Differentiate between efficient and effective objectives
What will be an ideal response?
Efficiency means creating more output with the same inputs or the same output with fewer inputs.
An effective objective helps achieve organizational strategy. Efficiency objectives seek to conserve limited resources, whereas effectiveness objectives help achieve company strategies. In other words, effectiveness is doing the right things, whereas efficiency is doing things right. Objectives, unlike the other characteristics, are not mutually exclusive; processes can have effectiveness or efficiency objectives, or both.
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Which of the following is not a part of the job-seeking process?
a. exploring b. interviewing c. negotiating d. researching
Answer the following statements true (T) or false (F)
1. At the end of the year, Mary's supervisor asked her to record sales transactions for products that would not ship until the following year, and she complied. Mary has violated IMA ethical standards. 2. A company's organizational chart shows the relationships between departments and divisions and the managers that are responsible for each section. 3. Most companies structure their organizations along departments or divisions. 4. A company's president or chief executive officer (CEO) is selected by the stockholders. 5. Staff positions are directly involved in providing goods or services to customers.
Answer the following statements true (T) or false (F)
1.In a public setting, our own behavior, and our attempts to influence the behavior of others, must always be reduced to focus on meeting public objectives and community needs. 2.Despite the conventional wisdom that public employees crave the security and structure of bureaucratic jobs, public servants are people who are motivated by their desire to make a difference in the lives of others. 3.Economic efficiencies may be created by privatizing and contracting out functions. 4.Enhancing governmental performance should be considered within the normative context of non-democratic values.
Martin Company reported net income of $15,400 on gross sales of $85,000. The company has average total assets of $120,200, of which $105,000 is property, plant and equipment. What is the company's return on investment? (Round your answer to 2 decimal places.)
A. 70.72% B. 14.67% C. 18.12% D. 12.81%