Efficiency – one of the basic principles of economic operations and a significant part of the management. Performance is the use of minimum resources (physical, financial, material, human and organizational) to produce the desired volume of production. For example: if you get a greater exit for a given entrance, then it is about increasing efficiency. Also, if the same exit is achieved with a smaller entry, it is about increasing efficiency. Managers are interested in efficient use of resources and minimizing costs. They are not only interested in efficiency only for effectiveness. When the manager will accomplish the goals of the organization, it is said to be effective. The high level of efficiency has an impact on the high level of effectiveness. The bad management is most often due to ineffectiveness in achieving goals and inefficiencies, the irrational spending of resources. The management effectiveness is in close connection with the quality of corporate governance – a domain in which RM is faced with significant problems. Lit.: Bobk Sugarv, Management, Fourth Edition, Skopje, 2004. B. w.
Original article in Macedonian language Cyrillic alphabet
Кириличен напис ЕФИКАСНОСТ