Final answer:
Efficient and effective operations are important for small start-up companies. Efficiency involves maximizing output with minimum resources, while effectiveness focuses on achieving goals and meeting customer needs.
Step-by-step explanation:
In the context of the question, the term 'efficiently' refers to maximizing output with minimum resources, such as time or money. For example, Amy finished her projects by planning ahead, which allowed her to complete them in a timely manner. On the other hand, Allen is scrambling to finish his projects because he didn't manage his time effectively.
Similarly, in the context of a start-up company, operating efficiently means utilizing resources efficiently to minimize waste and increase productivity. This could involve streamlining processes, optimizing supply chain management, and reducing costs.
Operating effectively, on the other hand, refers to achieving the desired results or goals. For a small start-up company, operating effectively means meeting customer needs, delivering high-quality products or services, and maintaining customer satisfaction.