The fact that improvements in a few key areas of operations will have more impact than many improvements in less significant areas is referred to as the ___________.
A)forecasting approach
B)Pareto phenomenon
C)productivity challenge
D)analysis of trade-offs
E)ethical dilemma

Question

Quizplus · Accepted Answer

This phenomenon is also known as the 80/20 rule or the law of the vital few. It suggests that 80% of the effects come from 20% of the causes, indicating that focusing on the vital few areas can lead to significant improvements in operations.

The Fact That Improvements in a Few Key Areas of Operations