Construction of Activity Duration and Time Management Potential - Term Paper Example

?Importance of time management in organisations Introduction For the past 20 years, time management has increasingly been becoming an important criterion for organisations. This is probably because in the age of globalisation, companies are faced with international competitors and a huge customer base spread around the world that need simultaneous attention and service (Orlikowsky and Yates, 2002). This creates an acute shortage of time in life and has resulted in a never-slowing life, where people are inclined towards finishing their jobs faster; spending less time in personal activities such as, sleeping, having breakfast and commuting to work; and clubbing activities together to squeeze out some extra time such as, talking to family while eating during lunch breaks (Garhammer, 2002). Major, Klein and Ehrhart (2002); Jackson and Martin (1996); Teuchmann, Totterdell and Parker (1999) have studied in detail the stress borne by managers and employees of an organisation to deliver on time in the midst of an acute time-crisis. Adding on to these, Palmer and Schoorman (1999) have identified that the shortage of time in organisations result in employees performing multiple activities simultaneously. A number of studies on this subject have stated that time is an important factor to consider while formulating organisational behaviour models as it greatly affects an organisation’s business, operations and human resource (Wright, 2002; Ancona, Goodman, Lawrence and Tushman, 2001; George and Jones, 2000). As a corollary to their research, Macan (1994) studied the means employees of a company resort to for time management and also recommended several ways in which such initiatives can be bettered and integrated into a holistic effort. The shortage of time As per data collected from 557 managers of various companies as part of a recent survey by McKinsey & Company, only 124 respondents stated that they are content with the way their time is assigned to different tasks; against a contrasting 433 respondents who stated that they were discontent. These 500 respondents were categorised into 4 groups: 1. Managers who spend most of their time at their desk and cannot find time to provide support and motivation to their subordinates on a personal basis. 2. Managers who mostly spend most of their time away from their desk and cannot find time to attend important meetings or sit down and formulate corporate strategies. 3. Managers who spent most of their time with their subordinates and cannot find time to interact with the stakeholders of the company. 4. Managers who are actively involved in responding to sudden challenges and crises within the organisation, and cannot find time to take part in long-term strategy formulations. The study indicates that managers are increasingly feeling the heat of performing too many tasks in too little time. Most of them feel that their work hours are not sufficient to cater to all their responsibilities. Some of the reasons for lack of time may be identified as the constant need to communicate with multiple stakeholders on every little work progress; the added burdens of globalisation such as, different time zones and more complex organisational hierarchies; and the over-aggressiveness of companies in the midst of a global financial crisis. The consequences of such shortage of time also flow down to the end employees who are led by the managers. This often leads to unorganised, non-synchronous activities within an organisation. Although companies consider lack of time as a personal problem of employees and not of their concern, its impacts are far-reaching and are directly associated with a company’s working principles and performance. The study clearly shows that time is not considered during formulating corporate strategies and assigning roles and responsibilities. Most companies perceive time as an infinite resource that constantly flows in, but the fact is that just like money, the time-related capabilities of a company are also limited. Time is essential to plan, track and manage the expenditure of time per unit of work for ensuring that all objectives are fulfilled with minimum lag and wastage. Concepts of time management Time management at an organisational level refers to the systematic method of identifying the objectives of a company, formulating strategies to achieve these objectives, organising the strategies as per their priorities and implementing them sequentially to achieve smooth operations (Lakein, 1973). However, in a narrower sense, time management can be defined as the collective actions that are taken to manage the time spent on a company’s different activities (Macan, 1996; Jex and Elacqua, 1999; Macan, Shahani, Dipboye and Philips, 1990; Mudrack, 1997). It ensures that a company has the capability to accomplish all its desired activities within a definite time frame (Slaven and Totterdell, 1993; Orpen, 1994; A.E. Woolfolk and R.L. Woolfolk, 1986). On a personal sense, time management has been defined as the extent to which employees of a company feel that the time they spent has been systematic purposeful (Vodanovich and Seib, 1997; Strongman and Burt, 2000; Bond and Feather, 1988; Sabelis, 2001). It involves careful planning and prioritising of activities and assigning specific durations of time for each activity (Hall and Hursch, 1982; Kaufman-Scarborough and Lindquist, 1999; Burt and Kemp, 1994; Francis-Smythe