80-20 Rule

80-20 Rule

 

 

80-20 Rule

 

Meaning of 80-20 Rule

80-20 Rule: States that, for many events, roughly 80% of the effects come from 20% of the causes. Business management thinker Joseph M. Juran suggested the principle and named it after Italian economist Vilfredo Pareto, who observed in 1906 that 80% of the land in Italy was owned by 20% of the population, he developed the principle by observing that 20% of the pea pods in his garden contained 80% of the peas. Synonym Law of the Vital Few Synonym Pareto Synonym The Principle of Factor Sparsely

 

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80-20 Rule

 

80-20 Rule

 

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80-20 Rule

 

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80-20 Rule