The 80/20 Rule Suggests That Business Owners

question 80

Multiple Choice

The 80/20 rule suggests that business owners:

• A)try to exercise control 80% of the time over 20% of their inventory.
• B)identify those inventory items that represent the greatest value to the business and focus inventory control efforts on them.
• C)focus on the 80% of their inventory that only produces 20% of their results in order to improve performance.
• D)try to earn 20% more out of the 80% of their inventory that isn't producing.

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Definitions:

Indirect Approach

A communication strategy that aims to address issues or communicate messages in a more roundabout or subtle manner.

Hostile

An environment, situation, or behavior characterized by antagonism, unfriendliness, or opposition.

Conclusion

The final part of something, such as an argument or a piece of writing, summarizing the main points or findings.

Recommendation

A suggestion offered after consideration, often meant to guide decisions or actions in a particular direction.