Pareto’s Principle the 80/20 Rule
Thursday, March 26th, 2009Chapter 3 of Gerbyshak’s “10 Ways to Make it Great” book is about the 80/20 Rule.
The 80/20 Rule also known as Pareto’s Principle. The 80/20 Rule says that 20 percent of something always are responsible for 80 percent of the results. Twenty percent of the agents sell eighty percent of the properties; twenty percent of the products have eighty percent of the flaws. Quality Management pioneer, Dr. Joseph Juran, called the phenomenon “vital few and trivial many”. The article Pareto’s Principle - The 80-20 Rule explains the 80/20 Rule in more detail and tells how you can use it to more effectively manage many different aspects of your life.
About.com author John Reh says, “Use caution when you apply this principle. Remember it is a “principle” not a “law”, but it is a good way for managers to stay focused on the few important issues and not get lost in the volume of information and tasks that try to take over our days.”Â
Gerbyshak in his “make it great” book invites the reader to review the rule, create a list of our activities and identify the 20% that generate the 80% of most desireable results. Then to make sure that we spend most of our time focusing on those activities.Â
