Monday, 12 October 2009

Vital few and the trivial many

The Kolkata Knots issue of July-August 2009 has an interesting article by Br PO Jose...
It is about the Pareto Principle (named after Vilfred Pareto, an Italian economist) that speaks about the vital few and the trivial many. Paretos' rule states that a small number of causes are responsible for a large percentage of the effect, in a ration of about 20:80. expressed in a management context, 20% of a person's effort generates 80% of the person's results. For the effective use of one's resources, the leader's challenge is to distinguish the right 20% from the trivial many.
That's an interesting insight! Thanks Br Jose!

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