Tag: MBA Notes

  • How to Explain Observing Trends in Entrepreneurship?

    How to Explain Observing Trends in Entrepreneurship?

    Identifying Opportunities for Observing Trends; The First approach to identifying opportunities is to observe trends and study how they create opportunities for entrepreneurs to pursue. Also learn, What is the Difference between Leadership and Entrepreneurship? This article explains to the question How to Explain Observing Trends in Entrepreneurship? The most important trends to follow are economic trends, social trends, technological advances, and political action and regulatory changes. As an entrepreneur or potential entrepreneur, it’s important to remain aware of changes in these areas

    Learn and understand, Explaining are Observing Trends in Entrepreneurship.

    This sentiment affirms by Michael Yang, the founder of Become.com, a comparison shopping site, who believes that keen observation skills and a willingness to stay on top of changing environmental trends are key attributes of successful entrepreneurs: One of the most important attributes of a good entrepreneur is having a keen observation ability. Seeing what’s needed in people’s everyday lives and coming up with innovative new ideas and services that meet those needs . . . I always believe the entrepreneurs that anticipate trends and maintain observations of what’s needed . . . to solve those needs will have a higher chance of succeeding in the marketplace.

    When looking at environmental trends to discern new business ideas, there are two caveats to keep in mind. First, it’s important to distinguish between trends and fads. New businesses typically do not have the resources to ramp up fast enough to take advantage of a fad. Second, even though we discuss each trend individually, they are interconnecting and should consider simultaneously when brainstorming new business ideas.

    For example, one reason that smartphones are so popular is because they benefit from several trends converging at the same time, including an increasingly mobile population (social trend), the continued miniaturization of electronics (technological trend), and their ability to help users better manage their money via online banking and comparison shopping (economic trend). If any of these trends weren’t present, smartphones wouldn’t be as successful as they are and wouldn’t hold as much continuing promise to be even more successful as is the case.

    A summary of the relationship between the environmental factors just mentioned and identifying opportunity gaps. Next, let’s look at how entrepreneurs can study each of these factors to help them spot business, product, and service opportunity gaps. Read more, What are the Participation and Organizational Climate?

    Economic Forces:

    Understanding economic trends help determine areas that are ripe for new business ideas as well as areas to avoid. When the economy is strong, people have more money to spend and are willing to buy discretionary products and services that enhance their lives. In contrast, when the economy is weak, not only do people have less money to spend, they are typically more reluctant to spend the money they have, fearing the economy may become even worse and that in turn, they might lose their jobs because of a weakening economy.

    Paradoxically, a weak economy provides business opportunities for start-ups that help consumers save money. Examples include GasBuddy and GasPriceWatch.com, two companies started to help consumers save money on gasoline. A similar example is e.l.f., a discount retailer of women’s cosmetics. The company (which stands for Eyes Lips Face) sells cosmetics products for as little as $1.00.

    First:

    A poor or weak economy also provides opportunities for firms to sell upscale and everyday items at a “discount.” For example, daily deal sites like Groupon and LivingSocial have experienced rapid growth by providing consumers’ access to local providers of massages, trips to museums, high-end restaurants, and similar products or services at deep discounts. A similar example is Gilt Groupe, which sells luxury goods at a discount on time-limited sales. Brick-and-mortar retailers are affected by the search for discounts too.

    For example, in 2009, Neiman Marcus reported a 14.8 percent drop in sales while Family Dollar experienced a 25 percent increase in revenues. The same mindset is contributing to people wanting the most value for their money, across the spectrum. For example, the recession has caused an upswing in the number of people frequenting local farmers markets, where people can buy locally grown produce, meats, and other food products that are fresher and often cheaper than similar products at the grocery store.

    Second:

    It’s also important to evaluate how economic forces affect people’s behaviors beyond looking for discounts and the most value for their money. For example, when the economy is weak, more people go back to school; largely as a result of poor employment prospects. This trend provides opportunities not only for traditional and online colleges and universities but for businesses that develop products to assist them.

    An example is BenchPrep, the student-initiated business profiled in the opening feature. BenchPrep, which sells Apple iPhone and Android apps that help people prepare for college admission tests, is benefiting from an increase in college enrollments. Similarly, when the economy is poor, more people start businesses. Web-based businesses like Etsy, which provides a platform for people to sell handmade items; thrive when an increasing number of people are looking to open full-time or part-time businesses.

    Third:

    An understanding of economic trends can also help identify areas to avoid. For example, this is not a good time to start a company that relies on fossil fuels; such as airlines or trucking or perhaps even local transportation-related businesses such as a taxicab company, because of high fuel prices. Certain product categories suffer as a result of economic circumstances. This is not a good time to open a store or franchise that sells premium-priced food products like cookies or ice cream.

    Social Forces:

    An understanding of the impact of social forces on trends and how they affect the new product, service, and business ideas is a fundamental piece of the opportunity recognition puzzle. Often, the reason that a product or service exists has more to do with satisfying a social need than the more transparent need the product fills. The proliferation of fast-food restaurants, for example, isn’t primarily because of people’s love for fast food but rather because people are busy and often don’t have time to cook their meals.

    First Things:

    Similarly, social networking sites like Facebook and Twitter aren’t popular because they can use to post information and photos on a Web site. They’re popular because they allow people to connect and communicate with each other, which is a natural human tendency. Changes in social trends alter how people and businesses behave and how they set their priorities. These changes affect how products and services are built and sold. Here is a sample of the social trends that are currently affecting how individuals behave and set their priorities:

    • Aging of baby boomers,
    • The increasing diversity of the workforce,
    • Increasing interest in social networks such as Facebook and Twitter,
    • The proliferation of mobile phones and mobile phone apps,
    • An increasing focus on health and wellness,
    • Emphasis on clean forms of energy including the wind, solar, biofuels, and others,
    • Increasing the number of people going back to school and/or retraining for new jobs, and
    • Increasing interest in healthy foods and “green” products.

    Each of these trends is providing the impetus for new business ideas. An increasing emphasis on alternative forms of energy is spawning business ideas ranging from solar power to biofuels.

    Second Things:

    The aging of the baby boomers is creating business opportunities from vision care to tech assistance to senior dating sites. An example is Glaukos, a company that’s developing new approaches for treating glaucoma, which is an age-related eye disorder. There are now 76 million baby boomers (people born between 1946 and 1964) in the United States. Many baby boomers will develop glaucoma and similar age-related ailments. The fact that roughly 10,000 baby boomers in the United States are now retiring daily also creates entrepreneurial opportunities related to social trends associated with this population of senior citizens.

