CUET Preparation Today
| A relatively handful of things will generate the bulk of the results or in any group will have “vital few and trivial many”. Which of the following Principle is inherent in this statement? |
Pareto principle Fayol Principle Taylor's Principle Principle of Paradox of thrift |
| Pareto principle |
| Pareto's Principle, you may have observed its effects. This principle holds that in a given system, a relative handful of "causes" will produce the majority of "effects." For example, one may find that 20 percent of customers are responsible for 80 percent of sales, or that 30 percent of the product lines result in 70 percent of returns. |
