Shocklogic’s values are the heart and soul of the company. They are built into every aspect of our products and services, and they ensure that we never lose sight of why we do what we do.
This blog series offers a detailed exploration of Shocklogic’s core values. In the previous blogs we have looked at our values, 360 Degrees of Care and Be Kinder Than Necessary, and how they can help improve our interactions and relationships with others. In this blog we are focusing on Pareto’s Law, which we believe is an excellent response to today’s fast-paced world, and to time becoming an ever more precious commodity.
Pareto’s Law is based on the idea that most things are not evenly distributed, and that they instead often roughly conform to an 80/20 split. The term is named after the Italian economist Vilfredo Pareto, who observed that 80% of Italy’s wealth belonged to just 20% of the population.
However, over time Pareto’s Law has come to be more closely associated with productivity and cause and effect, and it is this aspect that we’ve incorporated into our company values. By focusing on the 20% of tasks that will produce 80% of the results, we can ensure we are focusing on the most important things in order to use our time more efficiently and to more effectively achieve our goals.
In connection with Pareto’s Law, Steven Covey’s book, 7 Habits of Highly Effective People, emphasises the importance of prioritising tasks, taking responsibility for our lives, and focusing on the things we can control. One habit is to “begin with the end in mind”, which involves having a clear vision of what we want to achieve and working towards it. Another is to “put first things first”, carefully selecting the order in which tasks are completed relative to their level of importance.
Ultimately, it’s worth remembering that Pareto’s Law should be thought of as more of a guiding principle than a universal truth. It’s about recognising the most effective way of doing something and prioritising tasks accordingly. Although it would be an outstanding achievement to build 80% of a bridge with only 20% of the effort usually required, you would still need the other 20% of the bridge.
Our next blog will delve into our value Win-Win or No Deal, with a focus on our commitment to fairness and integrity. It is a guiding principle that helps ensure we maintain mutually beneficial, long-term relationships with our colleagues, clients, and suppliers.