Time Management

Planning and prioritizing essential tasks is critical to the success of every business especially the small and medium-sized enterprises (SMEs)—yet many business leaders do not manage their time correctly to enhance the success of their firm. In fact, some leaders even think it is wast of time to plan and prioritize daily activities. What these leaders do not realize is that small businesses have fewer employees compare to larger organizations and often perform multitasks. In an attempt to execute various functions, the leaders and the employees alike often lose focus on what is really important if activities are not planned and prioritized.

In the author's qualitative study of semi-structured interviews with 32 SMEs' leaders, over 90% of the leaders asserted that effective time management is the key to their business success. However, many of them confessed they learned the essence of time management in a hard way after they failed to complete an important task that led to losing a valuable customer, business, and the like.

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