Practicing Success

Target Exam

CUET

Subject

Business Studies

Chapter

Nature and significance of Management

Question:
Which of the following is true?
Options:
If by using less resources (i.e., the inputs) more benefits are derived (i.e., the outputs) then efficiency is said to be increased.
If by using less resources (i.e., the inputs) more benefits are derived (i.e., the outputs) then effectiveness is said to be increased.
Both of 1 and 2 are correct
None of the above
Correct Answer:
If by using less resources (i.e., the inputs) more benefits are derived (i.e., the outputs) then efficiency is said to be increased.
Explanation:
Effectiveness in management is concerned with doing the right task, completing activities and achieving goals. In other words, it is concerned with the end result. Efficiency means the work has been done at the least cost.