Time as a Resource

To economists, time is a constraint. To scientists, time is relative. To business strategists, time is a resource.

As a resource, time is a competitive advantage. Service companies such as those in document delivery, food delivery, financial services delivery, cafes, and repair services that use time as a resource improve their levels of customer satisfaction and increase market share.

As a resource, time enhances profitability. Cycle time is faster. Cost per unit of time is lower than other products or services and against competition. Capacity increases. Per capita productivity increases. Even per capita compensation normally increases. Operational competence greatly improves.

As a resource, time empowers management to become more strategic. Idle time and the cost of doing nothing (see activity –based costing/management) become strategic (not just operational) concerns. Leading indicators such as customer satisfaction, employee development and satisfaction and process excellence that make best use of time become important success measures.

As a resource, time creates a new breed of workers: workers capable of managing projects and tasks efficiently and effectively; workers with top-level productivity; workers that have a global outlook; workers that are highly motivated and empowered; and workers that are highly marketable and ‘employeable’.

As a resource, time builds a work environment where trust defines work relationship, professionalism is at its highest ebb, and peak performance is everyone’s daily goal.

To everything there is a season, and a time to every purpose under the heaven. Ecclesiastes 3:1