Large Firms
May 15, 2013
Efficiency is not the competitive advantage
Far too many firms only seem to be investing in efficiency - at the expense of being effective. By Patrick J. McKenna and Edwin B. Reeser
Efficiency in any firm, in and of itself, is not the competitive advantage. There is a big difference between being efficient and being effective. Far too many firms only seem to be investing in efficiency - at the expense of being effective.
Management thinker Peter Drucker addressed this topic decades ago in his book, "People and Performance":
"Efficiency means focus on costs. But the...
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