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An international cloth manufacturing company requires less labor hours and inputs to manufacture its products as compared to its competitors. However, the company always fails toachieve its target production: a) Do you think company is effective and efficient in its working? b) Can the company be successful in the long run?
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An international cloth manufacturing company requires less labor hours...
Efficiency vs Effectiveness:
Efficiency and effectiveness are two different aspects of a company's performance. While efficiency focuses on minimizing inputs and maximizing outputs, effectiveness is about achieving the desired goals and objectives.
a) Efficiency:
- The company being able to manufacture its products with fewer labor hours and inputs compared to competitors indicates a certain level of efficiency in its operations.
- However, the fact that it fails to achieve its target production suggests that there may be some inefficiencies in the production process, such as bottlenecks or inefficiencies in resource allocation.
b) Effectiveness:
- Despite being efficient in terms of labor hours and inputs, if the company is not able to meet its production targets, it may not be considered effective in its working.
- Effectiveness is about achieving goals and objectives, and if the company consistently falls short of its production targets, it may indicate a lack of effectiveness in its operations.
Long-Term Success:
- In order to be successful in the long run, the company needs to address both its efficiency and effectiveness.
- The company should identify and eliminate any inefficiencies in its production process that are preventing it from reaching its production targets.
- It should also focus on setting realistic and achievable production goals that align with market demand and the company's capabilities.
- By improving both efficiency and effectiveness, the company can position itself for long-term success in the competitive cloth manufacturing industry.
Efficiency and effectiveness are two different aspects of a company's performance. While efficiency focuses on minimizing inputs and maximizing outputs, effectiveness is about achieving the desired goals and objectives.
a) Efficiency:
- The company being able to manufacture its products with fewer labor hours and inputs compared to competitors indicates a certain level of efficiency in its operations.
- However, the fact that it fails to achieve its target production suggests that there may be some inefficiencies in the production process, such as bottlenecks or inefficiencies in resource allocation.
b) Effectiveness:
- Despite being efficient in terms of labor hours and inputs, if the company is not able to meet its production targets, it may not be considered effective in its working.
- Effectiveness is about achieving goals and objectives, and if the company consistently falls short of its production targets, it may indicate a lack of effectiveness in its operations.
Long-Term Success:
- In order to be successful in the long run, the company needs to address both its efficiency and effectiveness.
- The company should identify and eliminate any inefficiencies in its production process that are preventing it from reaching its production targets.
- It should also focus on setting realistic and achievable production goals that align with market demand and the company's capabilities.
- By improving both efficiency and effectiveness, the company can position itself for long-term success in the competitive cloth manufacturing industry.
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An international cloth manufacturing company requires less labor hours and inputs to manufacture its products as compared to its competitors. However, the company always fails toachieve its target production: a) Do you think company is effective and efficient in its working? b) Can the company be successful in the long run?
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An international cloth manufacturing company requires less labor hours and inputs to manufacture its products as compared to its competitors. However, the company always fails toachieve its target production: a) Do you think company is effective and efficient in its working? b) Can the company be successful in the long run? for Class 12 2024 is part of Class 12 preparation. The Question and answers have been prepared according to the Class 12 exam syllabus. Information about An international cloth manufacturing company requires less labor hours and inputs to manufacture its products as compared to its competitors. However, the company always fails toachieve its target production: a) Do you think company is effective and efficient in its working? b) Can the company be successful in the long run? covers all topics & solutions for Class 12 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for An international cloth manufacturing company requires less labor hours and inputs to manufacture its products as compared to its competitors. However, the company always fails toachieve its target production: a) Do you think company is effective and efficient in its working? b) Can the company be successful in the long run?.
An international cloth manufacturing company requires less labor hours and inputs to manufacture its products as compared to its competitors. However, the company always fails toachieve its target production: a) Do you think company is effective and efficient in its working? b) Can the company be successful in the long run? for Class 12 2024 is part of Class 12 preparation. The Question and answers have been prepared according to the Class 12 exam syllabus. Information about An international cloth manufacturing company requires less labor hours and inputs to manufacture its products as compared to its competitors. However, the company always fails toachieve its target production: a) Do you think company is effective and efficient in its working? b) Can the company be successful in the long run? covers all topics & solutions for Class 12 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for An international cloth manufacturing company requires less labor hours and inputs to manufacture its products as compared to its competitors. However, the company always fails toachieve its target production: a) Do you think company is effective and efficient in its working? b) Can the company be successful in the long run?.
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