Time Management Strategies in Business: A Case Study of Gucci

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Study Skills
(Assignment 1)

TABLE OF CONTENTS
LO1 and LO2...................................................................................................................................1
1. Evaluate the suggestions made in the article on time management.........................................1
2. Which do you agree with and which do you disagree with? Justify your position.................2
3. Are there any other suggestions you would like to make?......................................................3
References........................................................................................................................................4

Introduction
Time management is crucial for business organizations while attaining defined goals and
objectives. Therefore the report will consider the example of Gucci that has been given the target
of competing the order by the customers within the limited time period. In this context, Time
management strategies will be evaluated and further suggestions will be made so that
productivity of employees can be improved.
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LO1 and LO2
1. Evaluate the suggestions made in the article on time management.
Time management plays an important role in contributing towards personal as well as
professional success. It is considered as crucial resource that helps an individual or an
organization to manage the assigned work within the time constraint. Appropriate management
of time will help to resolve the issues of poor finances, bad relationships, stress and many more.
Time Management skills also play an important role in enhancing the overall productivity of the
employees (Remez Sasson, 2019). It will support the employees to achieve more within shorter
time period as well as with less effort. In addition to this, time management will minimise time
wastage and energy and improves creativity and develops critical thinking skills.
Time management helps to manage the workload in more effective manner and also support
minimising the stress while conducting critical or lengthy tasks. Work organized as per the
availability of time result into less number of errors along with the rework. Completion of work
on time helps an individual to gain number of opportunities at both personal and professional
level and puts positive influence on overall reputation. Therefore it is important to develop and
formulate strategies for managing the time in an effective manner (Noe et.al.2017). Time
management includes effective planning, setting of goals and objectives, setting deadlines,
delegation of responsibilities, prioritisation of activities as per their importance and spending
right time on right activity. These strategies can be evaluated as follows:
Effective Planning is one of the important techniques that focus on planning the day in advance
in structured manner. It includes To Do List as well as planning for specific task. Action
planning helps to focus on various ideas and to make decision on what necessary steps are to be
taken for attaining specified goals and objectives. Therefore there is greater need for individual
to make plan so that availability of time can be utilised in the best manner. Planning allows the
individual to get the clear direction in which to work and also enhances the sense of motivation
to complete the assigned task. The strategy can be evaluated by observing the final outcomes as
well as by identifying the task that require larger amount of time period.
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Defining of goals and objectives also plays an important role in managing the time in most
effective manner. Setting of goals will help an individual to get the direction and are also able to
prioritize their workload according to the defined goals (Grissom et.al.2015). In addition to this,
setting of goals will support meeting deadlines and also reduces or eliminates the wastage of
time. Individuals can also manage the distractions with the help of goals which further contribute
towards attainment of task within specified time period. Setting of deadline support the
individual to plan the task so that each of the activity within the task can be accomplished as per
the set deadline and overall deadline of the task can be met. Deadline will help the individual to
organize the task as per the priority so that desired goals and objectives can be met.
Delegation of responsibilities to other will support saving lot of time and allows the individual
to accomplish the task in more faster and effective manner. This will help in distributing the
work so that task can be completed by using the skills of others. For an example, delegation of
task or responsibility within Gucci will help to improve the team morale and put positive
influence on their productivity and efficiency. Prioritisation of task will help the individual to
identify the task on the basis of urgency. This type of strategy will allow the individual to spend
appropriate time in right activities. Time management using prioritisation can be done in
effective manner by collecting all the work, identifying urgency of the task, comparing estimated
efforts and likewise.
2. Which do you agree with and which do you disagree with? Justify your position.
Being at the position of manager I have successfully managed the time using techniques such as
effective planning, setting of goals and objectives, as well as setting of deadlines. Being in the
manufacturing industry, I was assigned with the task of completing the set of order with higher
quality and within the set deadline by the client. Appropriate planning has helped me to define
goals for my team members and various goals has been defined for attaining activities that has
been divided into smaller parts. Each of the tasks has been set with specific deadline so that
wastage of time as well as energy can be reduced (Uzma et.al.2016). In addition to this
prioritisation of task also helped me to accomplish the assigned as per the deadline set by
customers.
However delegation of task and other responsibilities created much lot issues and also influence
the overall management of the time. For an example, allocation of task for developing strategies
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was assigned to some of the other member of the team so that order can be completed within the
time. However this result into delay and all the work of my team members and overall progress
of the task delayed. In addition to this, delegation of task requires confidence of subordinates and
many a times they suffer from fear of making mistakes. Along with delegation of
responsibilities, allocating time for each activity is also very difficult while managing the time
for entire task. Therefore it is important for me to identify the new strategies for overcoming the
issues of these time management strategies.
3. Are there any other suggestions you would like to make?
To overcome the barriers of delegation of authorities, it is highly recommended to develop the
confidence of subordinates so that delegated duties can be fulfilled in an effective manner.
Mistakes of subordinates must be improved by providing them with directions so that further
mistakes can be eliminated. Delegation can be done in an effective manner by establishing the
system of communication. In addition to this, responsibilities must be assigned after identifying
the skills and abilities of employees so that their interest towards the assigned work can be
enhanced and higher quality within the time constraint can be attained.
Other suggestions for managing the time are to avoid doing multi tasking. In addition to this,
focus without any distraction will also help the individual to accomplish the task on time. Focus
will help to attain the goals as well as set deadlines (Time Management Strategies, 2018). Equal
distribution of workload along with training of employees will help the manager as well as
organization to complete the order as per the specified time.
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Conclusion
From the above report the importance of time management has been identified. Strategies such
as prioritisation of work, to do list, etc contributes towards completion of task with quality as
well as in effective manner. With the implementation of appropriate suggestions organization
can successfully overcome the issues related to time management so that overall performance of
employees can be enhanced.
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References
Books and Journals
 Grissom, J.A., Loeb, S. and Mitani, H., 2015. Principal time management skills:
Explaining patterns in principals’ time use, job stress, and perceived
effectiveness. Journal of Educational Administration, 53(6), pp.773-793.
 Noe, R.A., Hollenbeck, J.R., Gerhart, B. and Wright, P.M., 2017. Human resource
management: Gaining a competitive advantage. New York, NY: McGraw-Hill
Education.
 Uzma, M., Saubia, R. and Kaneez, F., 2016. Analysis of employees' time management
behavior skills and strategies (TMBSS) in Pakistan. Strategic Management, 21(4), pp.12-
21.
Online references
 Remez Sasson, 2019 [Online] [Assessed through] <
https://www.successconsciousness.com/blog/time-management/importance-of-time-
management/>, [Assessed on 26th February, 2019]
 Time Management Strategies, 2018 [Online] [Assessed through] <
https://www.proofhub.com/articles/time-management-strategies>, [Assessed on 26th
February, 2019]
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