Chapter 1 Efficiency-the means, use resources (people, money, materials) wisely and cost effectively Effectiveness-the ends, achieve results, to make the right decisions, and successfully carry them out to achieve goals 1.2 Six Challenges to Being a Star Manager Competitive Advantage: ability of an organization to produce goods or services more effectively than competitors, outperforming them 1. Being Responsive to Customers 2. Innovation – Introduction of something new or better, as in goods or services. 3. Quality 4. Efficiency Diversity: US becoming half minority Globalization: gestures and symbols have different meanings Information Technology: 1. Internet- Global network of independently operating but interconnected computers, linking hundreds of thousands of smaller networks around the world.- lowers costs of communication 2. E-commerce- Electronic commerce; the buying and selling of goods and services over computer networks. 3. E-Business- Using the Internet to facilitate every aspect of running a...