SOME LAWS IN IT, BUSINESS AND MANAGEMENT

Compiled by Vench Limpiada

PARKINSON'S LAW
Observation that "work expands to fill the time available for its completion," and that a sufficiently large bureaucracy will generate enough internal work to keep itself 'busy' and so justify its continued existence without commensurate output. Proposed in 1955 in jest by the UK political analyst and historian Cyril Northcote Parkinson (1909-93) while criticizing the British Admiralty (which was growing bigger while the number of sailors and ships under its care was going down). It is quoted more as a keen insight into the functioning of large organizations than as an empirical reality.

In computers: Data expands to fill the space available for storage.or Storage requirements will increase to meet storage capacity.In terms of computer executable code filling CPU resource (see software bloat), a similar law is Wirth's law.
Source:: http://www.businessdictionary.com/definition/Parkinson-s-Law.html#ixzz20CExCS1B

PARETO PRINCIPLE'S LAW

The Pareto principle (also known as the 8020 rule, the law of the vital few, and the principle of factor sparsity) states that, for many events, roughly 80% of the effects come from 20% of the causes. 80% of the output comes from 20% of the people. Business-management consultant Joseph M. Juran suggested the principle and named it after Italian economist Vilfredo Pareto, who observed in 1906 that 80% of the land in Italy was owned by 20% of the population; he developed the principle by observing that 20% of the pea pods in his garden contained 80% of the peas. It is a common rule of thumb in business; e.g., "80% of your sales come from 20% of your clients". Mathematically, where something is shared among a sufficiently large set of participants, there must be a number k between 50 and 100 such that "k% is taken by (100 k)% of the participants". The number k may vary from 50 (in the case of equal distribution, i.e. 100% of the population have equal shares) to nearly 100 (when a tiny number of participants account for almost all of the resource). There is nothing special about the number 80% mathematically, but many real systems have k somewhere around this region of intermediate imbalance in distribution.[3]

PETER PRINCIPLE
Observation that in an hierarchy people tend to rise to "their level of incompetence." Thus, as people are promoted, they become progressively less-effective because good performance in one job does not guaranty similar performance in another. Named after the Canadian researcher Dr. Laurence J. Peter (1910-90) who popularized this observation in his 1969 book 'The Peter Principle.'
Source: http://www.businessdictionary.com/definition/Peterprinciple.html#ixzz20CF932AE

BUREAUCRACY
System of administration distinguished by its (1) clear hierarchy of authority, (2) rigid division of labor, (3) written and inflexible rules, regulations, and procedures, and (4) impersonal relationships. Once instituted, bureaucracies are difficult to dislodge or change.
Source: www.businessdictionary.com