Time as a Strategic Resource in Management of Organizations

P. M., Suresh Kumar and Aithal, Sreeramana (2020): Time as a Strategic Resource in Management of Organizations. Published in: ICTACT Journal on Management Studies , Vol. 6, No. 1 (20 February 2020): pp. 1138-1143.

Abstract

Human history is derived in terms of time. Man had a sense of time which enabled him to calculate the life of all objects and the very process of ageing and obsolescence from time immemorial. Time is an often ignored but invaluable resource in any organization. All activities, be it procurement, production, or product movement involve time which on its own is not measurable unless it is matched against time. Time gives a true measure of how an organization performs efficiently and effectively. Production and productivity are tuned to time, just as purchase and sales or cash flow and manpower. Time has certain unique properties. Time is intangible, non-recurring, unstoppable and unpreserved. In work situations it has a lot of implications. Therefore, managers to be successful need to have the skills in time management. In the emerging scenario of Business Management, time is becoming another area for management operations to address. Given all peculiarities associated with time, it could be reckoned as a strategic force. This paper addresses the uniqueness of time as a management resource, and examine its role as a strategic force. Attempt is made to depict the life cycle of an organization into distinguishable growth models in relation to time. A time management matrix reflecting the convergence of professional demands and individual time is worked out and a hypothetical productivity time flowchart as a basic reference point of productive efficiency is conceptualized. The role of time as indispensable to benchmarking is also discussed.

• Item Type: MPRA Paper
• Language: English
• Keywords: Time as a strategic force, Time management, Organizational life cycle
• Subjects: L - Industrial Organization > L1 - Market Structure, Firm Strategy, and Market Performance; L - Industrial Organization > L1 - Market Structure, Firm Strategy, and Market Performance > L10 - General; M - Business Administration and Business Economics ; Marketing ; Accounting ; Personnel Economics > M0 - General; M - Business Administration and Business Economics ; Marketing ; Accounting ; Personnel Economics > M1 - Business Administration; M - Business Administration and Business Economics ; Marketing ; Accounting ; Personnel Economics > M1 - Business Administration > M11 - Production Management; M - Business Administration and Business Economics ; Marketing ; Accounting ; Personnel Economics > M1 - Business Administration > M12 - Personnel Management ; Executives; Executive Compensation

References

[1] Kronfeld-Schor N. & Dayan T. (2003). Partitioning of time as an ecological resource. Annual review of ecology, evolution, and systematics, 34(1), 153-181.

[2] Brotherson M. J., & Goldstein B. L. (1992). Time as a resource and constraint for parents of young children with disabilities: Implications for early intervention services. Topics in Early Childhood Special Education, 12(4), 508-527.

[3] Döring H. (1995). Time as a scarce resource: Government control of the agenda. Parliaments and majority rule in Western Europe, 223-46.

[4] Miritello G., Moro E., Lara R., Martínez-López R., Belchamber J., Roberts S. G., & Dunbar R. I. (2013). Time as a limited resource: Communication strategy in mobile phone networks. Social Networks, 35(1), 89-95.

[5] Leclerc F., Schmitt B. H., & Dube L. (1995). Waiting time and decision making: Is time like money?. Journal of Consumer Research, 22(1), 110-119.

[6] Macan T. H. (1994). Time management: Test of a process model. Journal of applied psychology, 79(3), 381.

[7] Lay C. H., & Schouwenburg H. C. (1993). Trait Procrastination, Time Management. Journal of social Behavior and personality, 8(4), 647-662.

[8] Britton B. K., & Tesser, A. (1991). Effects of time-management practices on college grades. Journal of educational psychology, 83(3), 405.

[9] Zampetakis L. A., Bouranta N., & Moustakis V. S. (2010). On the relationship between individual creativity and time management. Thinking skills and creativity, 5(1), 23-32.

[10] Bluedorn A. C., & Denhardt R. B. (1988). Time and organizations. Journal of management, 14(2), 299-320.

[11] Crossan M., Cunha, M. P. E., Vera D., & Cunha J. (2005). Time and organizational improvisation. Academy of Management Review, 30(1), 129-145.

[12] Orpen C. (1994). The effect of time-management training on employee attitudes and behavior: A field experiment. The Journal of psychology, 128(4), 393-396.

[13] Margol J., & Kleiner, B. H. (1989). New developments in effective time management. Management Decision, 27(5).

