Jun 1, 2017 - India the second largest consumer of tobacco and tobacco products globally

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from TradeBriefs FMCG Daily Newsletter

Sree Vijaykumar

From the Editor's Desk
We've all heard the 80-20 rule or the Pareto principle, i.e. 80% of the effects come from 20% of the causes. In 2013, 8.4 percent of the world population controlled 83.3 percent of the world's wealth. In 2015, one search engine, Google, received 64 percent of search queries. Why does this happen? Why do a few people, teams, and organizations enjoy the bulk of the rewards in life? James Clear suggests that the process of accumulative advantage is the hidden engine that drives the 80/20 rule. Small differences in performance can lead to very unequal distributions when repeated over time. This is yet another reason why habits are so important. The people and organizations that can do the right things, more consistently are more likely to maintain a slight edge and accumulate disproportionate rewards over time. You only need to be slightly better than your competition, but if you are able to maintain a slight edge today and tomorrow and the day after that, then you can repeat the process of winning by just a little bit over and over again. And thanks to Winner-Take-All Effects, each win delivers outsized rewards. More here

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