    Third Things:

    The proliferation of mobile phones and mobile phone apps is a social trend that’s opening business opportunities for entrepreneurs across the globe. For example, both Runkeeper, the focus of Case 1.1, and ScriptPad, the focus of Case 2.1, are mobile phone apps. In the past 10 years, the worldwide penetration of mobile phones has grown from 1 billion to 4 billion active users. One company, PharmaSecure, the focus of the “You Be the VC 2.1” feature, is leveraging this trend to save lives in developing countries. It’s estimated that 10 percent of medications sold worldwide are counterfeit. In India alone, 1 million people a year die from ingesting counterfeit drugs.

    Forth Things:

    PharmaSecure provides drug companies the ability to place a nine-digit alphanumeric code directly on the blister pack, medicine bottle or vial, or on the product’s label, along with a phone number. Consumers can verify the code and by extension make sure the drug they have purchased isn’t counterfeit by texting it to the accompanying phone number. In India, PharmaSecure’s initial market, 55 percent of the population has a mobile phone, and it’s the fastest-growing market for mobile phones in the world. If it weren’t for the proliferation of mobile phones in India and elsewhere, PharmaSecure’s business wouldn’t be possible.

    Fifth Things:

    The booming interest in social networking sites such as Facebook and Twitter is a highly visible social trend. Nearly half of all Americans are now members of at least one social network; double from just two years ago. Social networks not only provide people with new ways to communicate and interact with each other, but they act as platforms for other businesses to build on. Zynga, for example, the maker of popular online games like FarmVille and Scramble; became popular by making browser-based games that worked as application widgets on Facebook and MySpace. Similarly, entrepreneurs have launched businesses to start social networks that cater to specific niches. An example is PatientsLikeMe, the subject of Case 1.2, which is a social networking site for people with serious diseases.

    Technological Advances:

    Advances in technology frequently dovetail with economic and social changes to create opportunities. For example, there are many overlaps between an increased focus on health and wellness and technology. Airstrip Technologies, a recent start-up, enables doctors to monitor critical patient information remotely on a smartphone or computer. The company’s founding was motivated by a desire on the part of doctors to stay in closer contact with their critical care patients while away from the hospital and while those patients are receiving treatment in locations outside a hospital.

    Tech first:

    Advances in wireless technologies made the system possible. In most cases, the technology isn’t the key to recognizing business opportunities. Instead, the key is to recognize how technologies can use and harness to help satisfy basic or changing needs. It’s always been difficult for doctors to leave the bedsides of critically ill patients, for example. Now, as a result of the advent of smartphones and wireless networks; a company like Airstrip Technologies can develop products to help doctors remotely monitor their patients’ conditions.

    Technological advances also provide opportunities to help people perform everyday tasks in better or more convenient ways. For example, OpenTable.com is a Web site that allows users to make restaurant reservations online and now covers most of the United States. If you’re planning a trip to San Diego, for example, you can access OpenTable.com, select the area of the city you’ll be visiting, and view descriptions, reviews, customer ratings, and in most cases the menus of the restaurants in the area.

    You can then make a reservation at the restaurant and print a map and the directions to it. The basic tasks that OpenTable.com helps people perform have always been done looking for a restaurant, comparing prices and menus, soliciting advice from people who are familiar with competing restaurants and getting directions. What OpenTable.com does is help people perform these tasks more conveniently and expediently.

    Teah second:

    Another aspect of technological advances is that once a technology is created, products often emerge to advance it. For example, the creation of the Apple iPod, iPhone, iPad, and similar devices have in turned spawned entire industries that produce compatible devices. An example is H2OAudio, a company that was started by four former San Diego State University students; which makes waterproof housings for the Apple iPhone and iPod. The waterproof housings permit iPhone and iPod users to listen to their devices; while swimming, surfing, snowboarding, or engaging in any activity where the device is likely to get wet.

    A similar industry is the one dealing with smartphone apps. As of May 2011, there were over 381,000 third-party apps available in Apple’s App Store and over 294,000 in the Android Market (Google’s app store).13 The app market is large and growing, all because of the advent of wireless networks and smart devices like the iPhone and iPad. To provide perspective on how big the app market is, at 10:26 A.M. GMT on Saturday, January 22, 2011, the 10 billionth app was downloaded from the Apple App Store.

    Political Action and Regulatory Changes:

    Political and regulatory changes also provide the basis for opportunities. For example, new laws create opportunities for entrepreneurs to start firms to help companies, individuals, and governmental agencies comply with these laws. For example, the No Child Left Behind Act of 2002; which is based on the notion of outcome-based education requires states to develop criterion-based assessments in basic skills to periodically give to all students in certain grades. Shortly after the act was passed, Kim and Jay Kleeman, two high school teachers, started Shakespeare Squared; a company that produces materials to help schools comply with the act.

    Extra information:

    On some occasions, changes in government regulations motivate business owners to start firms that differentiate themselves by “exceeding” the regulations. For example, several years ago, the Federal Trade Commission changed the regulation about; how far apart the wood or metal bars in an infant crib can be. If the bars are too far apart; a baby can get an arm or a leg caught between the bars, causing an injury.

    An obvious business idea that might spawn by this type of change is to produce a crib; that advertises and position as “exceeding” the new standard for the width between bars and is “extra safe” for babies and young children. The change in regulation brings attention to the issue and provides ideal timing for; a new company to reassure parents by providing a product that not only meets but exceeds the new regulation.

    Business change:

    Some businesses and industries are so dependent on favorable government regulations that their literal survival threatens if a regulation change. An example of a business that fits this profile is Almost Family, a company that provides home health nursing services. Almost Family receives the majority of its income via fixed payments from Medicare based on the level of care that it provides its clients. As a result, the company’s profitability is highly sensitive to any changes in Medicare reimbursement policies.

    Political change:

    The political change also engenders new business and product opportunities. For example, global political instability and the threat of terrorism have resulted in many firms becoming more security conscious. These companies need new products and services to protect their physical assets and intellectual property; as well as to protect their customers and employees. The backup data storage industry; for example, is expanding because of this new trend in the tendency to feel the need for data to be more protected than in the past. An example of a start-up in this area is Box.net; which was funded by Mark Cuban, the owner of the Dallas Mavericks. Box.net allows its customers to store data “offsite” on Box.net servers, and access it via an Internet connection.

    How to Explain Observing Trends in Entrepreneurship
    How to Explain Observing Trends in Entrepreneurship? Also, the Image from the Internet.
  • What is a Planning?

    What is a Planning?

    What is a Planning? Meaning and Definition!

    “The control of urban development by a local government authority, from which a license must be obtained to build a new property or change an existing one.” Planning (also called forethought) is the process of thinking about and organizing the activities required to achieve the desired goal. It involves the creation and maintenance of a plan, such as psychological aspects that require conceptual skills. There are even a couple of tests to measure someone’s capability of planning well. As such, planning is a fundamental property of the intelligent behavior.

