17 Aug 2018, 11:40 — 1 min read
Definition: The Pareto Principle (also known as the 80/20 rule) states that, for many events, roughly 80% of the effects come from 20% of the causes.
Example: 80% of the company’s revenue came from 20% of its most vital clients. The new entrepreneur was witnessing Pareto’s Principle in action.
Business insight: Understanding the application of Pareto’s Principle can be the key to allocation of resources that help grow revenue and channel efforts in the right direction.
Posted byGlobalLinker Staff
We are a team of experienced industry professionals committed to sharing our knowledge and skills with small & medium enterprises.
6 Jan 2022, 13:00
31 Dec 2021, 17:52
Most read this week