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 aren’t distributed evenly? The key point is that each unit of wor

Daily stand-up meetings might be the quickest way to waste your time as a leader. As a manager, you’ve likely witnessed this first hand. Your daily stand-up meetings have become bloated and unengaging, the more time passes and the bigger your team grows. Should you be doing something different? And if so, what? The time to kill the daily stand-up meeting has come. Here’s exactly why and what we should do instead… Why Daily Stand-Up Meetings Do Not Always Work 01.   Many oars, too many directions: The original  intention  behind a daily stand-up meeting is extremely sound. Popularized by the  Agile methodology  of project management, daily stand-up meetings are meant to share progress and identify any blockers the team is facing . For the few teams who strictly adhere to only sharing status updates and blockers, a daily stand-up can serve them well. However, for most of us in practice, it’s a different story. We get overly excited and cram other intentions into our daily stand-u

  Every single one of us has the potential to be so much more than we are, and throughout our lives, we stumble upon so many amazing ideas and take great initiatives for our growth and well-being, and we also go to great lengths to get started and get things going. So many great ideas and initiatives just get buried in the ground forever. So many people who have the potential to achieve so much never make it, only because of the  lack of consistency . We often have so many positive intentions and thoughts, and we often know what we “should” do to increase the quality of our lives. If only we could consistently follow some of our life’s callings, our lives might transform beyond our imagination. This can also lead to:- 1)       Self Doubt. Doubting our own ability to be consistent and ability to follow through, leading to people’s image of us being inconsistent. 2)       Self Image. This doubting impacts our self-image and self-esteem.  3)       Loss Of Trust. This leads