This week’s Five Quick Reads post shares articles focused on using the Pareto Principle to increase efficiency and effectiveness of actions and strategy.
“Try This Tip: Apply the Pareto Principle” by Dr. Melissa Matarazzo focuses on applying the Pareto Principle to strategy selection. Dr. Matarazzo asks, “As we strive to achieve ambitious annual goals, what is most likely to yield results?” She suggests that what matters is selecting the best activities for the 20% of our day that we reserve for strategic action; this 20% of our actions will lead to 80% of our results. Read more.
This Forbes article shares how to use the Pareto Principle to “Dramatically Grow Your Business.” Might not have interest in “growing” a business; that’s not the point of including this article here. Instead, the article helps readers begin reflecting on the frequency of events that occur, and what this means in terms of 80/20.
Here’s a slide from SlideShare presented by Leader Syndrom that presents the Pareto Principle for tactical decision-making:
What Pareto principle tells us… is simply that, in order to solve 80% of the client complaints, you need to fix your quality issues with… the “vital few.”
Check out the slide here; transfer the example to you school, department, or district!
The NHS Institute for Innovation and Improvement provides an overview of Pareto followed with evidence of its application in the Institute’s Quality and Service Improvement Tools section. They address questions like, “How to use Pareto,” “What is it and how can it help me,” and “When does it work best”? Answer your questions here.
McKeown, President and CEO of Predictable Success (Twitter @PredSuccess) writes, “You’ve heard of the Pareto Principle — that 20% of your efforts yield 80% of your profits,” and then asks, “Now, what are you doing with the other 80% of your time?” Great question! Read more.
Quick Reads offers us an opportunity to share some of what we’re reading each week. This week’s highlights were about using the Pareto Principle to increase decision-making effectiveness. Make a connection? Let us know via Twitter at @StuderEducation.