Final answer:
The law of diminishing returns states that as additional resources are added to achieving a goal, the marginal benefit from those additional resources will decline. This principle applies to Wildly Important Goals (WIGs) as well, highlighting the need for efficient resource allocation.
Step-by-step explanation:
The law of diminishing returns, in the context of Wildly Important Goals (WIGs), refers to the concept that as additional resources are added to achieving a certain goal, the marginal benefit from those additional resources will decline.
For example, let's say a company sets a WIG to increase its monthly sales by 10%. Initially, implementing certain strategies like increased advertising and discounts may lead to significant sales growth. However, as the company continues to invest more in these strategies, the incremental increase in sales may become smaller, eventually reaching a point where investing additional resources does not result in any significant growth.
This principle highlights the importance of resource allocation and finding the optimal balance between investment and returns when pursuing Wildly Important Goals.