IMPORTANCE OF TIME AS RESOURCE IN MANAGING ORGANIZATIONS

Abstract

Time by considering as a resource gives a true measure of how an organization performs efficiently and effectively. Production and productivity are tuned to time, just as purchase and sales or cash flow and manpower. From time, the immemorial man had a sense of time which enabled him to calculate the life of all objects and the very process of ageing and obsolescence. Time is intangible, non-recurring, unstoppable and unpreserved. Therefore, managers to be successful need to have the skills in time management. In the emerging scenario of business management, time is becoming another area for management operations to address. All the peculiarities associated with time; it could be reckoned as a strategic force. This paper addresses the uniqueness of time as a management resource, and examine its role as a strategic force. The attempt is made to depict the life cycle of an organization into distinguishable growth models in relation to time. A time management matrix reflecting the convergence of professional demands and individual time is worked out and a hypothetical productivity time flowchart as a basic reference point of productive efficiency is conceptualized.