The 80/20 rules of everyday life
This posting is not strictly about China but I thought it has some interesting aspects and wanted to share this with you.
In management literature, you often come across the 80/20 rule or the Pareto principle after the Italian economist Vilfredo Pareto. It is not so much a rule as an observation that many things tend to show this kind of pattern. It is not necessarily the exact numbers but could be 70-90/10-30.
An example would be that a 80% of a company's revenue is to 20% of it's customers or 80% of profit comes from 20% of the products. Outside business, this has also been observed in anything from computer sciences to taxations.
Even in everyday life, people have suggested that the Pareto principle holds true. Someone had looked at a women's wardrobe and found out that they use about 20% of their garments 80% of the time. I don't know if this also true for men, perhaps you guys out there can go home and have a look. Anyway, next time you hear someone complain about having a too small closet, you now have the answer to that problem.
My own personal addition to this is that you get roughly 80% of your drunkeness from the last 20% of the alcohol you drink. I don't know if that is always true, perhaps I should test it imperically.
I guess what this teaches us is to focus on the important things and don't get bothered by the rest that is not important. I wish I knew this when I was at University. Then, I could have read 20% of the book and got 80% on the exam.
Your watchful eyes, not only in China but also in management theory.
/Y
In management literature, you often come across the 80/20 rule or the Pareto principle after the Italian economist Vilfredo Pareto. It is not so much a rule as an observation that many things tend to show this kind of pattern. It is not necessarily the exact numbers but could be 70-90/10-30.
An example would be that a 80% of a company's revenue is to 20% of it's customers or 80% of profit comes from 20% of the products. Outside business, this has also been observed in anything from computer sciences to taxations.
Even in everyday life, people have suggested that the Pareto principle holds true. Someone had looked at a women's wardrobe and found out that they use about 20% of their garments 80% of the time. I don't know if this also true for men, perhaps you guys out there can go home and have a look. Anyway, next time you hear someone complain about having a too small closet, you now have the answer to that problem.
My own personal addition to this is that you get roughly 80% of your drunkeness from the last 20% of the alcohol you drink. I don't know if that is always true, perhaps I should test it imperically.
I guess what this teaches us is to focus on the important things and don't get bothered by the rest that is not important. I wish I knew this when I was at University. Then, I could have read 20% of the book and got 80% on the exam.
Your watchful eyes, not only in China but also in management theory.
/Y
Kommentarer
Postat av: Rachel
But if you dont drink the first 80%, can the 80% drunkenness come? :p
Postat av: Yunfeng
Don't know. Never tried that before. :)
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