First Quadrant (interesting/essential) is never an issue to allocate. In the ideal world, all work would be 1st quadrant. It's important and good for morale.
Second Quadrant (undesirable/essential) is what companies have to do. It's a morale liability, but too important not to get it done.
Third Quadrant (interesting/discretionary) is what one hopes will be achieved with slack in the schedule. Ideally, it'll pay off in the long term. It's good for morale, but not relevant to the immediate path-of-execution.
Fourth Quadrant (undesirable/discretionary) is the junk that should never exist.
Originally I used "category" rather than "quadrant", but quadrant implies a certain visualization, even if the numbering is different.