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!
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...