We all know that one result of poor time management is that we don't accomplish what we NEED TO. Note the words in capitals. A big part of time management is identifying what exactly is IMPORTANT to get done (high priorities) and focusing on those items. Lower-priority items are pushed to bottom of the list, or dropped.
Another negative of poor time management is that we don't make good decisions when we are under time pressure.
As a general rule, people who are rushed, and thereby do not have the time to consider all their options, DEFAULT to short-cuts - assumptions that may or may not hold water.
Here is a perfect example:
Researchers surveyed groups of people on their interest in buying a camera.
One of the cameras (the superior product) had only a few features but they were the really important ones. The other camera had lots of features but they were unimportant to the overall quality of the camera.
One group had 30 seconds to make a decision. 17% chose the camera with the fewer features (the superior product). Another group had 60 seconds. 38% chose the superior product. The third group had even more time and 67% chose the better camera.
This study shows that when people are short on time they make assumptions: "Well, one camera has more features so it must be the better camera."
When pressed (or stressed) people often make bad choices. One objective of good time management is to prevent yourself from being in situations where you have to make important decisions with limited time for in-depth analysis.
Jim Randel is the founder and author of The Skinny On book series, condensed explanations of important life skills. Randel's books are currently best sellers in China - three of his e-books in the top 100 best-selling e-books in China. The Skinny on Time Management is #10 on the e-book best seller list in China, and #2 on Amazon.com's list of best-selling e-books in Chinese.