Munich Personal RePEc Archive

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.

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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.

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