The 80/20 Rule, as Applied to the Management of Change

question 42

True/False

The 80/20 rule, as applied to the management of change, requires 80% of the effort be put into making the change and 20% of the effort be put into preparing for the change.

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Definitions:

Commercialization

The process of bringing a new product or service to the market, including production, distribution, marketing, and sales.

Full-Scale Production

The manufacturing process at its maximum capacity, producing the highest quantity of goods to meet demand.

Marketing Dashboard

A visual display of the most important marketing metrics and KPIs, designed to give an immediate overview of marketing performance and insights for decision-making.

Market Testing

The process of evaluating the viability of a new product or service through targeted research with a specific segment of the market.