Business

Management of a company may face many challenges and complex situations may arise.

some of the challenges that management may face are listed below.

The need for vision

• New technologies
• Changing economy
• Gl...

Efficiency

Efficiency involves getting the most output from the least amount of inputs, i.e. doing things right.

It is a measure of how well resources are used to achieve a goal; usually managers must try to minimize the input of resources to attain same goal.

Effectiveness