    Planning means looking ahead and chalking out future courses of action to following. It is a preparatory step. It is a systematic activity which determines when, how and who is going to perform a specific job. Planning is a detailed programme regarding future courses of action.

    It is rightly said, “Well the plan is half done”. Therefore planning takes into consideration available & prospective human and physical resources of the organization so as to get effective co-ordination, contribution & perfect adjustment. It is the basic management function which includes the formulation of one or more detailed plans to achieve an optimum balance of needs or demands with the available resources.

    Definition of Planning

    According to Urwick, “Planning is a mental predisposition to do things in an orderly way, to think before acting and to act in the light of facts rather than guesses”. Planning is deciding best alternative among others to perform different managerial functions in order to achieve predetermined goals.

    According to Koontz & O’Donell, “Planning is deciding in advance what to do, how to do and who is to do it. Planning bridges the gap between where we are to, where we want to go. It makes possible things to occur which would not otherwise occur”.

    Processes of Scientific Management Planning: Planning is the primary function of management. Nothing can be performed without planning. Writing a book starts with a plan. The plan refers to deciding in advance what will do in near future. In the business world, the organization has to achieve the objectives and goals.

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    In order to achieve these objectives and goals the organization plans:

    • What is to be done?
    • When is it to be done?
    • How is it to be done?
    • By whom it is to be done?

    The plan is a constructive reviewing of future needs so that present actions can be adjusted in view of the established goal. It is a deliberate conscious research used to formulate the design and orderly sequence of actions through which it is expected to reach objectives. Planning should take place before doing; most individual or group efforts are made by determining before any operative action takes place: What shall be done, where, how and who shall do it.

    Planning involves determining the objectives and goals that an organization aspires to achieve within a given time period, developing alternatives, and selecting the best course of action among the available alternatives to accomplish the set objectives. This plan is a forward-looking function which involves future forecasting. The future forecasting is done on the basis of past analysis related to present.

    By anticipating the future destination of an organization, provides direction and guidelines to managers to perform different organizational activities. In the planning phase, managers determine in advance where to go, how to go, what is to be done and by whom it is to do. In addition, they attempt to forecast the problems that may arise in the future and the ways to deal with them.

    The planning function involves the following activities:

    • Visualizing the future position of the organization.
    • Determining objectives.
    • Selecting the best future course of action.
    • Formulating policies, programs, budgets, schedules.
    • Establishing procedures, and standards of performance.
    • Forecasting future problems, and developing means to cope up with them.
    • Comparing the past activities of the organization with present activities.

    An efficient plan function helps the organization to achieve its organizational objectives effectively. Being a managerial function, the plan should intend to create maximum utility out of minimum possible resources. Do you know about, Processes of Scientific Management?

    Example of the process: To give you an example, Production Plan and control function is very crucial function, which essentially consists of planning production in a manufacturing organization before actual production activities start and exercising control activities in order to ensure that plan production is realized in terms of quality, quantity, delivery schedule, and cost of production. This function includes routing, estimating, loading and scheduling, dispatching, expediting, inspection, evaluating and cost control.

    Note: After Plan, you need organization and also needed Entrepreneur for your company “Why Become an Entrepreneur?”, also, read What Is Entrepreneurship?. You will come to know the definitions of all the seven Processes of Scientific Management; Planning, Organizing, Staffing, Directing, Coordinating, Motivating, Controlling. What is the Concept of Career-Planning?

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  • Management in Directing

    Management in Directing

    Processes of Scientific Management in Directing

    The actual performance of the work starts with the function of directing. Direction includes guidance, supervision, and motivation of employees. Management Directing involves influencing, encouraging, counseling, mentoring, and guiding the employees to work towards the accomplishment of organizational objectives and goals. In other words, directing refers to a process in which the managers instruct, guide, and supervise the performance of employees to achieve predetermined objectives and goals. It is regard as the essence of the management process as the success of all other management functions such as planning, organizing and staffing depend upon the directing function.

    Simple Meaning of Directing-Manager

    • Control the operations of; manage or govern.
    • Aim (something) in a particular direction or at a particular person.
    • Give (someone) an official order or authoritative instruction.

    Communication and coordination are the two important elements of the Directing-Manager function. Communication refers to a verbal or non-verbal interaction between the managers and subordinates. On the other hand, coordination is defined as an act of enabling different individuals to work together for a common goal.

    The directing function involves the following activities

    • Helping and guiding subordinates to achieve predetermined objectives and goals.
    • Ordering and instructing subordinates regarding the work assigned to them.
    • Educating subordinates regarding the methods of performing work efficiently.
    • Supervising the work being perform by subordinates.
    • Motivating subordinates to give their best.

    According to Joseph Massie, “Directing concerns the total manner in which a manager influences the action of his subordinates. It is the final action of a manager in getting others to act after all preparations have complete”.

    The example of the process: Direction is a process of a top-down approach. It is a vertical process in which orders come from the top for the subordinates to follow. Directing is person-centric. That’s why we often see that one boss is very effective because of his proper directions and the other one is not so effective because of his wrong way of handling things.

    Top Directing of company Man; Examples of Mr. J.R.D.Tata, Ratan Tata, Narayan Murthy, Dhirubhai Ambani whose crystal clear directions have created history in Indian industry.

    The Directing Function of Management

    DIRECTING is says to a process in which the managers instruct, guide and oversee the performance of the workers to achieve predetermined goals. The heart of management process. Planning, organizing, staffing have got no importance if direction function does not take place. Principles of Directing.

    Directing initiates action and it is from here actual work starts. Direction is says to consisting of human factors. In simple words, it can describe as providing guidance to workers is doing work. In field of management, direction is says to all those activities which are design to encourage the subordinates to work effectively and efficiently. According to Human, “Directing consists of process or technique by which instruction can issue and operations can carry out as originally plan” Therefore, Directing is the function of guiding, inspiring, overseeing and instructing people towards accomplishment of organizational goals.

    Meaning and Definition of Directing

    Directing is says to a process in which the managers instruct, guide and oversee the performance of the workers to achieve predetermined goals. Directing is says to the heart of management process. Planning, organizing, staffing have got no importance if direction function does not take place. Directing initiates action and it is from here actual work starts. Direction is said to consisting of human factors. Processes of Scientific Management.

    In simple words, it can describe as providing guidance to workers is doing work. In field of management, direction is says to all those activities which are design to encourage the subordinates to work effectively and efficiently. According to Human, Therefore, Directing is the function of guiding, inspiring, overseeing and instructing people towards accomplishment of organizational goals.

