Title: Efficiency, effectiveness, and productivity of strategy: a step towards integrating strategic management literature

Authors: Nasser Motahari Farimani

Addresses: Faculty of Economics and Business Administration, Ferdowsi University of Mashhad, Mashhad, Iran

Abstract: Even though the terms efficiency and effectiveness are widely used in strategy literature, inaccurate usage of these words is still frequent. We strived to conceptually analyse the two criteria of strategy selection, i.e., compatibility with goals and with circumstances to obtain standard and operational terms for them. Subsequently, we created a bond between the two criteria of strategy selection and the concepts of effectiveness and efficiency, and thus ultimately defined 'strategy effectiveness' and 'strategy efficiency'. The resultant strategy effectiveness and efficiency were introduced as the index of productivity, which signifies the ultimate utility of a strategy.

Keywords: strategy selection; effectiveness; efficiency; productivity; compatibility.

DOI: 10.1504/IJMCP.2024.142322

International Journal of Management Concepts and Philosophy, 2024 Vol.17 No.4, pp.458 - 473

Received: 12 Jul 2023
Accepted: 18 Jul 2023
Published online: 21 Oct 2024 *

Full-text access for editors Full-text access for subscribers Purchase this article Comment on this article