Summary: The 80/20 Principle E-Book

BusinessNews Publishing

• Herausgeber: Business Book Summaries
• Kategorie: Fachliteratur
• Sprache: Englisch

Seitenzahl: 30

Veröffentlichungsjahr: 2013

Beschreibung

The must-read summary of Richard Koch's book: "The 80/20 Principle: The Secret of Achieving More With Less". 

This complete summary of the ideas from Richard Koch's book "The 80/20 Principle" shows that 80% of the results in any system will flow from just 20% of the efforts. Further demonstrating that the key to success is to expand on this 20%, this summary will offer you 10 techniques to do so. 

Added-value of this summary: 
• Save time 
• Understand key concepts
• Expand your management skills

To learn more, read "The 80/20 Principle" and take advantage of this exceptionally useful paradigm! 

Leseprobe

Book PresentationThe 80/20 Principle by Richard Koch

Summary of The 80/20 Principle (Richard Koch)

Book PresentationThe 80/20 Principle by Richard Koch

Book Abstract

MAIN IDEA

The 80/20 principle is that 80-percent of the results in any system will flow from just 20-percent of the efforts. Therefore, the key to being more productive and better organized is to focus on expanding the productive 20-percent rather than trying to eliminate the unproductive 80-percent.

Specifically, the 80/20 principle suggest that higher productivity in any activity will be achieved by:

Celebrating and expanding exceptional performance rather than trying to raise the overall average.Looking for productive short cuts that still achieve 80-percent of the intended results rather than plodding on.Using the least possible effort to maintain control over your life rather than making things difficult for yourself.Seeking and working towards excellence in a few things rather than competence in a lot of different areas.Outsourcing as many non-productive tasks as possible to other people so you can focus on where you are highly productive.Choosing a career in which you can either be self employed or employ other people to multiply your effectiveness.Only doing those things that you love doing and that you personally do very well.Becoming aware of the ironies and oddities that lie just beneath the surface that most people never even think about.Always working out where 20-percent of your efforts will lead to 80-percent of the results.Targeting a limited number of very valuable goals where you can make the 80/20 principle work for you instead of against you.Making the most of those all too brief cosmic alignments where everything you touch seems to turn to gold.

Important Note About This Ebook

This is a summary and not a critique or a review of the book. It does not offer judgment or opinion on the content of the book. This summary may not be organized chapter-wise but is an overview of the main ideas, viewpoints and arguments from the book as a whole. This means that the organization of this summary is not a representation of the book.

Summary of The 80/20 Principle (Richard Koch)

Part 1: The 80/20 Pnnciple

Main Idea

The 80/20 principle states that there is an inbuilt imbalance between inputs and results in any system. Typically, the majority of the inputs have little impact on the results while a minority have a major impact. In other words, the bulk of the results are actually derived from only a small proportion of the inputs.

A mathematical benchmark which consistently shows up is that 80-percent of results directly flow from just 20-percent of the efforts. Therefore, the key to being more productive is to:

Determine which 20-percent of the total effort is most productive, and to focus on increasing those inputs in order to achieve even greater results.Find ways to make the 80-percent that is currently unproductive become more productive.

Supporting Ideas

The basic underlying premise of the 80/20 principle was first identified by an Italian economist, Vilfredo Pareto, in 1897. Pareto was studying patterns of wealth and income in 19th century England, and he noticed that there was a consistent mathematical relationship in evidence. Specifically, Pareto noticed 20-percent of the population had accumulated 80-percent of the wealth, and that the same relationship was repeated consistently in numerous other areas. (The 80/20 principle is sometimes referred to as the Pareto Principle in his honor.)