Pareto’s 80-20 principle and it’s impact on managing your business
Pareto’s law: the 80/20 principle Pareto’s law has been developed by the economist and Italian sociologist Vilfredo Pareto in 1896. The Law is based on a principle of probabilities which applies in all possible areas, including business. The principle states that 80% of the positive or negative results are obtained by only 20% of the […]