The 80/20 Rule for Managers

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The 80/20 Rule for Managers
Vasiliy Smetanin, CEO, Dominican Republic, Member
To organize their working process well, and to complete tasks effectively, managers use a big variety of resources including finances, social and time resources. Obviously the environment is never perfect, and your success depends on your ability to rationalize the way of using the funds available. One important thing you should understand: being busy doesn't always lead you to your aim, the result you get depends on the QUALITY of the things you do, NOT on their AMOUNT. The way you plan your work and the tasks you include into your to-do-list can make a big difference. WHAT IS THE PARETO PRINCIPLE? Probably you have already heard about the law of imbalance or the 80/20 rule. Also called: the law of the vital few, or the principle of factor sparsity. All the names refer to the . - It was discovered in the 19th century by an Italian economist Vilfredo Pareto. Studying the distribution of wealth in England he found out that a few families (20% of the population) owned the ma (...) Read more? Sign up for free
 

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