The Pareto Principle Explained | The 80/20 Rule | Productivity Technique | Teamwork |
Do you think giving your 100% to a task will ensure a 100% result? Does it always work that way? Pareto Principle will help you understand how you can channelise your inputs to maximise results. Watch this snippet to learn about this 80/20 rule of Pareto Principle.
What is Pareto Principle?
The Pareto Principle, also known as the 80/20 rule, states that roughly 80% of the effects come from 20% of the causes. It suggests that a significant portion of outcomes is driven by a small portion of inputs, highlighting the unequal distribution of impact or resources in various contexts.
What is resource management?
Resource management refers to the process of effectively allocating and utilising available resources to achieve specific goals or objectives. It involves planning, coordinating, and optimising the use of resources such as personnel, finances, equipment, materials, and time to ensure efficiency, productivity, and cost-effectiveness in various domains like project management, business operations, and organisational planning.
What is software engineering?
It’s a branch of computer science that focuses on designing and developing computer systems and application software.
Software engineers are experts in programming languages, software development, and operating systems and use engineering principles to create software.
What is productivity?
determined by dividing the total output by the total input (e.g. labour, capital, energy, materials) used to produce that output. Increasing productivity means producing more with the same amount of resources or the same amount with fewer resources. Improving productivity is important for businesses, as it can lead to increased competitiveness, profits, and economic growth.
What is computer science?
Computer science is the study of computers and computational systems. It encompasses the design, development, and analysis of algorithms, programming languages, software, and hardware. Computer scientists solve complex problems, create new technologies, and drive innovation in fields such as artificial intelligence, cybersecurity, and robotics.
What is the tech industry?
The tech industry refers to the businesses and organisations involved in the development, design, manufacturing, and distribution of technology products and services, including computer hardware, software, telecommunications equipment, and e-commerce services. It is a rapidly growing and constantly evolving sector with a significant impact on the global economy.
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