Efficiency (Means) Effectiveness (Ends)Resource GoalUsage AttainmentLow Waste High AttainmentManagement Strives For:Low resource waste (high efficiency)High goal attainment (high effectiveness)We have learnt that; a manager is someone who works with and through other people by coordinating theirwork activities in order to accomplish organizational goals. While performing, the manager has to keep inmind that he /she has to deal workers and other people around him in variety of situations.Mistakes Managers Make:A comparison of “arrivers,” those who made it all the way to the top of their companies, and “derailers,”those who were successful early but were knocked off the “fast track,” shows that although both groupshad talent and weaknesses, the “derailers” had some fatal flaws. Here are the top ten mistakes made byderailers.1. Insensitive to others: abrasive, intimidating, bullying style.2. Cold, aloof, arrogant.3. Betrayal of trust.4. Overly ambitious: thinking of next job, playing politics.5. Specific performance problems with the business.6. Over managing: unable to delegate or build a team.7. Unable to staff effectively.8. Unable to think strategically.9. Unable to adapt to boss with different style.10. Over dependent on advocate or mentor.Successful entrepreneurs have all the managerial and technical competencies along with some key personal attributes to take risk and win through the odd situations.