[14] Whipp R., Adam, B., & Sabelis, I. (Eds.). (2002). Making time: Time and management in modern organizations. OUP Oxford.

[15] Orlikowski W. J., & Yates, J. (2002). It's about time: Temporal structuring in organizations. Organization science, 13(6), 684-700.

[16] Lee, H., & Whitley, E. A. (2002). Time and information technology: temporal impacts on individuals, organizations, and society. The Information Society, 18(4), 235-240.

[17] Nandhakumar J., & Jones, M. (2001). Accounting for time: managing time in project-based teamworking. Accounting, Organizations and Society, 26(3), 193-214.

[18] Butler R. (1995). Time in organizations: Its Experience, Explanations and Effects. Organization studies, 16(6), 925-950.

[19] Shipp A. J., & Fried Y. E. (2014). Time and work, Vol. 1: How time impacts individuals. Psychology Press.

[20] Mudrack P. E. (1999). Time structure and purpose, Type A behavior, and the Protestant work ethic. Journal of Organizational Behavior: The International Journal of Industrial, Occupational and Organizational Psychology and Behavior, 20(2), 145-158.

[21] Forbus P., Newbold J. J., & Mehta S. S. (2011). A study of non-traditional and traditional students in terms of their time management behaviors, stress factors, and coping strategies. Academy of Educational Leadership Journal, 15, 109.

[22] Stalk Jr, G., & Hout T. M. (1990). Competing against time. Research-Technology Management, 33(2), 19-24.

[23] Mike Clayton, Time Management, Pearson Education Limited, UK, 2011.

[24] Jack D. Ferner (1995). Successful Time Management, John Wiley & sons Inc, New York.

[25] Aithal P. S. & Suresh Kumar P. M. (2016). Comparative Analysis of Theory X, Theory Y, Theory Z, and Theory A for Managing People and Performance. International Journal of Scientific Research and Modern Education (IJSRME), 1(1), 803-812. DOI: http://doi.org/10.5281/zenodo.154600.

[26] Aithal P. S. & Suresh Kumar P. M. (2016). Theory A for Optimizing Human Productivity. IRA-International Journal of Management & Social Sciences, 4(3), 526-535. DOI : http://dx.doi.org/10.21013/jmss.v4.n3.p2.

[27] Aithal, P. S. and Suresh Kumar P. M. (2016). Organizational Behaviour in 21st Century – Theory A for Managing People for Performance. IOSR Journal of Business and Management (IOSR-JBM), 18(7), 126-134. DOI: http://doi.org/10.9790/487X-180704126134.

[28] Aithal P. S. & Suresh Kumar P. M. (2016). CCE Approach through ABCD Analysis of ‘Theory A’ on Organizational Performance. International Journal of Current Research and Modern Education (IJCRME) 1(2),169-185. DOI: http://dx.doi.org/10.5281/Zenodo.164704.

[29] Aithal P. S. and Shubhrajyotsna Aithal (2018). Study of various General-Purpose Technologies and their contribution towards developing Sustainable Society. International Journal of Management, Technology, and Social Sciences (IJMTS), 3(2), 16-33. DOI : http://doi.org/10.5281/Zenodo.1409476.

[30] Aithal P. S., Shubhrajyotsna Aithal, (2015). A review on Anticipated Breakthrough Technologies of 21st Century. International Journal of Research & Development in Technology and Management Sciences, 21(6), 112 – 133. DOI : http://doi.org/10.5281/zenodo.61617.

[31] Aithal P. S. & Madhushree L. M. (2019). Information Communication & Computation Technology (ICCT) as a Strategic Tool for Industry Sectors. International Journal of Applied Engineering and Management Letters (IJAEML), 3(2), 65-80. DOI: http://doi.org/10.5281/zenodo.3549423.

[32] Aithal P. S. & Shubhrajyotsna Aithal, (2015). Ideal Technology Concept & its Realization Opportunity using Nanotechnology, International Journal of Application or Innovation in Engineering & Management (IJAIEM), 4(2), 153 – 164. DOI: http://doi.org/10.5281/zenodo.61591.

[33] Aithal P. S. (2016). Nanotechnology Innovations & Business Opportunities: A Review. International Journal of Management, IT and Engineering (IJMIE), 6(1), 182-204. DOI : http://doi.org/10.5281/zenodo.161153.