If your a familiar with the Pareto Principle or commonly known as the 80/20 rule, anything a few (20 percent) are vital and many (80 percent) are trivial, you may have heard of Joseph M. Juran. He was the one who educated business about implementing the Pareto Principle. You'll be sad to learn that Joseph M. Juran died on February 28th at 102.
Some Examples of Pareto Principle:
- 20% of your daily activity accounts for 80% of your productivity.
- 20% of your employees account for 80% of your revenue
- 80% of the economy is controled by 20% of the population
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