There is a common misperception that being more efficient necessarily equates to being more cost effective. However, that relationship does not necessarily exist. While seemingly desirable to be more efficient, the benefits may not necessarily be cost reductions. In fact, depending on where the efficiencies are gained within a given process, higher costs may be incurred. Consequently, leaders must articulate their goals as a specific outcome to be achieved, cost reductions being one, and not simply as a desire to be more efficient.
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