Cambridge Dictionaries online Cambridge Dictionaries online

The most popular online dictionary and thesaurus for learners of English

English definition of “the Pareto principle”

the Pareto principle

noun [S]
 
 
(also Pareto's law , informal the 80/20 rule) ECONOMICS, WORKPLACE, PRODUCTION
the idea that a small quantity of work or resources (= time, money, employees, etc.) can produce a large number of results: The Pareto principle, when applied to time, states that 20% of your time determines 80% of your production. The Pareto principle can be applied to quality improvement, as the majority of problems (80%) are produced by a few key causes (20%).
(Definition of the Pareto principle from the Cambridge Business English Dictionary © Cambridge University Press)
What is the pronunciation of the Pareto principle?
Add Cambridge dictionaries to your browser to your website

Word of the Day

look on the bright side

to find good things in a bad situation

Word of the Day

The language of work

by Kate Woodford,
October 15, 2014
Most of us talk about our jobs. We tell our family and friends interesting or funny things that have happened in the workplace (=room where we do our job), we describe – and sometimes complain about – our bosses and colleagues and when we meet someone for the first time, we tell

Read More 

life tracking noun

October 20, 2014
the use of one or more devices or apps to monitor health, exercise, how time is spent, etc.

Read More