When it comes to turbojet operations...
The general rule of thumb is to use the least amount of flaps necessary for the existing conditions. For example, on our aircraft, we normally takeoff with slats and flaps 12; however, we will sometimes use slats and flaps 20 if the runway is short and slats and flaps 0 if the runway is long enough. (The less flaps you use on takeoff, the better your second segment climb performance is.)
Why is this important? FAA regulations require that transport category aircraft (both airliners and bizjets) be operated at a weight and with a center of gravity location that will allow them to achieve a certain minimum level of performance in the event of an engine failure during takeoff. The required performance level varies upon the terrain and obstacles surrounding the airport. However, the basic requirement is that in the event of an engine failure during takeoff, the aircraft must be able to either (1) stop on the remaining runway; or (2) continue the takeoff and clear all terrain and charted obstacles on the assigned flight path by a designated vertical distance. In other words, if an engine fails on takeoff, the aircraft must either be able to stop on the remaining runway or be light enough to continue the takeoff on the remaining engine and be able to climb to a safe altitude and return to an airport for landing – a guaranteed safe takeoff if you will.
Hope this helps you to understand.
'Sled