    Directing means giving instructions, guiding, counsellings, motivating and leading the staff in an organization in doing work to achieve Organizational goals. Directing is a key managerial function to perform by the manager along with planning, organizing, staffing and controlling. From top executive to supervisor performs the function of directing and it takes place accordingly wherever superior – subordinate relations exist. Directing is a continuous process initiate at top level and flows to the bottom through organizational hierarchy.

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  • Different types Theories of Organization

    Different types Theories of Organization

    Here are Different types Theories of Organization

    First, remembering What is an Organization? it is very helpful for understanding Theories of Organization “An organized group of people with a particular purpose, such as a business or government department. The action of organizing something, the quality of being systematic and efficient. The way in which the elements of a whole are arranged.”

    Organization theory means the study of structure, functioning, and performance of an organization and the behavior of individuals and groups in it. 14 Principles of Management by Henri Fayol.

    The Five type theories of Organization are:
    1. Classical theory
    2. Neo-classical theory
    3. Modern theory
    4. Motivation theory
    5. Decision theory

    Now, Explanation of each Theory following are;

    Classical Theory

    It was found by F.W.Taylor, father of scientific management.

    This theory is base on the following four principles

    Division of labor: The production of a commodity is divide into the maximum number of different divisions. The work of each division is look after by different persons. Each person is specialize in a particular work. In other words, the work is assign to a person according to his specialization and the interest he has in the work. The division of labor results in the maximum production or output with minimum expenses incurred and minimum capital employed.

    Scalar and functional processes: The scalar process deals with the growth of organization vertically. The functional process deals with the growth of organization horizontally. The scalar principles refer to the existence of the relationship between superior and subordinate. In this way, the superior gives instructions or orders to subordinates of various levels of management and gets back the information from the subordinate regarding the operations carried out at different levels or stages. This information is used for the purpose of taking the decision or remedial action to achieve the main objectives of the business.

    The scalar chain means the succession of domination by the superior on the subordinate from the top to the bottom of an organization. The line of authority is base on the principle of unity of command which means that each subordinate does work under one superior only. Reward Strategy with Developing System for Your Organization.

    Structure: The organization structure may define as the prescribe patterns of work-related behavior of workers which result in the accomplishment of organizational objectives. Specialization and coordination are the main issues in the design of an organizational structure.

    The span of control: It means an effective supervision of a maximum number of persons by a supervisor.

    To summarize, classical theory emphasizes the unity of command and principle of coordination. Most of the manager’s time is wasted in coordination and control of the subordinates. According to Lyndall Urwick, “A superior can supervise a maximum of four members at higher levels and between 8-12 members at lower levels to constitute an ideal span of control.”

    Characteristics of classical theory

    • It is base on the division of labor.
    • It’s base on objectives and tasks of the organization.
    • Concerns with the formal organization.
    • It’s base on the coordination of efforts.
    • Division of labor has to balance by unity of command.
    • It fixes a responsibility and accountability for work completion.
    • It is centralize.

    Neo-classical Theory

    It is developed to fill up gaps and deficiencies in the classical theory and is concerns with human relations movement. The study of an organization is base on human behavior such as how people behave and why they do so in a particular situation. The main contribution of this theory highlights the importance of the committee management and better communication. Further, this theory emphasizes that the workers should encourage and motivate to evince active participation in the production process. The feelings and sentiments of the workers should be taken into account and respect before any change is introduce in the organization. The classical theory was production oriented while neo-classical theory was people oriented.

    Contributions of neo-classical theory

    • A person should the basis of an organization.
    • Organization should be view as a total unit.
    • Individual goals and organization goals should integrate.
    • Communication should move from bottom to top and from top to bottom.
    • People should allow to participate in fixing work standards and decision making.
    • The employee should given more power, responsibility, authority and control.
    • Members usually belong to formal and informal groups and interact with others within each group or sub-group.
    • The management should recognize the existence of the informal organization.
    • The members of sub-groups are attach with common objectives.

    Modern Organization Theory

    This theory is compose of the ideas of different approaches to management development. The approach is fully base on empirical research data and has an integrating nature. The approach reflects the formal and informal structure of the organization and due weight age is giving to the status and roles of personnel in an organization.

    1. The modern theory studies the individuals in aggregates and the movement of individuals in and out of the system.
    2. It studies the interaction of individuals with the environment found in the system.
    3. It studies the interaction among individuals in the system.

    Modern theories include the systems approach, the socio-technical approach, and the contingency or situational approach.

    Systems approach: It considers the organization as a system composed of a set of inter-related and thus mutually dependent sub-systems, linking processes and goals.

    Socio-technical approach: It considers the organization as composed of a social system, technical system, and its environment. These interact among themselves and it is necessary to balance them appropriately for the effective functioning of the organization.

    Contingency or situational approach: It recognizes that organizational systems are inter-relate with their environment and that different environments require different organizational relationships for effective working of the organization.

    The following are essentials of modern theory

    1. It views the organizations as a whole.
    2. It’s base on systems analysis.
    3. The findings of this theory are base on empirical approach.
    4. Integrating into nature.
    5. Gives importance to inter-disciplinary approach to organizational analysis.
    6. Concentrates on both quantitative and behavioral sciences.
    7. It’s not a unified body of knowledge.

    Motivation Theory

    It is concerned with the study of work motivation of employees of the organization. The works are perform effectively if proper motivation is giving to the employees. The motivation may be in monetary as well as non-monetary terms, the inner talents of any person can identifies after giving adequate motivation to employees.

    Decision Theory

    This theory was giving by Herbert A. Simon who was award Nobel Prize in the year 1978 for it. He regarded organization as a structure of decision makers. The decisions was taking at all levels of the organization and important policy decisions was taking at higher levels of the organization. Simon suggest that the organizational structure is design through an examination of the points at which decisions must made and the persons from whom information is require if decisions should satisfactory.

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  • What is Master the Art of Scheduling?

    What is Master the Art of Scheduling?

    “Where are you on the schedule?” Develop the ability to predict the amount of time as a sequence of key tasks that a project should take. And yet we all work with software developers who hate the pressure of committing to a schedule because to complete work usually takes “as long as it takes.” But you can’t effectively run a business without the confidence to work toward a schedule.

    When you recognize the value of time management skills, you become the overseer of your life, with your schedule as your command center. Many people think that creating a schedule is as easy as jotting down the time and activity on a piece of paper. However, scheduling is so much more than that.

