Saks Gloweli Business Tip – Sacrifice the Trivial Few for the Vital Many

Saks Gloweli Business Tip - Sacrifice the Trivial Few for the Vital Many

The Pareto Principle also known as the 80/20 law : says that 20% of causes are usually responsible for 80% of results

It is named after an Italian economist  named 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

The law  suggests that businesses  are best served by giving the most attention to the 20% of customers accounting for 80% of its sales, to the 20% of the effort that will do 80% of the work, or to solving 20% of factors causing 80% of its problems.

It is not uncommon during an  efficiency engagement to find that 80% of the work is done by 20% of the people.

By Sid Mewara, Managing Director, Saks Gloweli Consulting Saks Gloweli Consulting is a management strategy consulting firm based out of Shenzhen and Hong Kong that helps clients grow their business www.saks-gloweli.com

1 Comment for “Saks Gloweli Business Tip – Sacrifice the Trivial Few for the Vital Many”

  1. It is so true.

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The Contributor

Saks Gloweli is a Management Strategy Consulting and Financial Advisory firm specializing in China and Asia Pacific, guiding global and Chinese companies to growth and profitability. SG has been in operation in China and Hong Kong and celebrates Shenzhen as a central hub of growth for China and the rest of the world.

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