Time - The fourth dimension

No its not about Stephen Hawkins or any other science fiction book. It’s about management. It is generally seen that for any purchase decision in business the three important aspects people look into is cost, quality and reliability. With cost getting the highest attention. The major aspect people generally forget to consider is TIME. You must have seen people wasting lot of effort and time to gather information about things which donot deserve the time spent. The best example in this case is government organizations where rules insist on tender and atleast three quotations. The amount of time they waste to confer to this silly rule (which have become necessary due to rampant corruption) that they become uncompetitive in comparison to private players. One single reason of Reliance faring better in all public corporation dominated sector is their focus on time. And this is sustainable competitive advantage as considering the Indian mindset and the rampant corruption they can’t do away with this rule.