Time Management in Business
Time management is a critical factor for effective business operations. Proper time management enables a business to fulfill the expectation of its clientele thus promoting profit growth and sustainable development. Effective time management involves planning and scheduling of activities in a manner that allows smooth flow of business operation. For instance, the acquisition of supplies are scheduled and effected before stock runs out to avoid shortage of commodities desired by the customers. In fact, strategic planning involves organizational activities scheduling based on specific timelines. Mayers (2011) explains that effective time management in business reduces workers, stress and anxiety, allows organizations to handle multiple projects and enhances business profitability.
One of the leading causes of low employees’ performance is stress and anxiety which is attributable to time mismanagement. Workers in a business with no proper time plan are often under stress to accomplish certain goals within short notices, which creates anxiety. As a result, they produce poor quality work, which negatively affects business performance. In addition, haphazard performance of responsibilities creates workplace conflicts among employees, and between the company and its clients. Failure to deliver orders on time may lead to their cancellation and losing of customers. Such failures are attributable to either failure to plan or lack of timely supervision to ensure business operations are undertaken on schedule.
A business that effectively plans it time is capable of handling multiple projects which implies more profit. For instance, consultancy firms that manage time effectively are capable of serving a large number of clients with a limited human resource pool that is highly motivated. Tasks are assigned to specific individuals, whose performance is also timely reviewed, thus enhancing delivery on deadlines. The resultant efficiency in work delivery reduces work place stress and anxiety, which further enhances business output.
Mayers, J. (2011). Time Management and its Importance in the Business World. Retrieved from http://www.sooperarticles.com/self-improvement-articles/time-management-articles/time-management-its-importance-business-world-207129.html