From Chapter 13 “Efficiency” in Ingredients of Outliers. A Better Way Let’s take a closer look at exactly what we mean by “efficiency,” which is sometimes confused with the word “effectiveness.” Both words are used frequently in the management literature, and some dictionaries even show each as a synonym of the other. In fact, they have separate meanings.  Probably the most succinct statement about their difference came from the late Peter Drucker, the best known and most respected management consultant, educator and author of the twentieth century. Here’s what he said: “Efficiency is … [Read more...]