“In business the 80/20 principle is behind any innovation, any extra value. It is an entrepreneurial principle, a formula for value creation utilized not only by entrepreneurs, but by most managers and organizations.”

—  Richard Koch

Source: The 80/20 Individual (2003), Chapter: The 80/20 Principle Is at the Heart of Creation

Adopted from Wikiquote. Last update June 3, 2021. History

Help us to complete the source, original and additional information

Do you have more details about the quote "In business the 80/20 principle is behind any innovation, any extra value. It is an entrepreneurial principle, a formul…" by Richard Koch?
Richard Koch photo
Richard Koch 11
German medical historian and internist 1950

Related quotes

Don Soderquist photo

“Values identify what you stand for. In a sense, these values are the very foundation of your culture, those basic principles on which you are unwilling to compromise.  It is extremely important that the values in any organization be clearly articulated for and understood by everyone in that organization.”

Don Soderquist (1934–2016)

Don Soderquist “ The Wal-Mart Way: The Inside Story of the Success of the World's Largest Company https://books.google.com/books?id=mIxwVLXdyjQC&lpg=PR9&dq=Don%20Soderquist&pg=PR9#v=onepage&q=Don%20Soderquist&f=false, Thomas Nelson, April 2005, p. 29.
On Putting Your Values First

“Reengineering posits a radical new principle: that the design of work must be based not on hierarchical management and the specialization of labor but on end-to-end processes and the creation of value for the customer.”

Michael Hammer (1948–2008) American academic

Source: Reengineering the Corporation, 1993, p. 11

Erving Goffman photo

“Society is organized on the principle that any individual who possesses certain social characteristics has a moral right to expect that others will value and treat him in an appropriate way.”

Erving Goffman book The Presentation of Self in Everyday Life

Source: 1950s-1960s, The Presentation of Self in Everyday Life, 1959, p. 13.

Stephen R. Covey photo

“Consequences are governed by principles and behavior is governed by values; therefore, value principles!”

Stephen R. Covey book The 8th Habit: From Effectiveness to Greatness

The 8th Habit : From Effectiveness to Greatness‎ (2004)
Context: Values are social norms — they're personal, emotional, subjective, and arguable. All of us have values. Even criminals have values. The question you must ask yourself is, Are your values based upon principles? In the last analysis, principles are natural laws — they're impersonal, factual, objective and self-evident. Consequences are governed by principles and behavior is governed by values; therefore, value principles!

p. 49

Jay Samit photo

“Problems are just businesses waiting for the right entrepreneur to unlock the value.”

Jay Samit (1961) American businessman

Source: Disrupt You! (2015), p.109

Carl Philipp Emanuel Bach photo

“According to my principles, every master has his true and certain value. Praise and criticism cannot change any of that.”

Carl Philipp Emanuel Bach (1714–1788) German harpsichordist and composer

Response to a story in the European Magazine which had accused him of harshly criticizing Joseph Haydn (14 September 1785), as quoted in Haydn, A Documentary Study (1981) by Howard Chandler Robbins Landon, p. 88
Context: According to my principles, every master has his true and certain value. Praise and criticism cannot change any of that. Only the work itself praises and criticizes the master, and therefore I leave to everyone his own value.

Stephen R. Covey photo

“Are your values based upon principles?”

Stephen R. Covey book The 8th Habit: From Effectiveness to Greatness

Source: The 8th Habit : From Effectiveness to Greatness‎ (2004), p. 49
Context: Values are social norms — they're personal, emotional, subjective, and arguable. All of us have values. Even criminals have values. The question you must ask yourself is, Are your values based upon principles? In the last analysis, principles are natural laws — they're impersonal, factual, objective and self-evident. Consequences are governed by principles and behavior is governed by values; therefore, value principles!

“Common sense suggests that some factors in a [risk management] process are more important than others — and analysis supports this. In reality, only 20 percent of activities. In reality, only 20 percent of activities may account for up to 80 percent of results. This is known as Pareto's law, the “80/20 rule”…Pareto's law concentrates on the significant 20 percent and gives the less important 80 percent lower priority.”

Robert Heller (1932–2012) British magician

as cited in: William G. Ramroth, Jr. (2007) Risk Management for Design Professionals. p. 53
Making Decisions, (1998)

Clayton M. Christensen photo

“Only the general manager can mold the resources, processes, and values that affect innovation, into a coherent capability to develop and launch superior new products and services repeatedly.”

Clayton M. Christensen (1952–2020) Mormon academic

Clayton M. Christensen (1999) Innovation and the general manager. p. 2
1990s

Talal Abu-Ghazaleh photo

“Business can constitute an enormous force for goodness in society. Through its commitments to corporate citizenship and to the principles of the UNGC, the global business community can continue to create and deliver value to society.”

Talal Abu-Ghazaleh (1938) Jordanian businesspeople

July 5, 2007 at the UN Global Compact Leaders Summit, at the Palais de Nations, Geneva, Switzerland.

Related topics