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time managment assignment

By Zachary Freeman,2014-11-18 18:58
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time managment assignmenttime,Time,TIME

    Assignment

    ‘Illustrate some effective time management techniques and critically analyze the relationship

    between effective time management and the performance of individuals and businesses

     DENG YIBING

     2050011D

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     Content

    Introduction ............................................................................... 3 1. Time management strategies .................................................. 3

    1.1 Setting priorities ............................................................. 4

    1.2 Planning ......................................................................... 5 2. Effective time management and the performance .................. 6

    2.1 3E for organizational performance ................................. 6

    2.2 Taylor's management theory ........................................... 8

    2.3. Maslow's Theory ........................................................... 9

    2.4 Reasonable empowerment ............................................ 10 Conclusion ............................................................................... 12 Reference ................................................................................. 13

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Introduction

    Time, as an irrecoverable resource, which cannot be stored and accumulated, is regarded as a valuable asset in the corporate world. According to Adeyinka (2012), time management is defined as the process to accomplish given tasks and goals in an effective and efficient way. Effective time management, which boosts the productivity and working efficiency, enables the personnels to be more organized and also brings increased profits and competitive force for organizations (Adebisi, 2013). In this paper, some effective time management strategies in terms of setting priorities and planning will be explored initially. By the approach of analyzing different theories associated with time management, the critical analysis of the relationship between the effective time management and the performance of individuals and organizations will be provided subsequently.

1. Time management strategies

    Effective time management increases the efficiency and productivity and enables individuals to be more productive and organized (Lucco, 1994). In this part, two strategies associated with time management will be explored in terms of setting priorities and planning.

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1.1 Setting priorities

    One of the techniques to manage time effectively is to understand and identify the most important task which will produce the detrimental influence if it not be completed on time. Whatever you desire to do, there is always something important you have to do first (Jones and Hood, 2010). “It is more important to do the right things than to do things right.” (Adeyinka, 2012). According to the Pareto principle, 80% of the value of your activities come from 20% of your activities. In other words, if you have ten tasks to accomplish in the given time, two of these tasks should be drawn attention to and worth-focusing on as they exert the greatest effect on the value of your work (ibid).

    The ability to rank the importance correctly is the key determine factor of effectiveness in time management (Jones and Hood, 2010). Given the importance of setting the priorities, some techniques should be provided. Firstly, according to the Covey theory, work, in accordance with the importance and urgency , basically can be divided into four " quadrants " : both urgent and important (such as the customer complaint, the financial crisis, etc.), it is important but not urgent (such as new opportunities,

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    staff training, etc.), urgent but not important (such as administrative inspection, department meetings, etc.), neither urgent nor important (such as polite chat, boring letters, etc.). In the limited time, in order to accomplish the tasks efficiently and effectively, people should rank highly the important but not urgent affairs ( Njagi and Malel, 2012). Furthermore, firmly refusing to do tasks which are not your responsibility. One of time wasters is the inability to say no. Persons, who can’t say no,

    render their time out of balance, leading their priorities to suffer and be confused (Orlikowski and Yates, 2002).

1.2 Planning

    Another technique to manage time successfully is planning. According to the Rule of Indispensability, it will save 90% of the effort to achieve your goals if you spend l0% of time to plan your activities in advance.

    Firstly, listing the activities you have to complete in different periods and then re-adjusting the plan according to the changeable situation. According to Adeyinka (2012), if everything goes in accordance with the plan, then it is a recognizable signal that something is going wrong. Therefore,

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    besides the adjustment and optimization in time, contingency plans should establish to back up the previous one. In addition, building the slack time as well as the time for recreation. The overwork, which causes fatigue and stress, decreases the working efficiency and produces an imbalance between healthy work and home-life (Adebisi, 2013). Moreover, some external factors such as physical surroundings should be taken into consideration. Good physical surroundings enable individuals to use their time more effectively and efficiently and vice versa (Jones and Hood, 2010). For instance, if you do not have your own space to work, it increases the communications with others as well as the interruptions which produce the time wasters to a large degree and decrease your working efficiency as a result (Njagi and Malel, 2012).

