MOST COMPANIES HAVE elaborate procedures for managing capital. They require a compelling business case for any new investment. They set hurdle rates. They delegate authority carefully, prescribing spending limits for each level. An organization’s time, in contrast, goes largely unmanaged. Although phone calls, e-mails, instant messages, meetings, and teleconferences eat up hours in every executive’s day, companies have few rules to govern those interactions. In fact, most companies have no clear understanding of how their leaders and employees are spending their collective time. Not surprisingly, that time is often squandered—on long e-mail chains, needless conference calls, and countless unproductive meetings. This takes a heavy toll. Time devoted to internal meetings detracts from time spent with customers. Organizations become bloated, bureaucratic, and slow, and their financial performance suffers. Employees spend an ever-increasing number of hours away from their families and friends, with little to show for it.
Posted on: Thu, 24 Apr 2014 01:24:57 +0000
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