and Robertson, 1999), so that every activity has sufficient time for completion (King, Winett and Lovett, 1986), resulting in higher efficiency, higher productivity and lower work-related stresses (Lay and Schouwenburg, 1993; Eilam and Aharon, 2003; Britton and Tesser, 1991). Bond and Feather (1988) also referred to time management as time structure. To summarise and unite the different opinions that various studies have on the concept of time management, it can be said that time management is a set of three traits of an individual that are directed at utilising his/her time in an efficient manner for achieving a set of related or unrelated tasks. It is to be noted here that time management is a second degree activity that goes hand-in-hand with the different tasks to be performed and cannot be isolated, studied or followed. Judicious time utilisation is chiefly dependent upon the activities that an individual is contemplating of working upon. The three factors of time management are described as: Assessment of time – It is related to an individual’s ability to recognise different time-scales such as, distant past, recent past, present, near-future and distant future (Kaufman, Lane and Lindquist, 1991). It also involves the individual’s ability to track his/her usage of time and thus, accept new responsibilities only as long as they can be performed within time (Wratcher and Jones, 1988). Formulation – This trait includes analysing objectives, formulating strategies, assessing, grouping and prioritising activities and all other initiatives that are taken to utilise time judiciously (Britton and Tesser, 1991). Supervision - It refers to tracking and monitoring the time spent on different tasks and developing a feedback mechanism that helps in coordinating the overall time management effort (Fox and Dwyer, 1996; Zijlstra, Roe, Leonora and Krediet, 1999). Problems due to absence of time management The problems that an organisation may experience due to poor management of time include, but are not limited to, the following (Bevins and De Smet, 2013): 1. Too many tasks in too little time As discussed earlier, a company’s perception of time being an infinite ever-flowing resource has negative consequences on its performance. This is most notably felt whenever a company introduces a new business strategy, undergoes process changes or launches an entirely new project. None of these initiatives discount the existing tasks that managers and employees do within work hours. Instead, the new initiatives squarely place a set of new roles and responsibilities, in addition to the existing routine works. This creates a situation where there is too little time and too many jobs to perform and causes neglect of certain priorities, forced adoption of others and disruption of work flow. Such scenarios lead to undesirable results such as, failure of strategies and projects, losing out on potential strategic advantages and lack of clarity among employees on what needs to be done. Repetitions of such failures also take toll on the employees who ultimately develop a negative attitude towards process changes, even if their outcome is positive. 2. Lack of systematic approach to work Most companies tend to offload roles and responsibilities on their employees and do not provide a systematic means of approach to fulfil them. This leads to employees and managers poorly assessing the importance of their responsibilities and prioritising tasks in a fashion that the company would not have recommended. They end up neglecting tasks that demand immediate attention and spending time working their way through tasks that could wait. This has a number of consequences, mainly talented employees lacking orientation and stuck with inappropriate tasks and managers juggling between interacting with stakeholders, motivating people and formulating strategies. 3. Improper hierarchy of authority Whenever new initiatives and projects are formulated, it is very common to implement them under the scope of existing authority hierarchy and reporting structure, instead of focussing on what the particular initiative or project demands. This leads to managers receiving additional responsibilities simply based on their hierarchy and not based on their capabilities and the additional time they can devote to work. For example, a finance manager overseeing a large acquisition project might constantly need to divert attention towards a small stationeries procurement activity of the company simply because he/she is in charge of all financial activities. Sometimes, companies also apply additional tasks to their existing managers to keep reporting structure at a minimum, without assessing the time the managers need to spend on their existing work. All these lead to poor reporting structures and managers incapable of efficiently performing their tasks. Methods of time management and their impact Several researches have been dedicated to developing different means of time management, especially in a working environment. Lakein (1973) and Mackenzie (1972) recommended maintaining schedules where tasks are listed based on their priorities. A company may also prepare time budgets, similar to cost budgets, where a specific amount of time is assigned to each and every activity of the company. Additionally, Drucker (1967) noted that planned approach to work does not yield positive results until the work load is favourably distributed, based on employees’ capacities. Finally, the most effective