Pareto Principle

Nov 22 / Network Capital
Eighty per cent of results come from 20 per cent of actions.

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Italian Economist Vilfredo Pareto in the year 1895 observed that there was natural division in the society between the ‘vital few’ (the top 20 per cent) and the ‘trivial many’ (the bottom 80 per cent). However, more than being a useful way of understanding the society, the Pareto Principle became a critical tool of application.

Most start-ups as well as companies follow the Pareto Principle in determining their tasks. They recognize that 80 per cent of their work will happen in just 20 per cent of the time. But the remaining 20 per cent of the assignments will take 80 per cent of the effort. This recognition helps them not only plan their work but also prior- itize their tasks. It is a core principle applicable to most of projects. Just like in business, the Pareto Principle finds relevant applications in the domain of economics, computing, sports, mathematics, etc.

At a personal level the Pareto Principle is a useful tool in arranging and budgeting our time to our different interests, hobbies, work assignments and social engagements. Every time you plan your calendar, think of the Pareto Principle, that is, think of maximizing 80 per cent benefits by spending 20 per cent of your time. Also account for the un-skippable 20 per cent of the tasks that require 80 per cent of your attention.

What is Online Learning?

In online learning, students attend classes on the Internet and involve in real interactions with teachers and students at the other end. Students can attend the curriculum at their own pace and easily access the class from anywhere.

Online Learning is a reality and gradually becoming part of formal education. This educational model appeals especially to anyone who can’t attend a physical faculty or school. Online Learning also hops the national boundaries and is offered for dispersed college students that can have a wider choice of online programs.

How does online learning work? Learning management systems (LMS) provide an accessible exchange of information between professors and students. Τhis way, students can view learning material at their leisure or even attend scheduled conferences or lectures.

Concerning test-taking, learners can submit course assignments through the LMS, participate in a discussion, or submit other tasks. Lastly, professors may provide feedback to the student through comments or emails when using this LMS.