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The cover of The Peter Principle (1970 Pan Books edition). The Peter principle is a concept in management developed by Laurence J. Peter which observes that people in a hierarchy tend to rise to "a level of respective incompetence": employees are promoted based on their success in previous jobs until they reach a level at which they are no longer competent, as skills in one job do not ...
Personal boundaries or the act of setting boundaries is a life skill that has been popularized by self help authors and support groups since the mid-1980s. Personal boundaries are established by changing one's own response to interpersonal situations, rather than expecting other people to change their behaviors to comply with your boundary. [1]
Given a set of choices and a way of valuing them, the Pareto front (or Pareto set or Pareto frontier) is the set of choices that are Pareto-efficient. By restricting attention to the set of choices that are Pareto-efficient, a designer can make trade-offs within this set, rather than considering the full range of every parameter.
A study of the ordering of needs in Asia found differences between the ordering of lower and higher order needs. For instance, community (related to belongingness and considered a lower order need in Maslow's hierarchy) was found to be the highest order need across Asia, followed closely by self-acceptance and growth. [52]
For example, providing a limited set of well-designed investment options in a retirement plan can help people make better financial decisions. In economic models based on behavioral economics, implementing bounded rationality implies finding replacements for utility maximization and profit maximization as used in conventional general ...
A bond is a form of debt where the bond issuer borrows money in return for paying interest and returning the bond’s principal to the buyer when the bond matures. Bonds are commonly issued by ...
The Pareto principle may apply to fundraising, i.e. 20% of the donors contributing towards 80% of the total. The Pareto principle (also known as the 80/20 rule, the law of the vital few and the principle of factor sparsity [1] [2]) states that for many outcomes, roughly 80% of consequences come from 20% of causes (the "vital few").
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