    A well-planned schedule of everyday tasks is more than just a reminder of what needs to be done. It also allows you to make time for important tasks that are in line with your goals. It makes you become aware of how you spend your time each day. It helps you to recognize areas that need adjustments so that you can achieve balance between your personal life and your profession. So how should you schedule your time each day? What are the tools you need to become a “master scheduler?” Here are the strategies to learn:

    Gather Your Scheduling Tools

    In general, you would need three essential scheduling tools, and these are:

    A daily planner,

    A weekly planner, and

    A monthly planner

    The daily planner helps to keep you on the right track each day. It enables you to concentrate on exactly what tasks need to be done and how much time you have for each.

    The weekly planner serves as your overview of the events planned out for that week as well as the tasks that you need to accomplish. It helps you get to see what is ahead of you, because focusing only on the everyday tasks might cause you to forget about what is in store for tomorrow, or the day after that.

    Now, you might think that you do not need a monthly planner if you have a weekly one. However, it always helps to have all the dates of the month laid out on a single page. This will enable you to see the important dates of that month and plan your week and days around them.

    However, it is possible to keep a monthly planner without the weekly planner. Just make sure that there is enough space for you to jot down your weekly tasks on the monthly planner.

    There are plenty of planners whether digital or printed out there, so choose your layout carefully. Most of the time, you will find that many planners already have daily, weekly, and monthly sections. This is helpful, especially if you want to carry your planner around. Take care not to purchase more than one type of planner, because you would only end up feeling confused as to which one you should write your next set of tasks.

    One suggestion on how to organize your different planners is that you should have a portable daily planner, and a desktop or wall-mounted weekly and/or monthly planner. This is because you will likely need to check your daily planner constantly throughout the day, while you only need to jot things down and review your weekly/monthly planner once a week. A large monthly planner is helpful as well, because you will want to see everything at a single glance.

    Once you have your scheduling tools, the next step is to create a scheduling routine.

    Create a Scheduling Routine

    Do you take time at the end of each day to plan for the following day? If you do not, then now is the best time to build this habit. A master scheduler should set aside a time each day to plan for tomorrow, each week for the week ahead, and each month to review everything and plan for the next month.

    In most cases, it will only take ten to twenty minutes to plan for the following day and thirty minutes to plan for the week and month ahead. However, the time you would invest in planning will save you from many problems in the future.

    After you have set a fixed “scheduling” time, you should then establish a routine on how to schedule your time. Here are the recommended steps:

    1. Time-block non-negotiable appointments

    Certain parts of the day may be out of your control; such as board meetings or dentist appointments. You should secure them all first, otherwise you might end up with overlapping appointments.

    It must be emphasized that you should also time-block the hours when you will be sleeping. Have to establish a fixed sleeping schedule to stay healthy and sharp the following day. Do not rob yourself of sleeping hours by cramming on certain tasks. Instead, focus on planning your day carefully so that you will have time to accomplish them all.

    1. Schedule your Important Tasks

    At this point, you would be able to see the times lots during the day when you do not have anything scheduled yet. If so, then you can refer to your list of priorities to allocate the different tasks into your day, week, or month.

    For example, if your most important task for the day is to write a thousand words for your personal book project, and if you do not have anything scheduled between seven and ten a.m., then you can block this task within this time.

    1. Schedule your Urgent Tasks

    After you have secured the times lots for your important tasks, you should then move on to blocking in the urgent ones. It helps to use a different colored-pen or highlighter to separate the important from the urgent.

    Do not forget to factor in breaks and an allowance in time for emergencies. In other words, you should never time-block one task after another without at least ten minutes of contingency time. This way, you will not be behind schedule in the next task when there was an unexpected extension in the task before it.

    Here is an example:

    •             Important Task —- 7:00 am to 9:00 am
    •             Contingency Time —- 9:00 am to 9:15 am
    •             Urgent Task —- 9:15 am to 11:30 am
    1. Review your schedule and make adjustments if necessary

    Once you have your entire day planned out, you can go back and assess your schedule as a whole. If you notice that you have spread yourself too thin, consider delegating certain tasks to others, rescheduling them, or canceling them altogether. Once you are satisfied with your schedule, the only thing left to do is to take action.

    As with any other skill, it takes constant practice to become better at scheduling and managing your time well. Nevertheless, it takes more than just scheduling and planning to do a great job every day without feeling burned out. That is because you also need to develop an efficient system. Read the post How to Make Establish an Efficient System? to learn more about that.

  • How to Learn of Hone Your Ability to Concentrate?

    How to Learn of Hone Your Ability to Concentrate?

    The ability to concentrate is a skill that becomes stronger over time. Through constant practice, you will be able to concentrate more effectively for an extended period of time. However, if you constantly find it difficult to focus on tasks, or if you find yourself wasting your time on unimportant activities, then you need to address this problem as soon as possible.

    Ability: Human Resource Management; An acquired or natural capacity or talent that enables an individual to perform a particular job or task successfully. See also aptitude. Law; The power to carry out a legal act or satisfy a legal obligation.

    Concentrate: A concentrate is a form of substance which has had the majority of its base component (in the case of a liquid: the solvent) removed. Typically, this will be the removal of water from a solution or suspension, such as the removal of water from fruit juice. One benefit of producing a concentrate is that of a reduction in weight and volume for transportation, as the concentrate can be reconstituted at the time of usage by the addition of the solvent. Completely different to clustered.

    The good news is that there are tested-and-proven tips on how you can concentrate better. Apply the following tips and notice how you will then be able to finish your important tasks on time.

    Eliminate distractions

    Distractions come in all shapes and sizes. It could be the uncomfortable chair you are sitting on, the messy desk you have to work on, or the loud noises from outside. Whatever your case may be, it is important to get rid of them before you begin your task. That way, you can no longer use them as an excuse to procrastinate.

    Here are some suggestions:

    I. Hang up a “do not disturb” sign.

    II. Play instrumental “concentration enhancing” music to drown out the background noise.

    III. Set your phone on silent mode and store it away.

    IV. Block certain websites that keep you from focusing.

    Focus on one task at a time

    Multi-tasking keeps you from being able to provide quality output. It also stresses your mind out, whether you are aware of it or not. This is because you are not really “accomplishing” multiple things at once, but rather you are rapidly switching from one task to another.

    Instead, set aside a time block for a particular task and do absolutely nothing else except that task within that time frame. You could even set a timer so that you will not have to glance at the clock every now and then to check how much time you have left.

    Take short breaks between tasks

    Most people – even the most productive ones out there – can concentrate on an important task for no more than two hours at a time. Likewise, it takes approximately fifteen minutes of rest to replenish this concentration “energy.” Therefore, you can use this as a rule of thumb to schedule breaks.

    For instance, after working non-stop on a task for two hours straight, set a timer to signal you to take a fifteen-minute break. Then, do something relaxing, such as taking a walk or having a snack. After fifteen minutes, you will be ready to take on another two-hour long task, give or take.

