Presentation on 80-20 Rule | The Pareto Principle - CommLab India
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The 80-20 Rule – the Pareto Principle--describes the inherent disparity between cause and outcome and the effort and result. Let’s see a presentation on how to apply the 80-20 Rule or the Pareto Principle that helps you identify the most important problems and resolve them accordingly.
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Presentation on 80-20 Rule | The Pareto Principle - CommLab India
- 1. 80-20 Rule – The Pareto Principle
- 3. Effort and Results80 % outcome 80 % Result 20 % cause 20 % Effort
- 4. The Pareto Principle means, “Put your efforts where they will make the most difference”
- 7. The 80-20 Rule can be applied in Time Management and productivity workshops
- 8. Important concept to plan your Sales achievements
- 9. 20% of your customers make up 80% of your budget
- 10. Keep your efforts on the remaining 80% of customers at a "reasonable level"
- 11. Identify key happiness triggers (20%) and ditch the activities (80%) that provide little or no satisfaction
- 12. Focus on activities that produce the best outcomes for you, professionally and personally
- 13. It reduces operating costs Operating costs
- 14. Helps Bridging the gap
- 15. Critical Mistake Analysis (CMA): - a very good application of this rule
- 16. Critical Mistake Analysis can be used to target training to the critical content (20%) that result in the largest impact (80%)
- 17. Applications of the 80-20 Principle
- 18. The 80-20 Rule is used for the growth and development of business
- 19. Helps identify important problems
- 24. The Pareto Principle helps you focus on the biggest bang for your determination
- 25. To harness the power of the 80-20 Principle in your personal life, do the following
- 26. Ascertain how things happen
- 27. Pareto Principle is the Cornerstone of CRM or Loyalty Marketing Strategy
- 28. Pareto Principle best used as a gross Error Check
- 29. “It is our attitude at the beginning of a difficult task which, more than anything else, will affect its successful outcome” --William James
- 30. To read more such articles, please visit blog.commlabindia.com
- 31. THANK YOU
Editor's Notes
- Welcome to the presentation titled “80-20 Rule - The Pareto Principle”
- The 80-20 Principle talks about an inherent disparity between cause and outcome and effort and results.
- The Pareto Principle means, "Put your efforts where they will make the most difference."
- A deeper analysis of the data usually shows that about 5% of the causes generate 50% of the profits While the bottom 50% of causes generate only 5% of profit or revenue
- One has to be careful about how to apply the 80-20 Rule for growth in personal and professional life.
- Include the 80-20 Rule in Time Management and productivity workshops help people focus on activities of the highest impact.
- Pareto Principle is an important concept to plan your Sales achievements.
- 20% of your customers make up 80% of your budget.
- You must always keep your efforts on the remaining 80% of customers at a "reasonable level", which is difficult.
- Identify key happiness triggers (20%) and ditch the activities (80%) that provide little or no satisfaction
- Focus on activities that produce the best outcomes for you, professionally and personally.
- The 80-20 Strategy streamlines your product portfolio and reduces operating costs without losing business or irritating your customers.
- Software vendors sell features but businesses need capabilities. This approach helps in bridging the gap
- A very good application of this rule comes from making a Critical Mistake Analysis.
- Critical Mistake Analysis can be used to target training to the critical content (20%) that result in the largest impact (80%).
- Applications of the 80-20 Principle:
- The main purpose of using the 80-20 Rule is for the growth and development of a business by using new techniques and technologies.
- It helps to identify the most important problems, typically in the form of histograms or vertical bar charts.
- When you let go of unused stuff
- When you learn to use the tools you need the most
- To do away with meaningless activities
- To concentrate on your strengths
- The Pareto Principle helps you focus on the areas where you'll get the biggest bang for your buck.
- To harness the power of the 80-20 Principle in your personal life, do the following:
- With research, you can ascertain how things happen in an organization.
- The Pareto Principle is a fact of life for any B2C business with many customers. It forms the cornerstone of CRM or a Loyalty Marketing Strategy.
- It is best used as a ‘gross error check’ and a useful starting point in the absence of better information.
- As William James says, “It is our attitude at the beginning of a difficult task which, more than anything else, will affect its successful outcome.”
- To read more such articles please visit: blog dot commlabindia dot com
- Thank you