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Gross margin is calculated with the formula
Elton Mayo
A pioneering researcher in industrial human relations who led the Hawthorne Studies, which highlighted the importance of social factors in the workplace such as employee morale and productivity.
Productive Efficiency
A situation where an economy or firm produces goods or services at the lowest possible cost, often achieved by fully utilizing all available resources.
Pareto Analysis
A statistical technique used in decision making that is based on the principle that 80% of effects come from 20% of causes, often used to prioritize tasks.
80/20 Rule
A principle stating that 80% of effects come from 20% of causes, often used to highlight the importance of focusing on the most productive inputs.
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