    Focus on challenging tasks during your peak hours

    Identify which part of the day you feel most confident and energized, and use this time to work on the tasks that require the most concentration. For most people, mornings are the times when they feel as if they can handle anything. For others, this happens during the evenings when everyone else is exhausted from work.

    Reward yourself after accomplishing a challenging task

    Our minds are programmed to repeat a certain behavior if we are rewarded for it. Therefore, to condition yourself to practice improving your concentration each day, do not forget to reward yourself after a job well done. It could be something as simple as playing a video game for an hour, watching an episode of your favorite television show, or enjoying a delicious, albeit sinful, snack. That way, you can be more driven to finish the task so that you can get your reward.

    Aside from these tips, it always helps to remind yourself to take good care of your body. Always make it a priority to get enough hours of sleep, eat nutritious meals, and hydrate throughout the day. When your body is healthy and full of energy, it is only natural for your mind to be sharp and focused.

    At this point, you must be excited to start working on your tasks. However, you might want to learn how to manage your schedule first, especially if you have multiple tasks to handle each day. Find out how you can acquire this skill in the post What is Master the Art of Scheduling?

  • How to Make Establish an Efficient System?

    How to Make Establish an Efficient System?

    Efficient (of a system or machine) achieving maximum productivity with minimum wasted effort or expense, preventing the wasteful use of a particular resource. Working in a well-organized and competent way. Performing or functioning in the best possible manner with the least waste of time and effort; having and using requisite knowledge, skill, and industry.

    Abraham Lincoln once gave a sound piece of advice regarding productivity. He said, “Give me six hours to chop down a tree and I will spend the first four sharpening the Axe.”

    It is apparent that he means that he can do a much more efficient job with the right tool. On the other hand, chopping away on the tree with a dull Axe might cut it down as well, but less efficiently and probably for a longer period of time. In other words, the best way to make the most of your time is by establishing an efficient system. To be more specific, you should first create the most conducive environment, and choosing the best tools, for the task.

    To help you establish an efficient system, there are two main things to do. The first one is to choose the right tools you need to accomplish the task in the best possible way. The second is to organize the space in which you will be doing the task.

    Choose the Best Tools for the Task

    Can you tell off the bat which tools you need the most to accomplish certain tasks? If you cannot, try remembering the following guidelines:

    1. The tool should be the most user-friendly.

    While this does not apply to all cases, it helps to remember to go back to the basics. Often, the tool that is easiest to use is also the more efficient. It does not require much time to learn how to use it and to manipulate it.

    An example of a simple, user-friendly time management tool is the to Do list. It is simple as jotting down tasks on a piece of paper and crossing them out once you are done.

    1. The tool should help you focus.

    Some people who want to enhance their time management skills often tend to buy a number of “organizational tools,” such as planners, calendars, and so on, but then end up not using most of them at all. Worse, some would attempt to use them all at once and end up confused. Therefore, the best solution is to pick no more than one tool you will truly use for a particular project, goal, or task, and then stick to it.

    1. The tool should be the most efficient and effective.

    If a tool requires too much time to set up before you can use it, then it had better be four times more efficient than the other models. Otherwise, you would only end up accumulating wasted time from using it. The bottom-line is to choose a tool that will strike a balance between efficiency and effectiveness by looking at how well it can help you with the task and how quickly it can be used.

    Aside from these, other factors you can consider are accessibility, cost, visibility, and so on, depending on the specific tools you need. After all, some tools are to be used for personal goals and tasks, while others are for professional use or team projects. Nevertheless, it helps to keep these three core guidelines in mind before you decide to choose a certain tool for your project.

    Organize and Develop an Efficient Work Space

    A space that is clean and organized does not just mean it is neat and tidy. Rather, it expands to keeping only the things you need in sight. Everything else that does not serve any purpose to your goal is merely a distraction. This rule applies not just to your physical surroundings, but your digital space as well.

    You can achieve this by taking these simple steps:

    1. Clear all the items off the area first. This will make it easier for you to separate the items and tools you want to use from the ones that only serve as distraction.

    For instance, if your computer desktop is cluttered with all sorts of icons and folders, then create a folder and label it “Mess.” After that, move everything into it in one full sweep.

    1. Re-build or re-organize the area by choosing the tools that you need. Everything else must be removed or stored away more efficiently.

    If we go back to the same example, when you are left with a clear desktop, you can then choose from the “Mess” folder the ones you need for a particular project or goal. Everything else can be deleted or sorted out until you can safely delete the “Mess” folder.

    1. Develop an efficient system for your project or goal.

    Now that only the tools you need remain in the area, your final step is to use them to create an efficient system. It is important to ensure that the system is simple, easy to use, and effective, because you may be using it so often it becomes a habit.

    Let us say you make a living as a medical transcriptionist. Since your desktop is now uncluttered, you now only have your transcribing tool, a spreadsheet icon of a file that helps you track your progress, and folder of projects on it. Your final step is to systematize how you work so that you can maximize your time and efficiency. It can be simple, such as:

    Step 1: Click the spreadsheet icon to monitor and review project.

    Step 2: Open transcribing tool.

    Step 3: Open project to be transcribed.

    Step 4: Put on headset, adjust volume, and start transcribing.

    Once your tools and system are polished and organized, it is guaranteed that all the tasks you need to accomplish will become easier to do. All you need to do at this point is to take action.

  • How to Set the Right Goals?

    How to Set the Right Goals?

    A goal is a desired result or possible outcome that a person or a system envisions, plans and commits to achieve: a personal or organizational desired end-point in some sort of assumed development. Many people endeavor to reach goals within a finite time by setting deadlines.

    It is roughly similar to purpose or aim, the anticipated result which guides reaction, or an end, which is an object, either a physical object or an abstract object, that has intrinsic value.

    Setting the Goals

    Goal setting may involve establishing specific, measurable, achievable, relevant, and time-bounded (SMART) objectives, but not all researchers agree that these SMART criteria are necessary.

    Research on goal setting by Edwin A. Locke and his colleagues suggests that goal setting can serve as an effective tool for making progress when it ensures that group members have a clear awareness of what each person must do to achieve a shared objective. On a personal level, the process of setting goals allows individuals to specify and then work toward their own objectives (such as financial or career-based goals). Goal-setting comprises a major component of personal development and management.

    Goals can be long-term, intermediate, or short-term. The primary difference is the time required to achieve them.

    Short-term goals

    Short-term goals expect accomplishment in a short period of time, such as trying to get a bill paid in the next few days. The definition of a short-term goal need not relate to any specific length of time. In other words, one may achieve (or fail to achieve) a short-term goal in a day, week, month, year, etc. The time-frame for a short-term goal relates to its context in the overall time line that it is being applied to. For instance, one could measure a short-term goal for a month-long project in days; whereas one might measure a short-term goal for someone’s lifetime in months or in years. Planners usually define short-term goals in relation to long-term goals.

