_____ Refers To Minimizing The Resources An Organization Must Spend To Achieve A Specific Level Of Desired Exchanges | _____ Is Using The Least Possible Amount Of Resources To Get Work Done

_____ Refers To Minimizing The Resources An Organization Must Spend To Achieve A Specific Level Of Desired Exchanges | a. Effectiveness b. Productivity c. Efficiency d. Objectivity e. Cost-cutting _____ Is Using The Least Possible Amount Of Resources To Get Work Done
Answers Of MCQs And Fill In The Blank

The correct answer of this mcq is (c) and fill in the blank is also the same word, as “Efficiency” is using the least possible amount of resources with minimum cost to get the work done or output without lacking quality work. It is very important for the organization to utilize its resources efficiently in order to avoid wastage of resources such as time, money, experiences, skills, efforts, etc., and get the maximum or optimum / best outcome or achieve organizational objectives & goals with minimum cost or with minimum efforts.

If the end results are not up to the mark, then it means that the manager has not chosen the right strategy to achieve organizational goals. So, right things should be done to get desired or atleast the best results / exchanges which show effectiveness of the jobs done. Due to efficiency, the organization is able to produce the best output, reduce cost with the utilization of minimum resources.

The option a is incorrect choice, as effectiveness are the end results and not the way to do to get the job done. If the organization wants to increase performance, its productivity, tasks completed on time, etc., then it must focus on improving the efficiency to achieve organizational objectives & goals. In an organization, with the use of technology, the working performance can be improved which decreases work load on employees. Due to the completion of works and services efficiently, the customer satisfaction is also increased as they experienced quick response and get fastest delivery of their works, products or services.

The option b is also not the correct option as the productivity is the process of converting inputs into outputs while efficiency is the best use of resources to get better results.

The option d is also wrong option, as objectivity means to see the situation in a realistic manner and not give biased opinion on it.

The option e is also incorrect as cost-cutting means to reduce the cost / expenses to increase profitability.

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