Operational Efficiency and Effectiveness is a crucial business metric that measures the effectiveness of operations and processes against specific benchmarks. It involves analyzing the cost, speed, and quality of an operation in order to determine whether it’s running as optimally as possible. To increase operational efficiency and effectiveness, businesses must evaluate their current performance levels and identify areas for improvement. This can range from reducing costs to increasing productivity, from increasing flexibility to improving customer service – all in an effort to ultimately create more value for stakeholders. Ultimately, operational efficiency and effectiveness are ways to maximize resources while maintaining quality, allowing businesses to stay competitive in their respective markets.