Effectiveness is defined as the degree to which something is successful in producing a desired result; success. Managers need to appreciate the way each affects an organization. One measure of maintenance efficiency is total maintenance costs compared to replacement asset value RAV. Some refer to this as equipment replacement value ERV.
It is defined as the monetary value that would be required to replace the current assets in the organization. It includes production and process equipment, as well as utilities, support, and all related costs. For example, in the past 12 months, I have had some maintenance expenses. Based on these expenses, the ratio of total maintenance costs to RAV is 3. Managers are responsible for determining the most appropriate mix of physical asset policies, work management, and reliability improvement processes to reduce the costs of non-value added or recurring expenses.
In my example, some expenses might be considered capital expense or improvements. Perhaps I purchase a higher quality shingle, for example. An efficient manager is one who uses limited resources to get the job done in a more professional manner; They want immediate results. Efficiency avoids mistakes and likes to take repeated steps to achieve a goal. Although, one is often attainable only at the expense of the other. While some do a good job of balancing the two, others view one lens more than the other.
Effectiveness vs Efficiency — which one is more important? The desire to launch new products, optimise existing offerings, provide feature enhancements occupy a large mindshare of people who then rush through decisions without managing to determine how all this work lines up to the goals and vision of the organisation and their team. Efficiently doing things that should not be done at all leads to failures as people waste time doing the wrong things with less time left to do the right things.
In keeping with the technological advancements, changing environment and global competition, successful organisations need to spend all of their time and energy in doing Right Things Right. In other words, doing work that aligns with the goals of the company and doing it efficiently. Effectiveness trumps efficiency. Identifying what needs to be done comes first effectiveness and then we need to find a way to do it efficiently.
Intelligence, imagination, and knowledge are essential resources, but only effectiveness converts them into results. By themselves, they only set limits to what can be attained.
To be reasonably effective it is not enough for the individual to be intelligent, to work hard, or to be knowledgeable. Effectiveness is something separate, something different. But to be effective also does not require special gifts, special aptitude, or special training. Practice effectiveness until it becomes a habit.
Effectiveness can be learned—and it also has to be learned. Effective leaders develop a new way of working by tuning in to outside reality and not only what happens within the bounds of an organisation.
They visualise and design the big picture in their mind first and then create a narrative for everyone to align their work to it. Effective leadership requires discipline and practice much like any other habit building. In particular, they commit to practicing these:. Effective leaders execute from a place of trust, understanding, learning, contribution, courage and not from fear, ego, control, perfectionism.
They value integrity and respect people who have the desire to do the right thing. They do not involve in wordsmithery or other pretentious mechanisms to achieve what they want. They believe in contribution and inspire others by themselves being a part of it.
Doing one thing right is more important than doing many things wrong. Effective leaders set priorities well and do first things first. They avoid crisis by planning for the future, spend time on activities that have long term benefits and steer clear of work that does not align with their goals.
Effective leaders learn to do the right thing through self awareness and acceptance of their blind spots. Their attitude to share information, encourage and solicit feedback and value different viewpoints helps them in making the right decisions that are congruent with their goals.
Establishing long term strategy and determining goals that will move business and organisation to the next level requires focused thinking and decision making. Such proactiveness requires dedicated blocks of time without interruption. Therefore, the effective leaders identify where their time goes and take control of it by cutting back on areas which place unnecessary demands on their time.
Our AI resume builder helps you write a compelling and relevant resume for the jobs you want. Effectiveness should be the first priority of any business, followed by developing efficient practices. Clearly, delivering a tasty treat is more important than baking it efficiently. In the same vein, businesses should strive only to perform tasks that effectively promote profits and growth. The biggest issue with prioritizing efficiency over effectiveness is that people may never actually perform their tasks because they become stuck trying to optimize how they complete it.
It is essential first to learn how to perform a task, even if your methods are not optimal. Then, you can iterate and improve, making the completion of your effective task more efficient.
The first step in making a productive company is focusing on effectiveness, even at the cost of efficiency. Once a business puts effective practices in place, the company can begin making those practices more efficient. Build a professional resume in minutes. Browse through our resume examples to identify the best way to word your resume.
An effective leader looks outside the bounds of his or her company to the bigger picture. He or she sets expectations that individuals can easily align with their work practices. It takes discipline and long-term thinking to be an effective leader.
Following these tips can make your leadership more effective:. Do the right things. Sounds simple, we know, but doing the right things poorly is more important than doing the wrong things well. Effective leaders manage their workers , so they spend time only on work that aligns with broader corporate goals. Seek feedback. Effective leaders are aware of their blind spots. They value contributions from employees who have ideas on developing more effective methods and inspire others to create ideas that can aid the company.
Hire and develop the right people. Effective leaders invest in recruitment strategies that attract top talent. Corporate goals are all fine and well, but they take several departments and countless individuals to actualize. Effective leaders know how to encourage collaboration and communication so that all workers understand what their broader goals are and where they fit into those goals.
Manage time. Effective leaders maximize their time by focusing on long-term strategies and determining corporate goals. Make decisions.
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