In a short essay, explain through examples how a process can be (a) efficient but not effective and (b) effective but not efficient

What will be an ideal response?

Answer: (a) Efficient but not effective: A craftsman building a wooden table may be highly efficient in the way he uses his time, energy, and wood in producing his product. However, despite this efficiency, the craftsman may still end up with a rickety table, thereby not fulfilling his goal of building a strong, sturdy table and failing to be effective.

(b) Effective but not efficient: A craftsman may be inefficient and waste a great deal of time, energy, and wood in building a table. However, the table itself can turn out to be strong, sturdy, and beautiful, thereby fulfilling the goal of the process and qualifying the craftsman as effective.

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A danger that an adjustable-rate mortgage poses to a buyer is

a. higher payments if interest rates increase. b. a longer payment period if interest rates increase. c. that the margin will increase. d. none of these.

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________ represent choices the decision maker can control

Fill in the blanks with correct word

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