Ep098: The Pareto Principle, witH Andrew Barrett - a podcast by Andrew Barrett | Growing leaders | Drastically improving health & safety

 The Pareto Principle has been observed in a range of economic areas, like global individual wealth distribution I mentioned earlier, but soverign wealth, quality defects (few defect types cause majority of quality costs/rework time), innovations (where only a few members of staff will provide the majority of innovation ideas), decision making (where only a small proportion of time in a meeting results in the majority of decisions), and complaints (where only a few aspects of your services will result in the majority of your complaints). 

 

Where this gets interesting, is that it enables us to understand how to move away from slow and incremental improvement, to improvement which is disproportional to our time and effort.