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On the effectiveness and efficiency in various sectors of economic activity

Author

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  • V. P. Solov'ev
  • T. A. Pereskokova
  • E. Yu. Shagaeva

Abstract

The article investigates the application of the terms «efficiency» and «effectiveness» for the assessment of industrial production and technological processes. It is common in this country to use the term «efficiency» without clear separation the achievement of objectives (effectiveness) and resources expended (efficiency). Such an approach make it difficult to identify possible inconsistencies arising when performing the processes and carrying out the necessary corrective or preventive actions, especially true in public institutions. The active policy of import substitution and development of innovative economy in our country will necessarily require the introduction of commonapproaches in the evaluation of progress and in comparisons between different sectors and countries.It is strongly recommended to apply these concepts in accordance with the standard GOST ISO 9000–2011.

Suggested Citation

  • V. P. Solov'ev & T. A. Pereskokova & E. Yu. Shagaeva, 2015. "On the effectiveness and efficiency in various sectors of economic activity," Russian Journal of Industrial Economics, MISIS, issue 1.
    • Handle: RePEc:ach:journl:y:2015:id:264
    DOI: 10.17073/2072-1633-2015-1-140-145
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