Meaning, Definition, Nature, and Benefits of Time Management

Meaning, Definition, Nature, and Benefits of Time Management. Image credit from ilearnlot.com.

What is Means of Time Management? Managing time means investing time to get what you decide you want out of life, including what you want out of the venture created. This definition assumes that the businessmen know what they want out of life-goal-oriented action. It implies that the businessmen have focused values about the venture, work, family, social activities, possessions, and themselves. Time Management refers to making the best use of time as time is always limited. And refers to managing time effectively so that the right time is allocated to the right activity. Effective time management allows individuals to assign specific time slots to activities as per their importance. So, what we discuss the topic; Meaning, Definition, Nature, and Benefits of Time Management.

The Concept of Management is explained in Time Management: Meaning, Definition, Nature, and Benefits.

It is rightly said, “Time and Tide wait for none”. An individual should understand the value of time for him to succeed in all aspects of life. People who waste time are the ones who fail to create an identity of their own. In this article we discuss; Meaning and Definition of Time Management, Defining the Task and Priority Setting, Nature of Time Management, Benefits of Time Management, and also, Obstacles to Effective Time Management. Time management is not a way to make you work harder and longer, but a means to help you work smarter to accomplish your work more easily and rapidly.

Meaning and Definition of Time Management:

Time is the most precious yet most limited resource of the businessmen. It is a unique quantity-the businessman cannot store it, rent it, hire it, or buy it. With its supply being inelastic, it is totally perishable and irreplaceable. Everything requires it and it passes at the same rate for everyone. While important throughout the life of the venture, time is particularly critical at start-up and during growth and expansion of the venture. No matter what the businessman does, today’s ration of time is 24 hours, and yesterday’s time is already history. One of the most frequently mentioned problems of businessmen is encapsulated in the phrase, “If I only had more time…” This concern is a common problem among all busy people. It seems that no one has enough time.

Why does the problem of time management exist for the businessman? It is basically due to a lack of information and a lack of motivation. The businessman must want to manage his or her time effectively and then spend some time to acquire the information necessary to accomplish this. Effective time management starts with an understanding of some benefits that will result. Knowing the art of time management will help a businessman to become productive for anything he does. Determining the goal or purpose will help in setting up the allotted time for everything. Following a schedule is what works for many, but others may need intensive guidelines such as recording all activities including the flow of thought within a week.

Such a technique will help in recognizing and determining the productive hours and the wasted time, as well. Paying attention to negative thoughts and engagement to unproductive activities and conversations are the usual causes, which make people fail in finishing the necessary things that they have to do in a certain time frame. Making to-do lists will also help, especially if the list will enumerate the starting and end time of every activity. It is also vital that a person gives allotted time for all the activities and meetings that will help pave the way to his success. It is also essential to plan ahead of time all activities within the day.

In this way, there is a guarantee that everything will run smoothly, and possible delays can be easily adjusted. It will help to ask the cooperation of other people around so that disturbances will be limited. Aside from discipline, it is also vital to develop perseverance in order to get all the work done according to schedule. Procrastination also includes a cheat time, in which a person allows interruptions or breaks, which will supply and culminate another inspiration to keep things going. It will help a person to focus and concentrate by blocking distractions while at work, such as limitations in opening social networking sites. At the end of the day, it is vital to evaluate all activities that will help in identifying whether the schedule is followed according to the given goals.

Defining the Task and Priority Setting:

In organizational time management we can delineate the overall tasks in the form of the following:

Urgent and very important matters: these are organizational matters or activities that require immediate concern or decision-making. They are regarded as urgent because they basically influence the overall performance of an organization.
Less urgent and very important matters: these are the activities that are crucial to the organization’s performance but are dealt with over a wider range of time without any urgency.
Urgent and less important matters: these are activities that are not crucial to the organization but they require immediate concern. They are seen next to those activities, which are both urgent and more important.
Less urgent and less important matters: these are organization matters or activities that require the least attention both in urgency and importance of all the organizational activities. They are dealt with after all the above activities are executed.

Characteristics or Nature of Time Management:

The following Characteristics or Nature of Time Management below are:

Effective Planning for the Organization.
Set Goals and Objectives for Require.
Setting deadlines for work.
The delegation of responsibilities for management.
Prioritizing activities as per their Opinions, and.
Right time on the right activity.

