The Base of 80/20 Rule
An organization must put great effort into identifying and working on its best assets to not only derive the best results but also ensure the optimum utilization of resources. The base of the rule is built on the thought to identify and utilize the best out of all. This is not necessary that the best will be 20% only, and this is also not necessary that it will only derive 80% of results. Still, one sure thing is that it will ensure the achievement of results in whatever ratio it gives.
The 80/20 Rule is interpreted in economic terms. However, it is pervasive and can be used dynamically in various fields. Whether it is management or your expenses that you need to control, you will certainly enhance the results if you comprehend the rules and apply them in your work.
The 80-20 Rule (Pareto Principle) Explained
Do you consider enhancing your organization’s management system to derive the best result? Do you want to create a network of people who can serve as potential customers? Do you have a top-notch quality product but suffer from low sales? Want to know what can solve your problem? This blog will give you a pathway to success in the shape of a simple and flexible rule which is famously known as the Pareto Principle, and in management, we call it the 80/20 Rule.