Trade-off decisions between effectiveness and efficiency are important in the practice of strategic management.

Name: Trade-off decisions between effectiveness and efficiency are important in the practice of strategic management.
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Question

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The fourth attribute of strategic management is that it involves the recognition of trade-offs between effectiveness and efficiency. Some authors have referred to this as the difference between doing the right thing (effectiveness) and doing things right (efficiency).

Trade-Off Decisions Between Effectiveness and Efficiency Are Important in the Practice