tool of time management is a training program theorised by McCay (1959). In this program, employees are trained to understand and differentiate activities, based on the time they would take to be completed, create a priority list, as per which activities need to be completed and spend time judiciously on each activity. The program also educates on how to take care of activities that are not part of their daily routine. The impact of time management, as noted by Claessens, van Eerde, Rutte and Roe (2007), is positive on the performance of a company. Francis-Smythe and Robertson (1999) noted that motivated employees of a company are more willing to plan and manage their time than those who are not. Jex and Elacqua (1999) concluded in their study that time management creates the ability to address tasks more effectively and results in higher job satisfaction and physical as well as mental well-being. They also noted that time management reduces work-related stress and anxiety. Their findings were also echoed by Peeters and Rutte (2005). Conclusion Most of the companies fail to realise that time is a limited resource, just like money. Failure to understand the importance of time leads to employees having to perform too many tasks in too little time, lack of systematic approach to work and unscientific reporting structures and hierarchies. Thus, it is essential to plan, track and manage the expenditure of time per unit of work. These efforts are collectively known as time management. Methods of time management are maintaining priority lists, schedules and time budgets; distributing work load logically and implementing time management training programs. With these, employees can finish tasks on time, achieve higher job satisfaction and reduce work-related stress and anxiety; all of which translate to higher performance and productivity for the company. Reference List Ancona, D.G., Goodman, P.S., Lawrence, B.S. and Tushman, M.L., 2001. Time: a new research lens. Academy of Management Review, 26, pp. 645-663. Bond, M. and Feather, N., 1988. Some correlates of structure and purpose in the use of time. Journal of Personality and Social Psychology, 55, pp. 321-329. Britton, B.K. and Tesser, A., 1991. Effects of time-management practices on college grades. Journal of Educational Psychology, 83, pp. 405-410. Burt, C.D.B. and Kemp, S., 1994. Construction of activity duration and time management potential. Applied Cognitive Psychology, 8, pp. 155-168. Claessens, B.J.C., van Eerde, W., Rutte, C.G. and Roe, R.A., 2007. A review of the time management literature. Emerald Group Publishing Limited, 36(2), pp. 255-276. Drucker, P.F., 1967. The Effective Executive. New York: Harper & Row. Eilam, B. and Aharon, I., 2003. Students planning in the process of self-regulated learning. Contemporary Educational Psychology, 28, pp. 304-334. Fox, M.L. and Dwyer, D.J., 1996. Stressful job demands and worker health: an investigation of the effects of self-monitoring. Journal of Applied Social Psychology, 25, pp. 1973-1995. Francis-Smythe, J.A. and Robertson, I.T., 1999. On the relationship between time management and time estimation. British Journal of Psychology, 90, pp. 333-347. Garhammer, M., 2002. Pace of life and enjoyment of life. Journal of Happiness Studies, 3, pp. 217-256. George, J.M. and Jones, G.R., 2000. The role of time in theory and theory building. Journal of Management, 26(4), pp. 657-684. Hall, B.L. and Hursch, D.E., 1982. An evaluation of the effects of a time management training program on work efficacy. Journal of Organizational Behaviour Management, 3, pp. 73-98. Jackson, P.R. and Martin, R., 1996. Impact of just-in-time on job content, employee attitudes and well-being: a longitudinal study. Ergonomics, 39(1), pp. 1-16. Jex, J.M. and Elacqua, T.C., 1999. Time management as a moderator of relations between stressors and employee strain. Work & Stress, 13, pp. 182-91. Kaufman, C.J., Lane, P.M. and Lindquist, J.D., 1991. Time congruity in the organization: a proposed quality of life framework. Journal of Business and Psychology, 6, pp. 79-106. Kaufman-Scarborough, C. and Lindquist, J.D., 1999. Time management and polychronicity: comparisons, contrasts, and insights for the workplace. Journal of Managerial Psychology, 14, pp. 288-312. King, A.C., Winett, R.A. and Lovett, S.B., 1986. Enhancing coping behaviours in at-risk populations: the effects of time-management instruction and social support in women from dual-earner families. Behaviour Therapy, 17, pp. 57-66. Lakein, A., 1973. How to Get Control of your Time and Life. New York: Nal Penguin Inc. Lay, C.H. and Schouwenburg, H.C., 1993. Trait procrastination, time management, and academic behavior. Journal of Social Behavior and Personality, 8, pp. 647-662. Macan, T.H., 1994. Time management: test of a process model. Journal of Applied Psychology, 79, pp. 381-391. Macan, T.H., 1996. Time-management training: effects on time behaviours, attitudes, and job performance. The Journal of Psychology, 130, pp. 229-236. Macan, T.H., Shahani, C., Dipboye, R.L. and Philips, A.P., 1990. College students time management: correlations with academic performance and stress. Journal of Educational Psychology, 82, pp. 760-768. Mackenzie, R.A., 1972. The Time Trap: Managing your Way Out. New York: Amacom. Major, V.S., Klein, K.J. and Ehrhart, M.G., 2002. Work time, work interference with family, and psychological distress. Journal of Applied Psychology, 87, pp. 427-436. McCay, J., 1959. The Management of