The question needs context. if the things being done are repetitive, they can be reduced to a process and done efficiently and in the limit also taken to the point of automation. if things are creative by nature, or one-offs, then effectiveness must be the order of the day. all of this clearly assumes that only those things are being done that are appropriate and directly relevent to the business. no one is interested in the most efficient or effective answers or processes if they do not add value to the business.
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The question needs context. if the things being done are repetitive, they can be reduced to a process and done efficiently and in the limit also taken to the point of automation. if things are creative by nature, or one-offs, then effectiveness must be the order of the day. all of this clearly assumes that only those things are being done that are appropriate and directly relevent to the business. no one is interested in the most efficient or effective answers or processes if they do not add value to the business.