what is the difference between operational efficiency and informational efficiency?
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Operational efficiency requires that transaction costs are low and do not hinder investors in the sale or purchase of securities. Informational efficiency means that relevant information is widely available to all investors at low cost.
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Technical efficiency in production means that as few inputs as possible are used to produce a given output. Economic efficiency means using the method that produces a given level of output at the lowest possible cost.
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Effectiveness is about doing the right task, completing activities and achieving goals. Efficiency is about doing things in an optimal way, for example doing it the fastest or in the least expensive way. It could be the wrong thing, but it was done optimally.
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Intuitively anyone recognizes the contrast between operational and strategic: “Operational” is something that helps things to work smoothly today, and requires constant attention, while. “Strategic” is something from the world of top managers, defined for a longer-term, often less tangible, but still very important.
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Efficient (adj.) – Performing or functioning in the best possible manner with the least waste of time and effort. The difference between effectiveness and efficiency can be summed up shortly, sweetly and succinctly – Being effective is about doing the right things, while being efficient is about doing things right.
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Efficiency vs Quality. Efficiency is the output you get for a unit of input. Quality is the value of products and services to customers. Efficiency and quality are a common business tradeoff as it is often possible to make short term gains in efficiency by cutting quality.
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Summary: Productive efficiency is concerned with the optimal method of producing goods; producing goods at the lowest cost. Allocative efficiency is concerned with the optimal distribution of goods and services.
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As adjectives the difference between operative and effective is that operative is effectual or important while effective is having the power to produce a required effect or effects.
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Put simply, productivity is the quantity of work produced by a team, business or individual. Efficiency, on the other hand, refers to the resources used to produce that work. So, the more effort, time or raw materials required to do the work, the less efficient the process.
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Speed (or velocity, if you prefer) is how quickly you can accomplish a task. Efficiency is a comparison -- a ratio -- of the useful work performed by a machine or in a process to the total work needed to complete a process.
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Being efficient implies the system is operating the 'right' way. The relationship between effectiveness and efficiency is that effectiveness is a measure of 'goodness' of output, while efficiency is a measure of the resources required to achieve the output.
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Strategic Planning takes into account the internal as well as the external environment of business. Conversely, Operational Planning is concerned with the internal environment of business. Strategic Planning is done by top level management, whereas the Operational Planning is a function of middle-level management.
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The informational report is one that contains only facts and data. ... The analytical report, on the other hand, contains facts and data, but it also provides an analysis of this information and offers recommendations for solving a problem or making a business decision.
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The basic difference between both concepts is that while first law efficiency solely relates to the specific technology applied in order to satisfy certain tasks, for example, illumination and space heating, the concept of second law efficiency takes into account both the actual technology employed and the technology ...
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There are two main conditions to achieve economic efficiency: a) To attain economic efficiency, all the activities should generate more benefits as compared to the cost. Failure to minimize cost will lead to a loss of potential gains.
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As adjectives the difference between thorough and efficient is that thorough is painstaking and careful not to miss or omit any detail while efficient is making good, thorough, or careful use of resources; not consuming extra especially, making good use of time or energy.
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"Efficacy" refers to the ability of achieving certain results in certain conditions, whereas "efficiency" defines the ability to obtain the best possible results with the minimum waste of resources.