    In any endeavor, the first step is to establish a clear goal. The more detailed and clear it is, the easier it will be for you to make choices and establish steps that you need to take towards accomplishing it.

    However, before getting into the subject of setting goals, let us first talk about the Goal-Setting Theory of Locke and Latham. Learning this will help you visualize the results that you truly want and need.

    Dr. Edwin Locke, the author of the article “Toward a Theory of Task Motivation and Incentives”, published in 1968, explained that people become motivated towards doing their job when they are given clear goals as well as proper feedback. He also pointed that having a specific and challenging goal motivates people to boost their performance.

    Twelve years later, Locke and Dr. Gary Latham published “A Theory of Goal Setting and Task Performance,” their seminal work. It not only highlighted the significance of setting definite and challenging goals, but also provided five key components that will guide you to set them successfully. These are Clarity, Challenge, Commitment, Feedback, and Task Complexity. Here are the steps on how you can use them:

    Establish clear goals.

    It is important to be detailed with what you want to accomplish. By doing so, you can track your progress and determine which areas you need to improve on and which ones are helping you to get closer to your goal.

    Perhaps the most efficient way to establish goals is by applying the SMART criteria. This was first explained by George T. Doran in the November 1981 issue of Management Review. It has since become the primary tool used in setting goals.

    “SMART” stands for Specific, Measurable, Achievable (or Assignable), Relevant, and Time-bound. Here is how you can apply each criterion:

    1. Specific – the goal has to be so clear it leaves no room for doubt. Detail what is important to you, what you expect from it, how you will know when it happens, and so on.
    2. Measurable – this puts emphasis on the need for measurable factors to help determine whether you are improving or not. Without measurable factors, you would find it impossible to stay motivated.
    3. Assignable or Achievable – a goal may be specific and measurable, but it can be unachievable if it is unrealistic. It is important to ensure that you can either achieve the goal-related tasks yourself, or assign some of the tasks to someone who can.
    4. Relevant – it is important to work towards a goal that is in line with your principles and purpose in life. For instance, you can consider whether the goal is worth the time, energy, and resources and if it is of true value to you.
    5. Time-bound – a time frame is an essential part of goal setting, because it helps you commit and increases your focus. A goal that is not time-bound is usually shipped off to “someday” land and never seen again. Therefore, you must set a target date.

    Here is an example of a SMART goal: “I will finish writing the first draft of my twenty-thousand-word romance fiction novel entitled “Oceans Away from Sarah” before December 25, 2016.”

    Set the Right Goals

    Ensure that the goals are challenging

    The more challenging yet realistic a goal is, the more motivated you will be to accomplish it. First, consider whether the goal you want makes you feel excited. Why does the thought of accomplishing it makes you feel good? Visualize the goal and determine the steps you need to take to turn it into a reality.

    Commit yourself to the goal

    Committing to your goal means that you are going to devote your time, energy, and resources to accomplish it. It also means you recognize its importance in your life and that you will not give up. It also helps to remember that plans can change, but the goal should remain the same.

    Track your Progress to Get Feedback

    As you work towards your goal, you must continuously enhance your skills, plans, and tools. That way, you can become even more efficient and effective. The only way to know how and what to improve on is by receiving feedback.

    Feedback is easily given by a team leader and one’s peers in major projects, but if you are on your own, then you need to track your own progress to receive it. Therefore, you must create a way to measure your progress as soon as you start working towards your goal. Through these standards, you can determine how far along you are.

    Calibrate the complexity of the task

    If a certain task towards your goal is too challenging it becomes unrealistic, you can take a step back and make the necessary adjustments. In other words, do not charge head-on if you are unprepared for it, because you will only end up feeling too pressured. This is dangerous, because it can cause you to give up altogether.

    Instead, consider the factors that are causing the task to be too complex. Reflect on whether you need more time, additional skills, or better tools for it. Maybe you need to break it down into smaller, more manageable parts. It is also possible that you need to delegate it to an expert. All these adjustments may even help you achieve your goal more efficiently.

    Once you have established a clear goal, the next step is to generate tasks that are in line with it. By doing so, you would then be able to determine the time you need to accomplish it. How to Set Your Organize Priorities? posts will help you to identify which tasks are important each day, and which ones to set aside.

  • How to Set Your Organize Priorities?

    How to Set Your Organize Priorities?

    There are specific skills and steps that you can learn to effectively manage multiple priorities and to actually assess which activities you need to work on first then next in order to tame your daily and weekly schedule. I’ve tried to organize the best time management advice I can find into one place and make it “research administrator-friendly.”

    The ability to prioritize is highly important in terms of achieving your goal. It helps you to identify and focus only on the essential tasks. It frees you from falling into procrastination or getting distracted by less important tasks. By harnessing this skill, you will be less stressed and a lot more organized and put-together.

    To become proficient in prioritizing, you can start by applying former U.S. President Dwight D. Eisenhower’s Urgent/Important Principle.

    Eisenhower’s Urgent/Important Principle

    In 1954, he mentioned that there are “two kinds of problems: the urgent and the important. The urgent are not important, and the important are never urgent.” In this sense, these two concepts can be defined as follows:

    Important tasks are those whose results lead to the achievement of our personal or professional goals.

    Urgent tasks require your immediate attention. However, they are typically related to the goal of someone else (such as your boss). Nevertheless, we focus on them more because there are negative consequences to not doing them right away.

    At this point, you may want to reflect on three things.

    First, identify which tasks or activities are most important to you. Are they in line with your goal? How far along are you in terms of accomplishing it?

    Second, look back on how you spend your time each day. Do you focus on what is urgent? Were you able to find time for what is important?

    Finally, consider how you can make time for what is important and still be able to do what is urgent. Alternatively, think about whether you can sacrifice what is urgent for what is important.

    One strategy that can help you focus on the important tasks first is to do them at the start of your day. The reason why this is effective is that you would still make time for what is urgent later on in the day. After all, you will always find a way to do what is urgent to avoid the consequence.

    Make sure to write down all your thoughts until you can flesh out a concrete plan out of them.

    The Pareto Principle

    It is easy to prioritize when you are in control of your time and resources. However, things take a more challenging turn when you are faced with many issues that will force you to make quick decisions.

    If ever you find yourself in this situation, then you can take a page out of Italian economist Wilfredo Pareto. According to him, eighty percent of the effects of most events come from twenty percent of the causes. To make his point clear, he explained two examples.

