I came across a strong post today from the E-Valuation of Information Systems blog about the vital difference between effectiveness and efficiency. Especially helpful to me were the compare / contrast columns of words associated with effectiveness and efficiency. I love lists like this and I use them as shorthand for recognizing the modes people operate in.

So when you’re talking about your business, do you talk about what you do or how you do it? What sets you apart from your competitors?

It seems to me the right answer is not one (effectiveness) or the other (efficiency), but rather applying the right mode of thinking to the right situation. The right approach needed in a certain context. Big shifts and big assignments require a more strategic approach focused on effectiveness, while smaller, incremental shifts require a more tactical approach focused on efficiency.