Efficiency means getting the desired results in quick time with optimal use of the resources. In engineering language, it is the art of getting maximum output. So ideally efficiency can be 1 (100%) but practically it will be little less that 1 as some resources are wasted in overcoming the friction / obstacles.
Effectiveness means the degree to which something is successful in getting the desired results.
In short, efficiency means doing the things in right way and effectiveness means doing the right thing. Efficiency is more related to getting result in quick time whereas the effectiveness is more related to the impact of the thing or activity. Efficiency is the quantitative term whereas effectiveness is the qualitative term.
Nature has the good answer to show the difference. Nature always follow the effective path which may not be efficient. The leaf falling down from a tree follows the spiral path, and not the straight path. If it fall down in straight path, it will take the least time to reach the ground and it will be efficient path. But the leaf follows the spiral path, which is the path of least resistance. This path creates least disturbance in the surrounding as well as to itself and it is the effective way.

Even the path creeper plant climbs on the support is not the straight path(efficient) but its spiral which provides more support, which is effective.

Even the path creeper plant climbs on the support is not the straight path(efficient) but its spiral which provides more support, which is effective.

Even while climbing a mountain, the straight path will be the efficient way. But the trekkers follow little zigzag or circular path, to minimize the resistance. That path is effective path.
Same applies to management as well. If a decision is implemented drastically, the management will be efficient. But there will be lot of resistance and unrest. But if the same decision is implemented while taking all the stakeholders in confidence, explaining the rational behind it, the acceptance will be higher and implementation will be easy and effective, though it will take little more time.
whereas it's important for a manager or a leader to be effective.
To be efficient or effective depends on the situation and position...!!!