In 1906 there was an Italian economist named Vilfredo Pareto. One day Pareto noticed that every year, 20% of the pea pods in his garden produced approximately 80% of the peas. This got him thinking about economic output on a larger scale. Sure enough, he began to find that in various industries, societies and even companies, 80% of the production often came from the 20% most productive faction. This became
Management
September 19, 2021
Inspiring Innovation
It’s one of the toughest challenges an executive faces: How do you get your people to think creatively—to challenge the status quo—while still keeping your everyday operations running smoothly? Innovation is not like most other business functions and activities. There are no reliable templates, rules, processes, or even measures of success. In a sense, each act of innovation is a unique feat, a leap of the individual—or the collective—imagination that