ConceptsNest

  The Pareto principle states that for many outcomes, roughly 80% of consequences come from 20% of causes (the "vital few"). Other names for this principle are the  80/20 rule , the  law of the vital few ,  or the  principle of factor sparsity . Management consultant Joseph Juran developed the concept in the context of quality control and improvement, naming it after Italian economist Vilfredo Pareto, who noted the 80/20 connection while at the University of Lausanne in 1896. In his first work, Cours d'économie politique, Pareto showed that approximately 80% of the land in Italy was owned by 20% of the population. The Pareto principle is only tangentially related to Pareto efficiency. More generally, the Pareto Principle is the observation (not law) that most things in life are not distributed evenly . It can mean all of the following things: The Uneven Distribution What does it mean when we say that things ...

  We often wonder how successful companies continue to navigate and grow and know exactly what direction to go . The trick seems to be an almost irresponsibly aggressive approach to growing key objectives with a talented group of people.  OKR is an acronym for Objectives and Key Results —  a framework for visioning and setting goals within an organization that was popularized by Google. Today, OKR is used at a seemingly broad variety of companies, from larger established firms like Anheuser-Busch and Deloitte to younger tech companies like Eventbrite and Twitter. Therefore, what are OKRs and how do they work, and — most importantly — do they work. Many leaders ask how they can align their team to the vision and set goals within their team. What is OKR? OKR is a goal-setting methodology originally developed by Andy Grove, former CEO and Chairman of Intel. In his book,  High Output Management , he describes OKRs as being the answer to two questions: We can expand the d...

Organized people are not born; they are built. The people who emerge as ‘organized’ use a variety of tools and methods to accomplish their goals and priorities in life. Their systems become habits. What Are Organizational Skills? Organizational skills are the abilities that enable an individual to plan, prioritize, and execute tasks efficiently and effectively . These skills are essential for managing time, bandwidth, resources, and responsibilities in personal and professional settings, ensuring that goals are achieved systematically without unnecessary stress. Organizational skills also help to keep all stakeholders on track to meet shared goals. By doing so, we are not holding back team members from making progress on their deliverables. Importance of Effective Organizational Skills   Bandwidth Management: Organizational skills help individuals allocate time and resources effectively, allowing them to focus on priorities and meet deadlines.  Example: A college stu...