Time Management in Business
Introduction.
Time management is essential in any business as it involves accomplishing various tasks related to business promptly and having them accomplished within a given time frame. It also ensures that tasks are handled in the order of priority and as they are scheduled. This not only helps the business ensure nothing is left unhandled but also ensures that the goals that a business has are accomplished faster. This results in the owner of the business identifying business opportunities, resulting in business growth and sustainability. Alexander Djerassi, an expert in foreign policy and entrepreneur, explains the importance of good time management skills to the business.
Importance of time management skills to the business.
Enhance focus
Djerassi insists on the importance of a business being future-oriented. This means that the business has well-set objectives and goals that must be achieved within a given time. With time management skills, the business can analyze the trends, gaps, risks, and benefits in the market. These may help the business be in a position to manage costs that would, however, be incurred and maximize the benefits associated with the investments. Subsequently, a futuristic business does not deviate from the core purpose and always ensures that short-term and long-term goals are given priority, thus enhancing the focus.
Developing new ideas.
According to him, every entrepreneur should be creative and innovative. When time management is embraced in a particular business, there is time to research new ideas, including new methods related to production, marketing, and product value addition. This means that branding is enhanced, making the product unique and ensuring it meets the preferences and tasks of the customers. Therefore time management in the business may be a strategy to not only for identity in the timely provision of goods and services but also help in branding the name of a given business.
Good resource utilization.
He also insists on the importance of having a resourceful business. This includes using technology in various business operations. With the right resources, including human capital, there is efficiency in various operations related to a given business. As a result, there is no underutilization resource wastage as everything is accomplished promptly hence avoiding costs that would have been experienced.
Identifying opportunities.
According to Alexander Djerassi, an entrepreneur should identify new opportunities in the general business market. Time management skills make it easy to ensure that various tasks are handled within a given time and are all focused on specific business goals. This means that there is no delay in productivity and acquiring resources and utilization. Hence there is an opportunity to grow since time is well utilized, resulting in better utilization of resources and also venturing to new ideas.
Increased productivity.
Time management brings efficiency, specialization, and labor division to the business. As a result, there are well-laid targets to be accomplished within a given timeframe. In addition, workers are allowed to exploit their skills in specific lines of specialization, ensuring that quality results are accomplished and no resource wastage from errors that result from incompetence, thus increasing efficiency in all business operations. Therefore, good time management skills ensure that the business can achieve its target on time and has resources well utilized.