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Tag Archives: efficiency
The Pareto Principle (aka 80-20 rule)
First, skim through this: Wikipedia: Pareto_principle If I had to explain the Pareto principle, I’d say that it describes how input and output are not directly related in terms of proportion. The rule of thumb used is 80/20. It’s not … Continue reading
Posted in Personal Development, Systems
Tagged Economics, efficiency, Management, resources
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Why nobody gives up their seats, and how to fix that.
Why do we ask people to give up their seats? To achieve “efficient seat distribution”- an outcome where the seats on a bus or train go to the people who need them the most. I like the idea of efficient … Continue reading
boost productivity tremendously with the right incentives!
What should a CEO do when he realises that there’s someone who could be a better CEO than himself? Idealistically, he should relinquish the job because it would be in the best interests of the company, yet realistically he would … Continue reading
