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Your Scarcest

Resource
BY MACHAEL MANKINS, CHRIS BRAHM AND GREGORY CAIMI
INDEPENDENT STUDY III
HARVARD BUSINESS REVIEW MAY 2014
Organizational Resources
Examples of organizational resources
Men
Money
Materials
Technology
Equipment
Time
IT
Infrastructure
Information (what is going on) Most of the organizational resources have a specific
Knowledge (how things are done) way of managing like money by finance and
accounts time, materials by various teams, etc.
Most companies have elaborate procedures
for managing capital and generally need a
compelling case for any new investment. On
the contrary, an organizations time goes
largely unmanaged.
TIME IS THE MOST VALUABLE ASSET IN AN ORGANIZATION AND YET IT CONSISTENTLY GOES MISMANAGED BY EVEN THE BEST OF COMPANIES.

Former CEO of Intel Andy Grove once wrote,



Just as you would not permit a fellow employee to steal a piece of office
equipment, you shouldnt let anyone walk away with the time of his fellow
managers.
How time is done present day?
Companies are awash in e-communications: many executives now
receive some 200 e-mails per day or more than 30,000 a year.
Meeting time has skyrocketed
Real collaboration time has become limited:
Dysfunctional meeting behaviour is on the rise
There are any formal controls
There are few consequence too.

A handful of companies have learned how to attack this problem


directly. We find eight practices pay big dividends.
Practices for managing
organizational time

Make agenda Create a zero Require businesses


Simplify the
clear and based time cases for all new
organization
selective budget projects

Provide feedback
Clearly delegate Establish
Standardize to manage
authority for time organization-wide
decision process organizational
investments time discipline
load.
Conclusion
Time is an organizational scarcest resource.

No amount of money can buy a a 24 hour day or reclaim an hour lost in an unproductive meeting.

Some forward-thinking companies have taken a different approach entirely and expect their leaders to
treat time as a scarce resource and to invest it prudently.

They bring as much discipline to their time budgets as to their capital budgets.

These organizations have not only lowered their overhead expenses; they have liberated countless
hours of previously unproductive time for executives and employees, fuelling innovation and
accelerating profitable growth.

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