Effective vs Efficient: Do you know the difference?

Hey Friends,

Do you know the difference between Effective and Efficient?
These two terms are commonly used in business and marketing field.
However, many of us (including business or marketing students) always confused and mixed-up the meaning...So, whats the difference?

Below are the definition provided in Dictionary.com

Effective (adj.): Adequate to accomplish a purpose; producing the intended or expected result.
Efficient (adj.) Performing or functioning in the best possible manner with the least waste of time and effort.

If you want an easier way to memorize the difference, remember this sentence: “Being effective is about doing the right things, while being efficient is about doing the things in the right manner.”

For example: Terence is a very hard working student. Upon reaching to final exam, he studies and burns the mid night oil. He revises all the chapters covered by his lecturers...with no specific attention and effort to chosen topics. He is effective due to he is doing the right thing. But, does him doing the thing right? Questionable!


Another example: Fock Chen (a good friend of Terence) is rather smart. When final exam is reaching to the corner, he analyzes and fine tunes those topics that his lecturers mentioned that will be covered in final exams. He spends his sweet time to revise those chapters. Now, see...he is being efficient due to he is doing the thing right!  

A typical example of being effective is spraying  insect  (that you are not sure it will 100% be killed); being efficient is stepping the insect with your foot (of course...with protected slippers). With that way, you will make sure it dies!

So, rather being effective, I choose to be efficient! How about you?