Now, Explain each one;

Effective Planning for the Organization: Plan your day well in advance. Prepare a To Do List or a “TASK PLAN”. Jot down the important activities that need to be done in a single day against the time that should be allocated to each activity. High Priority work should come on top followed by those which do not need much of your importance at the moment. Complete pending tasks one by one. Do not begin fresh work unless you have finished your previous task. Tick the ones you have already completed. Ensure you finish the tasks within the stipulated time frame.
Set Goals and Objectives for Require: Working without goals and targets in an organization would be similar to a situation where the captain of the ship loses his way in the sea. Yes, you would be lost. Set targets for yourself and make sure they are real ones and achievable.
Setting deadlines for work: Set deadlines for yourself and strive hard to complete tasks ahead of the deadlines. Do not wait for your superiors to ask you every time. Learn to take ownership of the work. One person who can best set the deadlines is you yourself. Ask yourself how much time needs to be devoted to a particular task and for how many days. Use a planner to mark the important dates against the set deadlines.
The delegation of responsibilities for management: Learn to say “NO” at the workplace. Don’t do everything on your own. There are other people as well. One should not accept something which he knows is difficult for him. The roles and responsibilities must be delegated as per interest and specialization of employees for them to finish tasks within deadlines. A person who does not have knowledge about something needs more time than someone who knows the work well.
Prioritizing activities as per their Opinions: Prioritize the tasks as per their importance and urgency. Know the difference between important and urgent work. Identify which tasks should be done within a day, which all should be done within a month and so on. Tasks which are most important should be done earlier.
Right time on the right activity: Develop the habit of doing the right thing at the right time. Work done at the wrong time is not of much use. Don’t waste a complete day on something which can be done in an hour or so. Also, keep some time separate for your personal calls or checking updates on Facebook or Twitter. After all human being is not a machine.

Benefits of Time Management:

The following Benefits of Time Management below are:

Increased Productivity: Reflects the fact that there is always enough time to accomplish the most important things. Through a conscious effort and increased focus, the businessman can determine what is most important to the success and growth of the venture and focus on those things rather than on less important or more enjoyable things; the businessman must learn to focus on the majors, not the minors.
Increased job satisfaction: Getting more important things done and being more successful in helping the venture grow will give the businessmen more job satisfaction.
Improved interpersonal relations: There will be an improvement in the esprit de corps of the venture as there are less time pressure, better results, and more job satisfaction for the businessmen. While total time spent with other individuals in the company may in fact decrease, the actual time will be of better quality as the businessmen are free to be involved with interrelations. Also, more time becomes available for the businessmen to spend with family and friends.
Reduced time anxiety and tension: Worry, guilt, and other emotions tend to reduce mental effectiveness and efficiency so that decision making is less effective. Effective time management reduces concerns, stress, and anxieties, allowing better decisions to be made in a shorter time.
Better health: All of the above benefits culminate in this. Large amounts of energy and persistence are needed for the growth as well as for the start of a venture. High energy levels and long working hours require good health. Poor control of time often leads to mental and physical fatigue, poor eating habits, and no exercise. If there is one thing the businessman needs to help the venture grow, it is good health. A good health is a by-product of good time management. On a personal level, you will certainly feel healthier, more energetic, and in a generally better mood.
Efficient: You will be more efficient in serving your district and will be able to support your clubs better.
Successful: You will achieve greater success in your very important, and highly visible, role as a Lions Leader.

Obstacles to effective time management:

There are a lot of things that make it difficult for us to manage our time effectively. Let’s consider some of the most common ones, and see if they apply to us:

Organized: Avoid keeping stacks of file and heaps of paper at your workstation. Throw what all you don’t need. Put important documents in folders. Keep the files in their respective drawers with labels on top of each file. It saves time which goes on unnecessary searching.
Don’t misuse time: Do not kill time by loitering or gossiping around. Concentrate on your work and finish assignments on time. Remember your organization is not paying you for playing games on computer or peeping into other’s cubicles. First, complete your work and then do whatever you feel like doing. Don’t wait till the last moment.
Unclear objectives: It’s hard to hit a target with your eyes closed, and it’s just as hard to accomplish something when you aren’t exactly clear about what you want to achieve.
Disorganization: It’s easy to see when your desk is too messy, but sometimes you have to step back and ask yourself if you are taking an organized approach in completing all of your tasks.
Inability to say “no”: We all want to be as helpful as we can when others need us, but this can mean taking time away from other priorities to do something we may not have planned.
Interruptions: Many times we are in the middle of accomplishing something really important and the telephone rings. These calls can not only take you away from your task but sometimes they interrupt your train of thought and you can’t return to where you were without retracing your steps.
Other interruptions: We all like to visit with others, but conversations at inappropriate times can cost us time when we have to stop what we are doing and redirect ourselves from our plans.
Periods of inactivity: As much as we think we are busy, there are times in our day when we are not really doing anything. Recognizing and making use of these times can have a positive effect on our efforts.
Too many things at once: Many of our tasks are not routines. They require concentration to detail. When we are attempting to do too many different things at one time, each individual task suffers as a result.
Stress and fatigue: Everyone experiences stress from time to time, and sometimes we actually operate a little better when there is some level of stress. Too much stress, on the other hand, causes our work to suffer and wears us down physically and mentally. Dealing with stress is an important part of time management.
All work and no play: Most successful people know how to balance work and play. When work takes over your life, you not only give your body little time to re-energize, but you may end up sacrificing the really important things in life like family and friends.