What does efficient mean?
Efficient refers to being purposeful and means ensuring that an effort is carried out with as little time or money as possible. A measure may sometimes be efficient, but not always effective.
Effective stands for being successful in producing a desired result and means that an effort ensures the goal is achieved.
Within an organization, effective and efficient processes contribute to sustainability. This is because it leads to the least loss of time, energy, money, and resources/materials.
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Also read Successful entrepreneurship can be learned.