Final Ppt Bk Revw

8/14/2019 Final Ppt Bk Revw

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BOOK REVIEW

Introduction &Chapter 1


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The 80/20 principal :-Inbuilt imbalance between causes andresults, inputs and outputs, and effort and reward.

How to achieve more with less whether it is the money orsuccess in business or enjoyment, happiness .

Corporate success is not a mystery if the 80/20 is beenapplied properly to it.

The 80/20 individual -sequel to classicbestseller The 80/20 principal


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Explored the path to success


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Critically evaluated the application of 80/20 principle in theprofessional lives.

How anyone can be more effective with less effort by learningto identify and leverage the 80/20 principle

The 80/20 principle is one of the great secrets of highlyeffective people and organizations .

Did you know that IBM used this principle in gainingleadership?


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Most successful corporation revolves arounda few individual.Introduces the concept of 80/20 individual,the one who follow 80/20 principle to achievehigh level of success.Provides a insight about 80/20 principle givenby Italian economist Vilfredo Pareto.


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Individuals are ignorant about them being the centreof creation of wealth or them being 80/20 individuals.

80/20 individual is one who can

o create wealtho aware about potentialo able to dictate their own terms.

80/20 individuals in organization


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80/20 individual is at heart of creation

Misconception that creativity is largely a matter of talentor experiment or luck

key elements, but 80/20 principle is central to all acts of

creation.

Few powerful forces lies behind act of creation.

Creation can be conscious or unconscious and can beengineered if driver is known.


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BOOK REVIEW

Chapter 2, 3 & 4


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BOOK REVIEW

Chapter 5 & 6


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Chapter 5

Spawn and Mutate Great Ideas

There is no force on earth so powerful as an ideawhose time has come -- Victor Hugo


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Enterprises have all these attributes at once. Theyare numbers, forces, things, people and ideas.

There is great power in viewing enterprises as

ideas. An idea can be expressed in numbers


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Business genes are packets of beneficialeconomic information, ideas that are useful for

business.

Success in business comes from great businessideas and from being the best available vehicle for those ideas in a specific market.


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Chances of success for the new business aredramatically higher if the following are true:the idea is a variant of one that has already

proved itself successfulThe idea, although a variant of success is unique


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How to enlist and mutate great ideas? 1. circle your wagons 2. shortlist the vital few ideas

3. ferment a unique brew 4. test, test and test 5. confirm the economics of an 80/20 enterprise

6.discover the new 20 percent within the 20 percent


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Find the Vital Few profit Forces

Our task using the 80/20 principle, is to identifythe most profitable parts of businesses and usethem as building blocks for new opportunities

Using the 80/20 principle to increase profitabilitydoes not require you to start a new business


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How to enlist the vital few profit forces?This is divided into 3 main categoriesEmployees and partnersCustomersProduct and service segments


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Who are the vital few people? Who are the vital few customers? What are the vital few activities,products and

services?


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Chapter 6

Enlist Einstein How to enlist Einstein?

Think product time, think service timeCompress the time taken to deliver to customersPlan to cut time


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BOOK REVIEW

Chapter 7-Hire GreatIndividuals.

Chapter 8- Use of the current

company


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Chapter 7If I see any further, itis by standing on theshoulders of giants


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Hire Great Individuals

The 80% result is produced by this 20 % of the best performers.

The 16 times ratio

top 10 % of the worlds population receive 70%of the total income and produce 70 % of goodsand services .in us the top 5% own the same

market share as the bottom 60 %.


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Hire Great Individuals

KOCHS LAW OF INDIVIDUAL WEALTHCREATION

Powerful business genes are carriers of economic power.

Engineering graduates Vs English classcounterparts

WEALTH= (TALENT) X (WEALTH CREATION MULTIPLEWEALTH= (TALENT) X (WEALTH CREATION MULTIPLE ))

WEALTH= (TALENT) X (BUSINESS GENES)WEALTH= (TALENT) X (BUSINESS GENES)


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To Get Great People

Hire great minds generating quick funds Hire the cheapest For any level of talent favour the under confident and

beware of overconfident. Overpay young achievers, Hire people who raise the average of the firm, Create loyal people who make money by giving early

share in the organisation as they start working


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THEORY OF TRIBETHE PRIMARY AND POWERS OF THE PARTNERS

People like their own tribe to work. Leaders must keep some confidant to help them in

their times of difficulty

VENTURE DNA-only virtuous survive theevolutionary cycle


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HOW TO ENLIST THE FIRM

Enlisted the firms by following steps1.Start a new venture2.Finding a hybrid solution

3.Implementing them into the firm80/20 TO EXPLOIT THE ORGANISATION-Make small

groups in the organisation of people with great businessgenes


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BOOK REVIEW

Chapter 9, 10, 11


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9 STEPS

Use your most creative 20% Spawn and mutate ideas Find the vital few profit forces Enlist Einstein

Hire great individuals Use your current company Exploit the firms Secure Capital

Make zigzag progress

Ch 9


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Chapter 9exploit other firms

Cuckoos are not bothered to raise their young as theydeposit their eggs in the nest of other species of bird.Being a cuckoo is nice work if you can get it. 80-20

individual can


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Small is no longer weak.

Transition from underdogs to over dogs

U d d d Bill


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Underdog to over dog: BillGates

In the 1980 an 80-20 individual, Bill Gates wasrunning a small company with nominal profits.

He then parlayed his company into an alliancewith IBM.

This deal served more to Bill Gates than to IBM.

C i ki lli i h ll


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Companies are seeking alliance with smallplayers .

Size and Growth are incompatible


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Identify the missing ingredients inmissing marketsAdhere strictly to 80/ 20

parsimony principleSeparate Drones from Star

partners.Force birds of a different feather

together.

Chapter 10


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Chapter 10secure capital

80-20 individuals have always exploited capital. They have been the few who started with little capital-and ended

with a cornucopia of cash.


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What is a star without its shinning?

What is leader without purpose?

NOTHING


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What completes this couplet?

+ ?


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Chapter 11


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Chapter 11MAKE ZIGZZG PROGRESS

As Change is the only constant today therefore weneed Consistency in innovation to grow.


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yeh dil mange more

Never rest on your laurels


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For example Sam Walton, Walmart


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REVIEW

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