Increased global competitiveness, reduced product life cycles, rapid technological advancements, and dynamic customer requirements have drastically altered the nature of competition. Researchers and entrepreneurs have different ways how to achieve competitive advantages. This article examines...

Vilfredo Pareto (1848 - 1923) studying the inequality of welfare distribution in Italy during the nineteenth century developed a useful tool named „the principle 80:20“ which was later adopted in many fields to explain that a small number of causes can be responsible for a large percentage...