    The first one is that 80 percent of the properties in his homeland are owned by only 20 percent of the population. The second, on which his principle is initially based, is that 20 percent of the pea-pods in his garden held 80 percent of the peas produce.

    To this day, the Pareto Principle is being used by many professionals to gauge almost anything, such as by stating that 80 percent of a corporation’s sales come from only 20 percent of its products.

    Going back to the concept of Prioritization, you can apply the Pareto Principle by applying the following steps:

    1. Identify the main problems.

    Take note of every issue that is holding you back from achieving your goal or task. If you are working as a team, consult each member to get their own insights. You might also need to consult your progress chart.

    1. Determine the main cause of each problem.

    According to the concept of Root Cause Analysis, there are three common root causes behind any problem. These are Physical Causes, Human Causes, and Organizational Causes.

    When something breaks down or fails to operate due to some tangible or observable aspect, then it is due to a Physical Cause. One example is you being unable to finish a three-page report due tomorrow because your laptop computer crashed.

    If a person failed to do something, or did something wrong, then the problem is from a Human Cause. An example would be your co-worker failing to send you an email of the survey results for your report tomorrow.

    In situations where, despite the effectiveness of tools and the efficient skills of the people involved, the process itself caused the problem, then it is considered to be due to an Organizational Cause. One example is the pyramid scheme, in that the products are effective and the salespeople are passionate and trained. Yet, the system itself fails to be sustainable.

    Based on this perspective, it is easy to identify the root cause of some problems. However, if you find it a challenge to do so, then you should ask yourself these questions to help you deduce the issue until you can identify the root cause.

    What happened?

    How did it happen?

    Why did it happen?

    Will it happen again?

    Why or why not?

    1. Rearrange the problems in order of priority.

    After you have identified the root cause for each problem, you should then create another list of the same problems. Only this time, you will be enumerating them based on how important it is for them to be solved. This way, you will instantly know which one to focus on solving first before you move on to the second, third, and so on.

    1. Come up with the solutions.

    Now that you have analyzed and organized all the problems, the final step is to solve each of them. Start with the most important problem to be solved, and then brainstorm on the best steps to take to address it.

    Now that you know how to apply Eisenhower’s Urgent/Important Principle and Pareto’s Principle, you can choose from a variety of time management tools in organizing all this information. A simple chart on a spreadsheet should do the trick, and it can look something like this:

    Eisenhower’s Urgent/Important Principle

    Today’s List of Tasks

    Important Tasks Urgent Tasks

    Task 1 – 8:00 am to 9:30 am Task 1 – 11:00 am to 12:00 am

    Task 2 – 10:00 am to 10:30 am Task 2 – 1:00 pm to 3:00 pm

    Pareto’s Principle

    Ranking Problem Root Cause Solution:

    1 Problem A Root Cause A Solution A

    2 Problem B Root Cause B Solution B

    3 Problem C Root Cause C Solution C

    By using these tools, you will surely be able to get more tasks done throughout your day. Of course, this does not mean that these tools alone will enable you to focus on getting the job done. There will be times when we fail to focus on a task because of unexpected occurrences and distractions. However, you can overcome these challenges by improving your ability to concentrate. The next chapter can provide you with tips and strategies on how to do just that.

  • What is Means of Time Management?

     

    Time management is the process of planning and exercising conscious control over the amount of time spent on specific activities, especially to increase effectiveness, efficiency or productivity. It is a meta-activity with the goal to maximize the overall benefit of a set of other activities within the boundary condition of a limited amount of time, as time itself cannot be managed because it is fixed. So, what is the question: What is Means of Time Management?

    Explains, What is Means of Time Management? Meaning and Definition.

    Time management may be aided by a range of skills, tools, and techniques used to manage time when accomplishing specific tasks, projects, and goals complying with a due date. Initially, time management referred to just business or work activities, but eventually, the term broadened to include personal activities as well. A time management system is a designed combination of processes, tools, techniques, and methods. Time management is usually a necessity in any project development as it determines the project completion time and scope.

    A highly competitive and fast-paced world, time management is now easily recognized as one of the most essential survival skills. It is the key not just to achieve your biggest goals, but also ensure that you will get the quality of life that you desire. It is in fact so important that everyone from the most competitive sales representative to the multi-tasking single parent needs it.

    Strictly speaking, time management as a concept is defined as the conscious process of planning and controlling the amount of time spent on particular tasks. The better your time management skills are, the more productive, efficient, and effective you tend to be. In the past, it was implemented only in school- and work-related tasks, but now it can be used for any purpose.

    You can think of time management as an umbrella, and under it are a variety of tools, strategies, and methods. You can choose from and apply any of these until you are able to find the one that best suits your needs, preference, and personality.

    Nevertheless, whichever time management tool or strategy you choose, you should be able to comply with each of its five major dimensions:

    1. The priorities should be clearly established.
    2. The tasks carried out should be geared towards these priorities and explicitly explained.
    3. The time, energy, and resources spent on unimportant or non-urgent tasks should be reduced, if not eliminated.
    4. The system (including your surroundings and the tools you use) should be made conducive in order to enhance productivity, effectiveness, and efficiency.
    5. Motivational factors (such as rewards or sheer self-discipline) should be present to guarantee the fulfillment of the time-bound tasks.

    When you take a closer look at these five dimensions, you would notice that none of them would exist if one does not plan ahead of time.

    For instance, the first dimension is about highlighting your goals or priorities, while the second is about enumerating specific tasks related to these priorities. Describing a goal and coming up with a To-Do list related to that goal is the perfect example.

    The third dimension is about reducing or eliminating tasks that are not as important. This process is essential because time is fixed since everyone gets the same twenty-four hours daily. For instance, let us say you did create a list of task in line with your priorities. However, if there are too many tasks for the day, then you will need to pare down the list to the most important ones.

    The fourth dimension stressed the importance of ensuring that you have a well-organized system before you even begin with your tasks. One example of this is to clear out, clean, and organize your desk space if you are to use it to complete a certain task.

    Motivational factors or incentives are the emphases of the final dimension and for a good reason. It is important to return to the main reason as to why you even want to manage your time well for these priorities. It could be that you are motivated to complete the task because there is a monetary reward at the end. On the other hand, you might be doing the task because you want to improve your skills. Regardless of how you become motivated, it is therefore important to be motivated per see.

    Naturally, none of us is a robot who can simply move like clockwork. It is one thing to be highly organized, focused, and efficient at what you do. It is altogether another thing to be completely rigid without room for spontaneity. Therefore, it is best to maintain balance by managing your time well, but not letting the idea of it overwhelm your life.

    Now that you are familiar with the general concept of time management, you might be eager to explore some of its most effective tools and strategies. You can start with the next chapter, which will help you set goals efficiently.