The Pareto Principle
- Topics:
- Efficiency,
- Time Management
- Source:
- Buzzle.com
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Overview: According to Wikipedia, "The Pareto Principle" states that for many phenomena, 80% of the consequences stem from 20% of the causes. The idea has rule-of-thumb application in many places, but it is commonly misused. For example, it is a misuse to state that a solution to a problem "Fits the 80-20 rule" just because it fits 80% of the cases; it must be implied that this solution requires only 20% of the resources needed to solve all cases. In layman's terms, the 80/20 Rule simply means that the relationship between input and output is rarely, if ever, balanced. Learning to recognize and then focus on that 20% is the key to success and also the key to effective time management.
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Format: HTML | Date: Dec 2006 | Pages: 3
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