Going for an MBA or PGDM program does not only include attending lectures, doing homework, and taking tests. It is also a path that prepares students for the challenging corporate world. In such a path, two important skills are productivity and time management.
As far as management studies are concerned, there may be several obligations on a daily basis. They may include attending lectures, giving presentations, working in groups, working on cases, undergoing internships, building contacts, getting placements, and personal obligations too.
Importance of Time Management for MBA/PGDM
It is common for management education to involve handling several tasks at once. The student might be having a presentation in the morning, group activity in the afternoon, and assignment deadline in the evening.
Without proper planning, this becomes an exhausting process for any student.
Good time management allows students to -
- Make priorities
- Complete assignments with ease without any stress
- Harmonize studies with other activities outside the classroom
- Leave time for internship and learning skills
- Package themselves well for placements
But most importantly, time management enables students to decide wisely where to allocate their time.
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Productivity Is Not Just About Being Busy
Being busy does not equate to productivity.
A student may spend many hours studying and achieve very little due to lack of concentration, lack of planning, and multitasking. Productivity involves engaging in tasks which add value towards your objectives.
Some productive tasks that an MBA/PGDM student can undertake include-
- Understanding a business case rather than cramming it
- Mastering Excel, Power Point, Communication Skills or Analysis
- Discussions in the classroom
- Gaining industry knowledge
- Preparation for interviews and group discussions
- Networking with professionals and alumnus
The aim here is not just doing things but doing the right thing.
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Five Time Management Techniques for Management Students
1. Begin with Prioritizing
- All tasks are not equally important.
- Tasks can be classified by the students into three types-
- High Priority Tasks - Upcoming assignments, exams, presentations, interviews
- Moderate Priority Tasks - Building skills, networking, staying aware of business news
- Low Priority Tasks - Tasks which may be deferred without impacting critical tasks
- Such an easy technique enables students to concentrate on immediate priorities.
2. Plan Your Day: Transforming a Challenging Schedule into a Productive One
One of the easiest ways to increase productivity is to plan a day prior to starting it. As an MBA/PGDM student, your day could be filled with a variety of activities including lectures, assignments, presentations, group discussion, projects, placement preparations and many other things.
Without planning, students tend to spend their day dealing with issues that happen to come next. However, if you make a simple plan, then you can decide which things require your time and attention beforehand.
Start With 10-Minutes Daily Plan
You don't have to develop a complex productivity system. Just spend 10 minutes daily either at the beginning or at the end of the day answering three simple questions -
What must be completed by me today?
What things will I make progress in today?
What can be postponed till tomorrow?
For instance, a typical day for an MBA student can include such tasks as -
- Attending three lectures
- Completing a marketing assignment
- Preparing for a group presentation
- Reading the business news
- Practicing interview questions
- Answering to messages related to the project
These tasks can be organized in a certain order based on priority.
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3. Do Not Multitask
In management, students tend to think that they can perform several activities at once. Actually, the constant switching from one activity to another might distract the mind.
Rather than learning while checking social networking sites or answering emails, one may work on a single task.
Focus → Finish → Check → Proceed to the next task.
4. Important versus Urgent Method
Another way of organizing tasks is to use two important questions as follows -
- Is this task important?
- Is this task urgent?
An example will be preparing for an interview next month which is an important task, although not urgent at the moment. The last-minute preparation of important tasks can make them urgent.
Good managers always plan their tasks ahead of time to avoid any emergencies.
Example - “Start Early” as an Advantage
If a professor tells students about a presentation assignment due in two weeks.
Student A begins working on it two days before the deadline.
Student B dedicates 30 minutes per several days investigating the issue and preparing the presentation.
By the time the deadline is approaching, Student B has completed most of the job and has one day to enhance the presentation
Conclusion: Small efforts help to decrease stress caused by big deadlines.
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5. Make Time for Skill Building
The MBA/PGDM classroom gives you theoretical knowledge, but you need to develop practical and professional skills as well.
Even if you make just 30-60 minutes daily to -
- Excel and Data Analysis
- Business Communication
- Presentation Skills
- Artificial Intelligence Tools
- Finance Knowledge
- Digital Marketing
- Leadership & Negotiation
- Business News Reading
It will help you develop some important skills.
Productivity and Corporate World
The significance of such skills is certainly not limited to college years only.
In the corporate world, one faces meetings, emails, projects, deadlines, clients, targets, and unforeseen difficulties all the time. This is why companies prefer candidates who know how to arrange their tasks, assign priorities, and accomplish them on time.
Students of MBA/PGDM programs who master these qualities while in college can start their careers with greater confidence in their professional duties.
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Technology Needs Accompanying Discipline
- There is no shortage of technology that can be used by students for organizing, reminding, task managing, taking notes, and collaborating.
- But technology in itself cannot generate productivity.
- Even if there is an app for your productivity which reminds you about an assignment, you have to do it yourself.
80/20 Philosophy
Another tool for enhancing productivity is the application of the 80/20 principle or 80/20 philosophy.
This principle means that few activities can make a big difference for achieving desired outcomes.
For instance, instead of allocating an equal amount of time on every activity or studying each subject for the same period, students can focus on those which are most relevant to their academic and future careers.
It all comes down to working smart, not hard.
Conclusion
An MBA or PGDM degree goes beyond gaining an educational qualification. Rather, it involves developing the right set of skills and mindset for surviving in a competitive world of business.
Time management ensures that your schedule is well planned. Productivity will help you achieve something out of your planned schedule.
Students who have the skills to plan their day, focus on what matters, avoid distractions, and constantly improve themselves can make their education as management students more productive and meaningful.
Most importantly, one resource that is available equally to all MBA/PGDM students is time
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