2. Effective time management and the performance

    In this part, the relationship between effective time management and the performance of individuals and organizations will be critically analyzed according to different theories and means related to the time management.

2.1 3E for organizational performance

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    According to Jones and Hood (2010), the organizational performance is measured by the degree of achievement of the organizational objectives at what cost and efficiency.

    3E, a useful means to appraise the performance of businesses, is the acronym for Economy, Efficiency and Effectiveness. More specifically, economy means purchasing the correct quantity and quality resources from the right source, including employees and materials, at a reasonable price (Adeyinka, 2012). Efficiency is related to the resources usage and it refers to the relationship between input and output. High level of efficiency is to produce maximum output with minimum input(ibid). Effectiveness, comparing actual impacts with planned or wanted impacts, is the extent to which objectives have been achieved ( Njagi and Malel, 2012). It refers to the aforementioned views which is sated as “to do the right things not to do things right.”

    How to manage time effectively is a major challenge for managers to face as the outcome of the management will reflect on the organizational performance (Njagi and Malel, 2012). Effective time management improves the efficiency and effectiveness of organizational activities, therefore it enhances

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    the organizational performance (Jones and Hood, 2010).

2.2 Taylor's management theory

    Tracy's Law states that the degree of working difficulty equals the square of the number of the working steps. For example, to complete a task with five steps, then the difficulty of this task is 25, and the completion of another work with two steps, then the difficulty of this task is 4.

    One obvious feature of time is irreversibility, which dramatically increases the value of it (Adeyinka, 2012). Being recognized the importance of time and simplified working procedures, Taylor advocated the scientific management which aims to improve labor productivity in the factory. Taylor’s management theory is based on the standardization in terms of tool, operation, labor movement and environment (Orlikowski and Yates, 2002). The manager calculate the optimum rate of work, taking into account that would affect their productivity and output ( Adeyinka, 2012).

This management method has been sparked the heated

    controversy, some researchers believed that this method which

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    improves the productivity and generates huge profit for organizations, should be applied and promoted unceasingly. Others, however, claimed that this method which placed the humans be a subordinate position to the machine, contradicted the value of workers (Beirne,2013). No mater how heated the debate is, Taylor’s management method is the principal

    manifestation of the value of time management in an organization.

2.3. Maslow's Theory

    Abraham Harold Maslow effectively combined time

    management with the hierarchy of needs. He built a hypothetical pyramid which been divided into five distinct levels. From bottom to top of the pyramid, the positions of those needs are our basic needs, safety, human bonding ,self-esteem and self actualization. The five separated levels were examples of different aspects of human life. For individuals, the theory actually enables them to identify the importance of these components, although it does not clear and definite the specific time period to attain them ( Njagi and Malel, 2012).

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    When people understand their needs, they will place the needs in priority position and accordingly spent the time to accomplish the goals (Jones and Hood, 2010). For instance, the bottom level of pyramid is to meet the physical demands and persons who set this basic need as their goals and priorities will be motivated to spend a greater portion of their time to boost the standards of living by satisfying themselves. In order to meet their needs, people behave actively and manage their time effectively in working and daily life, which keeps the pace of a high level of performance (Njagi and Malel, 2012).

2.4 Reasonable empowerment

    Reasonable empowerment in an organization has a profound effect on employees, managers and business in terms of improving the performance (Orlikowski and Yates, 2002). Totally empowerment brings a sense of insecurity for middle-level supervisors as their authority is threatened by the redistribution of power. Additionally, totally empowerment increased the risk of making incorrect decisions as the empowered workers who lack of managerial experience make the short-sighted and self-interested choices (Beirne,2013). In this part, only reasonable empowerment will be discussed.

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