80-20 Rule
The 80-20 rule, also known as the Pareto Principle, is an aphorism which asserts that 80% of outcomes (or outputs) result from 20% of all causes (or inputs) for any given event. In business, a goal of the 80-20 rule is to identify inputs that are potentially the most productive & make them the priority. For instance, once managers identify factors that are critical to their company's success, they should give those factors the most focus.
Although the 80-20 axiom is frequently used in business & economics, you can apply the concept to any field—such as wealth distribution, personal finance, spending habits, & even infidelity in personal relationships.
The 80-20 rule maintains that 80% of outcomes (outputs) come from 20% of causes (inputs).
In the 80-20 rule, you prioritize the 20% of factors that will produce the best results.
A principle of the 80-20 rule is to identify an entity's best assets & use them efficiently to create maximum value.
(Investopedia)
📸©:- Brain Boosted
@goferebusiness
The 80-20 rule, also known as the Pareto Principle, is an aphorism which asserts that 80% of outcomes (or outputs) result from 20% of all causes (or inputs) for any given event. In business, a goal of the 80-20 rule is to identify inputs that are potentially the most productive & make them the priority. For instance, once managers identify factors that are critical to their company's success, they should give those factors the most focus.
Although the 80-20 axiom is frequently used in business & economics, you can apply the concept to any field—such as wealth distribution, personal finance, spending habits, & even infidelity in personal relationships.
The 80-20 rule maintains that 80% of outcomes (outputs) come from 20% of causes (inputs).
In the 80-20 rule, you prioritize the 20% of factors that will produce the best results.
A principle of the 80-20 rule is to identify an entity's best assets & use them efficiently to create maximum value.
(Investopedia)
📸©:- Brain Boosted
@goferebusiness