- Effectiveness
- Efficiency
- Output
- Production
Correct Answer is : B
Explanation:
That’s correct! The answer is B. Efficiency.
Here’s why:
- Effectiveness: This refers to achieving the desired outcome or goal. Resources can certainly contribute to effectiveness, but it’s a broader concept. Even with limited resources, an organization can be effective if it uses them strategically to achieve its goals.
- Efficiency: This focuses on doing things with minimal waste of time, resources, or money. Organizational resources like equipment, personnel, and budget directly impact efficiency. Having the right resources and using them effectively allows an organization to produce more output with less input.
- Output: This simply refers to the quantity of goods or services produced. Resources can influence output, but it’s not the only factor. Efficiency also plays a role in determining output.
- Production: This term is similar to output and focuses on the creation of goods and services. While resources are needed for production, efficiency again comes into play to maximize production with available resources.
Therefore, efficiency best captures the concept of how well organizational resources are utilized to minimize waste and maximize output.
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