Final answer:
'Effectiveness' is often defined as doing the right thing (option c) to achieve stakeholder satisfaction, while 'efficiency' refers to the effective use of resources to achieve desired outcomes.
Step-by-step explanation:
'Effectiveness' is often defined as doing the right thing. This definition aligns with the concept of stakeholder satisfaction, as stakeholders expect organizations to meet their needs and expectations. By doing the right thing, organizations can ensure stakeholder satisfaction and effectively achieve their goals. 'Effectiveness' is different from 'efficiency,' which refers to the measure of the input of energy to do work.
For example, if a company produces high-quality products that meet customer demands and expectations, it can be considered effective. However, if the company uses inefficient processes and wastes resources, it may not be deemed efficient.
In summary, 'effectiveness' is about doing the right thing and satisfying stakeholders, while 'efficiency' is about using resources effectively to achieve desired outcomes.