Time. New Jersey: Prentice Hall. Mudrack, P., 1997. The structure of perceptions of time. Educational and Psychological Measurement, 57, pp. 222-240. Orlikowsky, W.J. and Yates, J., 2002. Its about time: temporal structuring in organizations. Organization Science, 13, pp. 684-700. Orpen, C., 1994. The effect of time-management training on employee attitudes and behaviour: a field experiment. The Journal of Psychology, 128, pp. 393-396. Palmer, D.K. and Schoorman, F., 1999. Unpackaging the multiple aspects of time in polychronicity. Journal of Managerial Psychology, 14(3-4), pp. 323-344. Peeters, M.A.G. and Rutte, C.G., 2005. Time management behaviour as a moderator for the job-demand-control interaction. Journal of Occupational Health Psychology, 10, pp. 64-75. Sabelis, I., 2001. Time management: paradoxes and patterns. Time & Society, 10, pp. 387-400. Slaven, G. and Totterdell, P., 1993. Time management training: does it transfer to the workplace? Journal of Managerial Psychology, 8, pp. 20-28. Strongman, K.T. and Burt, C.D.B., 2000. Taking breaks from work: an exploratory inquiry. Journal of Psychology, 134, pp. 229-242. Teuchmann, K., Totterdell, P. and Parker, S.K., 1999. Rushed, unhappy, and drained: an experience sampling study of relations between time pressure, perceived control, mood, and emotional exhaustion in a group of accountants. Journal of Occupational Health Psychology, 4(1), pp. 37-54. Vodanovich, S.J. and Seib, H.M., 1997. Relationship between time structure and procrastination. Psychological Reports, 80, pp. 211-215. Woolfolk, A.E. and Woolfolk, R.L., 1986. Time management: an experimental investigation. Journal of School Psychology, 24, pp. 267-275. Wratcher, M.A. and Jones, R.O., 1988. A time management workshop for adult learners. Journal of College Student Personnel, 27, pp. 566-567. Wright, T.A., 2002. Dialogue: the importance of time in organizational research. Academy of Management Journal, 45, pp. 343-345. Zijlstra, F.R.H., Roe, R.A., Leonora, A.B. and Krediet, I., 1999. Temporal factors in mental work: effects of interrupted activities. Journal of Occupational and Organizational Psychology, Vol. 72, pp. 163-85. THE PROGRESS REPORT To: From: ______________________________ Id. No.: ______________________________ Date: SUBJECT: Progress Report: Importance of time management in organisations (from December 4th 2013 to January 4th 2014) Introduction The purpose of the report is to understand the time constraints faced by organisations today and the importance of time management in organisations. The time taken to complete the report was 1 month, from December 4th 2013 to January 4th 2014. This progress report is a discussion on the progress made during this 1 month time period. Work completed from December 4th 2013 to December 11th 2013 During this time, I have written the “Introduction” section of the report. This section focuses on the growing importance of time management for organisations. It also explains the means people resort to amidst an acute shortage of time such as, reducing sleeping and breakfast times and combining multiple tasks together such as, attending personal phone calls while having meal during work break. The section ends pointing out that the collective efforts taken by employees to manage time can be integrated into a holistic time management scheme. Work completed from December 12th 2013 to December 18th 2013 During this time, I have written the section, “The shortage of time” explaining the various time-related crises that managers and employees routinely face. Also, how companies perceive time as a never-ending resource and fail to understand the importance of time planning and time management. I have also written the section, “Concepts of time management” that explains the phenomenon of time management in details, citing the opinions of various scholars. Work completed from December 19th 2013 to December 25th 2013 During this time, I have written the “Problems due to absence of time management” section of the report. In this section, I have discussed the various problems faced by managers and employees of an organisation in details. I have assessed the impact of company’s wrong perception of time on the employees and identified that negligence of time is one of the main factors behind the failure of new policies, projects and strategies of a company. I have also drawn attention to the lack of a systematic work flow that occurs due to employees prioritising tasks wrongly and focussing on unimportant tasks. Lastly, I have pointed out the fact that companies tend to offload responsibilities of new initiatives on existing managers instead of assessing the time they can spare after performing their existing duties. Work completed from December 26th 2013 to January 4th 2014 During this time, I have written “Methods of time management and their impact”, which provides various tools of time management such as, time budgets, schedules, priority lists, scientific work distribution and time management training program. I have also explained the positive impact of time management on employees and ultimately, the company. Finally, I have written the “Conclusion”, which analyses the issue of time-crisis in organisations and highlights the importance of time management. Problems Encountered There were no problems encountered during the preparation of the report. Conclusion I have been able to systematically proceed with different sections and complete the report on time. Signature Read More