How efficient is your organization ?
Are you doing things right? EFFICIENCY
Also are you doing right things? EFFECTIVENESS
Efficiency is the (often measurable) ability to avoid wasting materials, energy, efforts, money, and time in doing something or in producing a desired result. In a more general sense, it is the ability to do things well, successfully, and without waste.
Efficiency is very often confused with effectiveness. In general, efficiency is a measurable concept, quantitatively determined by the ratio of useful output to total input.
A common but confusing way of distinguishing between efficiency and effectiveness is the saying “Efficiency is doing things right, while effectiveness is doing the right things.”
I would like to hear from you how efficient was your factory yesterday? Please state the exact percentage.