INTRODUCTION:

In most of the developing countries like India, Small Scale Industries (SSI) constitutes an important and crucial segment of the industrial sector. They play an important role in employment creation, resource utilisation and income generation and helping to promote changes in a gradual and phased manner. They have been given an important place in the framework of Indian planning since beginning both for economic and ideological reasons.

The new Policy Initiatives in 1999-2000 defined small-scale industry as a unit engage in manufacturing, repairing, processing and preservation of goods having investment in plant and machinery at an original cost not exceeding Rs. 100 lakhs. In case of tiny units, the cost limitation is up to Rs. 5 lakhs. Again, the Government of India in its budget for 2007-08 has raised the investment limit in plant and machinery of small-scale industries to 1.5 corers. For small-scale industries, the Planning Commission of India uses terms ‘Village- a small-scale industry'.

These include modern small-scale industry and the traditional cottage and household industry.

Time Management

Time management can be defined as a period, either short or long, which involves how people use their time judiciously to produce result. Time management starts with the commitment to change. According to Festus (2011), Time management is the act of directing time towards the achievement of the best possible results. The meaningful planning, adequate controlling, effective spending, careful usage and efficient allocation of time to actualize a desired objective are nothing but effective time management. Time is an essential resource every manager needs to achieve the goals and objectives of an organization. It is so delicate that it cannot be saved but can only be spent and once misused it can never be regained. Every manager is looking for ways to improve time management.

Time management helps to prioritize the work based on the importance. This can be carried out through the formulation of the time management matrix. This will help to distinguish between the important and unimportant work. Time management can also be considered as the process by which an individual more effectively accomplishes tasks and goals (Satila, 2013). According to Jane (2012), there is a direct relationship between proper time management strategies and performance of the organization.

REVIEW OF LITERATURE:

Hasan et al. (2013) states the components of time management have a positive relationship with mental health of the employee in which regularity, organizing, mechanic of time management has the most effective relationship and control on time has the least relationship. The components of time management are goals and priorities, regularity, organizing and control on time. The components of mental health are physical health, disorder in social function, anxiety and depression. The variables are sex, education, age, marriage and service years. This shows that there is a meaningful difference between opinions about mental health with the sex, age and education. This research also shows that there is no meaningful difference between opinions about mental health with marriage, service years and experience.

Christopher et al. (2010) states that time management environment scale that consists of five factors that is used to facilitate and support time management practices. The factors of TIME scale are supervision, co-worker interaction, job descriptive processes, support for time management processes, time values. Negative correlation of the scale shows the employee’s turnover intentions and stress. The purpose of this paper is to propose an integrative model of time management, and in particular develop a scale to measure organizational variables which would facilitate and support time management practices. The TIME scale may also be useful for trainers as a measure of the time management training transfer climate. The research also examined whether the time management environment is related to turnover intentions and stress.

Satija et al. (2013) states time management is considered as a crucial key to success in all aspects. When such skills are taught, implemented at a workplace, greater benefits in the areas of productivity, harmony and financial success get noticed. Through this study, the researchers aim to gain deep understanding and insights into time- management and self- management, fascinating interplay between them and the broader Indian perspective on self-management.

Lucy et al. (2012) examines the relationship between time management strategies and job performance in organizations with a particular focus on parastatals. The general objective was to find out the effects of time management strategies on the performance of selected parastatals in Kenya. The researchers conclude that time management and work performance are directly related and there is need. There is also a direct relationship between work performance and how one handles available time.

Obasan et al.(2011) shows that there a positive relationship between adequate time management and organisational performance because time management is essential in all human activities and serve as a good tool for the attainment of any organizational objective irrespective of the volume. Hence it is recommended that time is set at the beginning of a particular period and performance appraisals are conducted in consonance with the goals set at inception.

OBJECTIVES OF THE STUDY:

The objectives of the study are as follows

(i) To study about the time management in small scale industries located at Puducherry.

(ii) To study about the companies procedures and policies related to time management.

(iii) To identify the problems caused through improper management of time.

(iv) To suggest the ways to improve the time management.

Research Methodology:

Research methodology is a plan of action for a research project and explains in detail how data are collected, analyzed and presented so that they will provide meaningful information. The type of research used in this study is Exploratory Research. The source of data is Secondary Data. It may use a variety of methods such as trial studies, interviews, group discussions, experiments, or other tactics for the purpose of gaining information. This type of study is mainly case study oriented. Case study involves a careful and complete observation of a social unit, an institution, even the entire community. The type of analysis used to analyze this case is SWOT analysis.

