Posted in Human Resources Articles, Total Reads: 2396
, Published on 03 June 2011
Time is important to everyone. From school children to homemakers to large corporations, time is something that cannot be taken lightly. However it’s the degree of importance that varies from individual to individual. For a student in the 2nd grade, time may not be as important as it is for a cancer patient who is counting his last days! Understanding the meaning of time and excelling in how to make the most of it is essential.
However in the corporate world time is crucial for every single organization. The popular phrase, “A stitch in time saves 9” can be perfectly applicable in this case. Every organization has loop holes that cause time lags in their day-to-day activities which can lead to major losses.
In business TIME=MONEY. Therefore the best investment for an individual is his time management.
Here are some pointers which can enable one to eliminate his/her destructive hours:
1) Lack of clarity and objectives: When you do not have clearly defined goals you tend to waste a lot of time in random activities. Employees should be assigned with clear KRA (Key Result Areas). KRAs specifically target an activity an individual excels in hence increasing his productivity.
2) Delegation with responsibility enables an entrepreneur to get more productivity out of his working hours. Effective employees increase profitability and enhance growth.
3) The ability to say NO with courage and compassion is a major time saver in an entrepreneur’s time. Making the right decisions at the appropriate time increases efficiency in the work place.
4) Interruptions in work by telephones, e-mails, social networking and drop-in visitors are another time wasters. Allotting appropriate time to each task will help.
5) Procrastination and day dreaming without action delays growth of a business organization.
6) Being disciplined and following your time management chart and not trying to be a perfectionist helps achieving greater results.
7)Work should be prioritized correctly with the help of ABC analysis, Pareto analysis, The Eisenhower Method, POSEC method etc.
• ABC Analysis: This is the most conventional and effective technique to prioritize work. It is used to characterize large data into groups. The groups are distinguished in A, B & C. This helps to save a lot of time.
A – Indicates all urgent and vital tasks.
B – Indicates Tasks those are vital but not urgent.
C – Indicates miscellaneous tasks that are not that important.
Each group is ordered according to its degree of importance. ABC analysis can be incorporated for more than 3 kinds of priorities and also can be combined with other techniques of analysis.
• Pareto Analysis: It is said that most of the productive work can be done at the beginning of a working day because the employees are energized. Hence allotting the most important jobs in the first 3 hours of the day is profitable.
Using the above mentioned modi operandi any Management student or start up corporations can do exceptionally well in academics as well as their work.
Strategic time management not only improves efficiency and increases productivity but it buys you more time to do other activities which you enjoy doing. One can always pursue his hobbies whether it is dancing, working out, listening to music, socialize or just reading a great novel. It’s not for the first time someone is writing about how important it is to utilize your hours. Today we are young and life is long, there maybe time to kill today.
But tomorrow you do not want to wake up and realize that ten years have just gone behind you.
About the Author : Mr Akhil Aryan is the Director of Ion Education, Mumbai. Ion Education is India's first interactive training institute for: Financial Markets, Real Estate and Entrepreneurship. Ion Education is a unique concept in which the education is imparted not by text books but through interactive sessions on the concepts. Mr Akhil can be contacted on
and the company website is www.ioneducation.in
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