Abstract
The paradigmatic change that is emerging in modern western managerial thinking influences, among other things, the development of basic concepts in management, and radically changes their meaning. This change is not merely theoretical, and has many ramifications for existing management patterns and managers’ ability to improve the value of the organization they are in charge of. This is illustrated by the changing meaning of two concepts in the management literature and practice of organizations - effectiveness and efficiency. This article will attempt to examine and demonstrate the importance of effective management of the organization, and ways to achieve it.
Highlights
The paradigmatic change in big or small organizations that is emerging in modern western managerial thinking influences, among other things, the development of basic concepts in management, and radically changes their meaning
If the organization has both organizational effectiveness and efficiency, it will achieve its goal of making a profit by producing and selling a product without waste
The main measure of organizational effectiveness for a business will generally be expressed in terms of how well its net profitability compares with its target profitability (Galbraith, 2014)
Summary
The paradigmatic change in big or small organizations that is emerging in modern western managerial thinking influences, among other things, the development of basic concepts in management, and radically changes their meaning. This modern change is not merely theoretical, and has many ramifications for existing management patterns and managers’ ability to improve the value of the organization they are in charge of. This is illustrated by the changing meaning of two concepts in the management literature and practice of organizations - effectiveness and efficiency
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