Over the long run, a firm must choose to either be effective or efficient, because it is impossible to achieve both objectives consistently within the same organization.

Question

Quizplus · Accepted Answer

While there may be trade-offs between effectiveness and efficiency, it is not impossible for a firm to achieve both objectives consistently within the same organization. In fact, many successful companies strive to be both effective and efficient in order to remain competitive in the marketplace.

Over the Long Run, a Firm Must Choose to Either