The Pareto Principle

The Pareto principle or the 80/20 ratio rule is a great way bywhich an individual, as well as a company with thousands ofemployees, can take the benefit and utilize the 80/20 ratio rule. This rule is all about the 20 percent of the causes or theinputs with the help of which the 80 percent of the outputsare received. This principle by Pareto, states that the 20percent of the causes are responsible for any result which isreceived by an individual or a company.
The Pareto principle issignificantly very important and it is commonly used in thebusiness purposes in order to enhance and develop thebusiness and the product sales as well as the customerrelationship of a company. This principle is easy to use and itcan also be applied to a number of fields. It is great forbusiness as well as academics.