Hi
friends and welcome to Life Lessons.
Life is full of ups and downs, thus
it is our part to find a way to smoothen our way. In this episode let us put
light on the 80 20 principle also known as Pareto Principle, its application in
various areas and thus learn the 80 20
Rule in life.
Pareto principle
Vilfredo Pareto, an Italian engineer sociologist, economist and a political scientist. In his work at University of Lausanne he explained about the power law distribution which had an important rule known as the 80/20 rule, also known as the Pareto Principle. Basically, this principle states that almost 80% of outcomes result from 20% of all inputs (work put into) for any given scenario.
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| Vilfredo Pareto Source: Wikipedia |
Let us peep into some important observations:
· The 20% of the inputs are prioritized for best outcomes
· It has taken its origin from the observations of Italian land ownerships.
· It is just an observation that lies valid for most of the cases. This is not a law.
80/20 rule in time management
No matter whether is it a personal task or a professional one; time management creates a lot of difference. This can be observed in terms of efficiency. When we compare a person with and without time management in their activities, the one with time management seems to be more efficient.
The essence of this is quite straight forward and simple. In the total time available to us, we can take up to 20% of it to plan how the task is to be completed. And in the remaining time (80%) can be utilized to act smart accordingly. That’s simple right?
80 20 rule in friendships
The concept is unique when we consider it in the aspect of friendship.
To our friends (whom we like and care for) we always offer 100% all the time. But in return we are still ok with 80%. We never complain about the remaining 20%, which is actually crucial at times.
For example: Henry and David are best friends. Both care for each other. Henry lost his job and is depressed. But he was not interested in showing this off. But this is the part of Davis to understand the situation that Henry need a shoulder to cry upon. This is the part where the 20% fail/succeed.
Thus observing and understanding these minor aspects can bring us clarification about our friends and friendships.
80 20 rule in relationships
Relationships have many ups and downs. There may be many cases where the couple face misunderstandings. But in many cases the 80/20 rule can get the solution. This solution for relationships is merely a sort of habit to follow.
In many cases, a partner may want to take a decision without the prior check-in with the other. These sort of complexities can be overcome by this principle. It is always suggestible to take only 20% of time from your partner for self-fulfilling and for left out try to resume your individuality. Now this is the choice of the individual to prioritize the activities into this fraction (20%).
This policy followed can bring many improvements in the relationships thus leading to a smooth life.
The same policy/habit may also stay valid for marriage relationships too. Thus is can be considered as the answer to – What is the 80/20 rule in marriage too.
80/20 Rule in Life
The Pareto Principle is a great observation. It is true that it cannot be claimed to be valid to all the cases. But this consideration can definitely bring about the efficiency out of the task. Since life is the mixture of all the aspects of individual, all the above sections actually sum to efficient life.
80 20 rule examples
Here are some examples of 80 20 rule:
· 20% of people in a economy hold 80% of finances
· 20% of workers are responsible for 80% of production
· 20% of drivers cause 80% of all accidents
· 20% of murderers commit 80% of all murders
And so on….
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