Pareto’s Principle: 80–20
I read this principal and I want to share with you all, if we talk about . who’s this Pareto guy and why do we care? Well, Pareto was an Italian economist. He observed that, in any give endeavour, 80 present of the rewards we receive come from only 20 present of the effort. He’s telling us that only 20 present of the work we do will lead us to most of the rewards in life. That’s pretty depressing! We will be rewarded for only 20 % of the work we do? Well, not quite, but most of our reward does come from a very small percentage of our work. So what does it mean to us? How do we use this information? Knowing this allows us to prioritize our work appropriately. We will want to put the things that we believe will bring us the proper rewards A: Personal B: Professional C: Organizational—high on our priority list and everything else lower. Important..... As we think about arranging our work, we need to remember Pareto’s Principle.