The historical approach to the study of the theory of effectiveness management for better understanding the current problems of its development. The purpose of the article is a reflection of the analysis categories of economic efficiency in the management in the works of Soviet researchers in 1920-1930. We can conclude that the Soviet management school at this stage of development is not inferior to western. The scientific works not only paid attention to the intention of efficiency at different levels of the socio-economic systems hierarchy, but also offers specific areas to improve efficiency. After analyzing the research of 1920-1930 we can characterize this period as the rise of the Soviet economic thought. The theory has found the multifaceted efficiency reflected in the writings of scientists from the standpoint of its determination, the rationale for effectiveness management, specifying its economic and social parties, analysis of the factors of its formation and identify ways to improve it.