What’s the difference? Ignoring textbook definitions, it essentially comes down to doing the right things (effective) and doing things right (efficient).
In the context of growth, that difference can be critically important.
Let’s say your short term growth strategy is focused on securing a steady stream of new clients. What’s the first thing you’d do to make that happen?
Probably not set about re-engineering processes to make them really slick.
Wouldn’t you be better off making sure you were offering the right services to the right clients at the right price? And worrying about making service delivery seamless, using the right technology solutions, once you had clients to deliver to?
We think so.
As Peter Drucker said….
“There is nothing so useless as doing efficiently that which should not be done at all.”