Traditional management techniques are process
oriented. Much after Adam Smith wrote of the virtues of Division of Labor ("The Wealth of Nations", 1776), Alfred P.
Sloan applied the same concepts to management. The processes of management were divided into tasks: by managing the tasks,
the process was managed. Since then, processes have been fine-tuned to the point of diminishing returns.
is a measure of how well effort is converted into results. In mechanical systems, efficiency is measured in terms energy
expended and work done. In business processes, efficiency is is measured in terms of reduced wastage: Efficiency experts eliminated
redundant steps from processes, Reengineering focuses on questioning the need for steps in any process to rebuild the processes
from ground up.
Efficient people are those who do not waste Time. Therefore,
another measure of efficiency is how well time is used or how little time is wasted. Time Management has traditionally been
an individualistic skill. With the help of Time-Oriented Management Techniques, it is possible to create efficient teams
and organizations. Time Management is not longer for the individual.