МЕНАЏИРАЊЕ СО ЕФИКАСНОСТ И ЕФИКАСНОСТ ВО КОМПАНИИТЕ
MANAGING EFFICIENCY AND EFFECTIVENESS IN COMPANIES

Summary/Abstract: The purpose of this paper is to theoretically consider the concepts of efficiency and effectiveness as a key factor in organizational success. In business, the concepts of efficiency and effectiveness mean success for companies. There is a synergistic connection between these two concepts, so when we talk about efficiency, we also mean effectiveness. Efficiency and effectiveness are mutually related. Efficiency refers to the rational use of resources and optimization of processes, while effectiveness measures the degree of achievement of set goals and results. The paper takes into account modern approaches to measuring and improving human professional labor, as well as the factors that influence its productivity individual, organizational, technological and institutional. Effectiveness, in its simplest form, means doing the right things in a unique special way, i.e. effectiveness refers to the selection of business activities and the activities of the entrepreneur that will bring maximum results with a minimum of commitment and energy. Efficiency, in its simplest form, means doing things the right way, in fact, efficiency refers to the way of performing business activities, by reducing or minimizing and even completely eliminating unnecessary activities within the framework of operational engagement. Technological progress and the development of artificial intelligence have a particular impact on efficiency and effectiveness in modern organizations companies in modern business conditions. Efficiency and effectiveness are interconnected, but not identical categories. Efficiency represents the rational use of resources, while effectiveness measures success in achieving goals. Human labor, as a bearer of specialized knowledge and competencies, is a key element in ensuring organizational competitiveness. In order to achieve an optimal balance between efficiency and effectiveness, organizations need to integrate technological solutions with human resource strategies, continuous training and motivation of professional staff. Based on contemporary foreign literature. The conclusion of the paper is that achieving a balance between efficiency and effectiveness is a prerequisite for long term sustainability and competitiveness in the market and for the success of companies

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