In: Economics
Organizational can be defined as the efficiency with which an association is able to meet its objectives. This means an organization that produces a desired effect or an organization that is productive without waste. Organizational effectiveness is about each individual doing everything they know how to do and doing it well; in other words organizational is the capacity of an organization to produce the desired results with a minimum expenditure of energy, time, money, and human and material resources. The desired effect will depend on the goals of the organization, which could be.
For example, making a profit by producing and selling a product. An organization, if it operates efficiently, will produce a product without waste.
Financial performance, long-term planning, internal structure, and adherence to core the values may all be critical components in understanding organizational effectiveness.
To get a clear idea of an organization's , it is important to create a clear list of criteria to assess. No two organizations will have the same list of criteria, which is why many for-profit and non-profit groups measure effectiveness through self-assessment. Employees and company personnel are often in the best position to intimately understand the needs, goals, and performance of their company. Self-assessment can also help company personnel reconnect with the initial mission of an organization. By working creatively to invent new business strategies for areas workers may develop a stronger sense of loyalty, purpose, and dedication to the job.
Human, Financial and Technological resources for creating competitive advantage. The organizational effectiveness also calls for that creating sustainable growth and development by taking care of not only the share holders' expectations but also the expectations of other stake holders. It also means that management takes the right ethical decisions in the interest of all the stake holders.