CASE FORMULATION AND ANALYSIS:

The case on Time Management at small scale industries in Puducherry is formulated on direct observation at 30 small scale industries located at various regions of Puducherry. According to the Department of Science, Technology and Environment of Puducherry Government, there are 7308 small scale industries located at Puducherry. This case is formulated based on the policies and procedures followed at various Small Scale Industries regarding the management of time. The type of analysis used to solve this case is SWOT Analysis.

SWOT ANALYSIS

The SWOT Analysis for the time management in the Small Scale Industries is as follows:

Strength

The strengths of the time management in the Small Scale Industries are given as follows:

• Time management helps to increase the profitability of the Small Scale Industries.

• Time management helps to increase the productivity of the Small Scale Industries.

• It also helps to enhance the performance level of the employees in the Small Scale Industries.

• It helps to achieve the goals and objectives of the companies in the correct time.

• Time management also helps to plan the work of the employees based on the available working time.

• It helps to reduce the stress of the employees through efficient management of time.

• Time management plays important role in reducing the frustration of the employees in the Small Scale Industries.

Weakness

The weaknesses of the time management in the Small Scale Industries are as follows:

• Goals and objectives of the companies cannot be achieved in correct time if time is not managed effectively.

• Improper management of time increases the fraudulence activities of the employees in the Small Scale Industries.

• It also leads to decrease in productivity and profitability of the Small Scale Industries.

• Biometric system is not used to register attendance of the employees.

• Training not given to the employees to manage working time more efficiently in Small Scale Industries.

• Increased job tension due to strict time management leads to incompletion of the work.

• Not prioritizing the work based on importance of the work by the employees.

• Poor management leads to improper planning of activity for the day.

Opportunities:

The opportunities of the time management in the Small Scale Industries are as follows:

• To use TIME Scale (Time Management Environment Scale) for the efficient managing of time in the Small Scale Industries.

• To use time management matrix to distinguish between important and unimportant work in the Small Scale Industries.

• To educate and train the employees regarding the importance of the time management.

• To identify proper training methodology to motivate and enhance the behavior of the employees.

• To identify the problems caused through improper management of time and to suggest the ways to improve the time management in the Small Scale Industries.

• To provide incentives for the employees who are working more efficiently in the Small Scale Industries.

• To install biometric system that reduces waiting time of the employees to enroll their presence.

Threats

The threats of the time management in the Small Scale Industries are as follows:

• Forceful implementation of the time management leads to increase in the stress level of the employees in the Small Scale Industries.

• It may also leads to increase in frustration of the employees.

• Stress and frustration of the employees may also have impact on the mental health such as anxiety and depression.

• It may also increases the work tension of the employees due high work load.

• Small Scale Industries has to invest more money to provide training for the employees regarding the proper management of the time.

• Forceful implementation of the time management may also leads to increased rate of employee turnover.

• Small Scale Industries have to spend more money for assembling multiple biometric systems.

FINDINGS FROM THE STUDY:

The performance of the employees in the Small Scale Industries can be also enhanced through the proper management of time. It considers that time management involves investing time in the efficient manner so the productivity and the profitability can be enhanced in the companies. But proper policies and procedures were not implemented to manage the time properly.

The drawbacks of the companies are that it is not using biometric system to register the attendance. The next drawback is that, the companies are not providing training to the employees to prioritize the work based on important. The employees were not given counseling to handle the stress and frustration.

SUGGESTIONS AND RECOMMENDATIONS:

The following are the suggestions and recommendations based on the findings:

• Small Scale Industries can install biometric systems, so that the wastage of time can be minimized.

• The companies can educate and train the employees regarding the importance of the time management.

• Measures can be taken by the companies to provide counseling to the employees to reduce stress and frustration.

• It can also use time management matrix to distinguish between important and unimportant work.

• Small Scale Industries can provide more incentives for the employees which will motivate the employees to work more effectively.

CONCLUSION:

The researcher made the research in selected small scale industries located at Puducherry. The conclusion of the study is that, Small Scale Industries is giving less importance to the time management. The companies have to implement some corrective measures to manage the time more effectively. This will help in further increase in productivity and profitability of the Small Scale Industries. Hence, this study shows that time management at small scale industries is not adequate and necessary steps must to taken to manage time efficiently.

DIRECTION FOR FURTHER RESEARCH:

This research work was carried out using the secondary data collected from the management of the companies. This research can be extended further by using descriptive research in which primary data can be used. The primary data can be collected directly from the employees of the companies. This could the topic for the further research on time management.

References:

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Received on 06.05.2014 Modified on 30.05.2014

Asian J. Management 5(3): July-September, 2014 page 325-328