1. What is organizational performance and what is its relationship with efficien
ID: 393833 • Letter: 1
Question
1. What is organizational performance and what is its relationship with efficiency and effectiveness? 2. What are the building blocks of competitive advantage? Why is gaining a competitive advantage important to managers? 3. Identify and bricñly define the thre major types f managerial skilli. 4. Describe the relationship between ethics, law and business. Explain why customers are considered to be the most critical stakeholder group. 5 6. Summarize the reasons why managers should behave ethically. 7. Describe the four ethical rules or principles and discuss their managerial implications. 8. Ex plain briefly a task environment. What effect does it have on managers? 9. The barriers to entry result from three sources. Explain in brief the three sources 10. What do economic forces include? How do they affect the general environment of the organization? What are the challenges that they present to managers?Explanation / Answer
1.
Organizational performance is nothing but how well organization is functioning to achieve its goal, vision and mission. Making profit in any business is very important for business leaders which determines the organizational performance. However, there are other measures of organizational performance is organizational culture.
Efficiency can be achieved if things are done in right way and effectiveness is achieved if right things are done. An individual who is efficient will do things quickly and intelligently and an individual who is effective will do things at a high level.
Performance excellence refers to managing organization performance effectively by continuously improving the value to the customers and stakeholders, focusing on sustainability management and improving the efficiency and effectiveness of the organization. Organization that is able to excel on both dimension of the performance :efficiency and effectiveness can be termed as a high-performance organization.
Being efficient and effective are very important for organizational performance. Employees who are efficient will result in increased productivity and employees who are effective will result in improving the quality of performance of the organization. Efficient and effective workforce and management is essential in this competitive world. An organization with efficient and effective workforce offer prompt and quality customer service and cope up with changing situation. They take up challenge and focus on meeting the goals of the organization.
In order to survive in today's business environment, companies should focus on being effective, efficient and proper system maintenance. Effectiveness can be achieved through productivity, quality, etc. and efficiency can be achieved by making the employees participate actively. Company should focus on maintenance prevention system and other factors such as benchmarking, time based competition, etc.
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