Thursday, February 4, 2010

My 80/20 Rule

I first learned about the 80/20 rule last semester while taking BUS 348 Intro to Marketing. My professor told us that companies believe that 80% of their profits come from 20% of their customers. As a business major this is an important rule to learn if you are trying to maximize profits. He made it clear to us that those are the customers a company must take care of regardless of the situation at hand.

The 80/20 rule can also be applied to my life. For example, 80% of the stress and aggravation that I am under comes from 20% of the work that I am responsible for. That being said, the 20% includes the homework that is due from each course that I am taking this semester at SBU and the work that I must do when I am at my job. I wish the opposite where true for my situation, but I cannot think of another person who would have it that way.

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