CareersNG

In 1897, the italian economist vilfredo pareto made a fascinating discovery whilst studying the patterns of wealth and income in 19th century england. he observed that a very small percentage of the population held a very large percentage of the wealth and upon further study also found that this imbalance was applicable to all manner of social and economic stastics.

it would appear that a few citizens had obtained considerate wealth for every little effort, whilst the majority had worked extremely hard for very little reward, much the same as nowadays!

the 80/20 principle is in our lives everywhere, far more than most people appreciate. here are just a few examples of the imbalance in life:

1. A minority of criminals will commit the majority of crimes
2. A minority of motorists will cause the majority of accidents
3. A miniority of patients will have the majority of illnesses
4. U will wear a minority of your clothes the majority of the time
5. In sport, a minority of footballers will score the majority of goals
6. In a company, a minority of the employees will earn the majority of the wages
7. A minority of the staff will have the majority of the sick leave!

The list is endless, the pareto principle can be extended to all sphere of life, we need to work smartly and not necessary HARD

The Pareto Principle works in most situtaion if not all.
Infact when I came across it, I actually tried with several facets of life and it all worked.
The one that interest me most, was the confirmation of the fact that that the principle was also valid between Christ and his disciples.
Out of the 12 disciples, three (Peter, James & John) were the closest.
This may not exactly represent the 20% as proposed by Pareto, but it is very very close.

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If what you did yesterday still looks big to you, you haven't done much today .
......Mike Bertola.

hi,
How can we apply thos to how social life

The most important thing about the Pareto Principle is to help us effectively redirect our energy and as well help in placing our priority right.

For instance as a leader, there is need for u to know the 20%(minority) that contribute most to your organization and give them the neccesary morale.
Also, as a man u have numerous friends, identify the minority that contributes or make greater positive impact to ur life, get them and ensure u encamp around them.

Infact, it is one principle that if well utilize will make one to be more productive, which will eventually lead to greater success.

_________________
If what you did yesterday still looks big to you, you haven't done much today .
......Mike Bertola.

Yes, in deed it is very applicable to everyday life YET I doubt that all the listed issues are true (i.e. # 2 and # 3 and most things human beings have no control over)

Well I guess u r right there are several issues of life that are beyond human control.
However, by observation, Pareto was able to conclude that majority of anything comes from minority.
I guess the nature and cosmos forces are also in support of his principle

_________________
If what you did yesterday still looks big to you, you haven't done much today .
......Mike Bertola.

_________________
Fowe.
Choices make or mar Chances ... add extra care to your choices today.

_________________
If what you did yesterday still looks big to you, you haven't done much today .
......Mike Bertola.

_________________
Fowe.
Choices make or mar Chances ... add extra care to your choices today.

_________________
If what you did yesterday still looks big to you, you haven't done much today .
......Mike Bertola.

_________________
Fowe.
Choices make or mar Chances ... add extra care to your choices today.

_________________
If what you did yesterday still looks big to you, you haven't done much today .
......Mike Bertola.

_________________
Fowe.
Choices make or mar Chances ... add extra care to your choices today.