Business Studies STD 12 Commerce — Question

CBSE BoardEnglish MediumSTD 12 CommerceBusiness StudiesNature and Significance of Management1 Mark
Question
Clarify the terms efficiency and effectiveness in management.
✓

Answer

Efficiency refers to do the job in a cost effective manner. Effectiveness refers to complete the job on time, no matter whatever is the cost.

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