Brooke, a fellow student, asks you to explain Pareto's law because she has heard it mentioned as a way to establish priorities. Your answer should center on which of these?
A) The 80/20 principle
B) Cycle time reduction
C) Diminishing returns
D) Time management
E) The A-B-C system

Question

Quizplus · Accepted Answer

Pareto's law, also known as the 80/20 principle, states that 80% of the effects come from 20% of the causes. In terms of establishing priorities, this means that focusing on the 20% of tasks or issues that have the greatest impact will yield 80% of the desired results. This can be applied in various contexts, from business management to personal time management.

Brooke, a Fellow Student, Asks You to Explain Pareto's Law