Ever
wonder what exactly the 80/20 rule is or where it originated? Let me
explain.
The
80/20 Rule is also known as the Pareto Principle after its
originator, economist Vilfredo Pareto. In 1906 he noted that 80% of
the land and wealth of Italy was owned by 20% of the population.
In
the late 1940s quality management pioneer Dr. Joseph M. Juran further
amplified the theory behind the principle.
Simply
put, the 80/20 rules states that 20% of input is responsible for 80%
of the output or results obtained.





