The Economics of Punctuality

In simple economics it means additional burden on the exchequer and the taxpayer

DR NAZIR AHMAD GILKAR

   The behavioural experts opine that punctuality is the first sign of loyalty towards an organisation. Punctuality refers to starting as well as completing work at right time. The Englishmen put on wrist-watch to exercise punctuality, conversely we put it on simply as an ornament of show. Perhaps our culture in general has written off the habit of being on time.
  The work-culture is an important determinant not just for the quality of social life but for economic growth and advancement as well. There is a saying; “time and tide wait for none.” Not maintaining proper timing results in wastage of an invaluable resource, time being money. Also, being consistently late, one strains relationship with fellow workers and colleagues.
The empirical analysis attempts to reveal:
• Punctuality in attending classes, completion of syllabi, conduct of examinations, and declaration of results is very significant. The role of faculty and staff in this context is pivotal. Punctuality of all stakeholders is of paramount importance for smooth functioning and progress on the campus to produce intellectual capital.
• That development projects remain incomplete for decades together because of lackadaisical approach of the executing agencies. This finally entails cost escalation. A project culminates into 4-5 times higher than original cost estimates owing to non-observance of punctuality in its completion. This in simple economics means additional burden on the exchequer and the taxpayer.
• That marriage parties are crude examples where there is no respect for punctuality. “I hate waiting, but do not hate you waiting”. People cannot progress as a society when they are not punctual. Decades back a trend was initiated by closing the door at the scheduled time for serving the grand lunch. Even noblest of the noble had to return home without having any food. This shows courage and commitment and due regard for time. There is a saying that befits here; “a stitch in time saves nine”.
• Due to late arrival of corporate bus fleet an organisation suffered loss. The cost of the production loss in terms of output units was deducted from the bills submitted by the transport company. This deduction made transport authorities observfe punctuality strictly to avoid any deduction from the bills preferred for payment.
• That the official meetings called do not start at the schedule fixed for the purpose. Punctuality in attending these meetings and completing the assignment within the requisite time frame is quite essential as regards smart governance. 
  The value added employment of people has a special characteristic of being punctual. It needs realization and self-motivation.  By giving up “tomorrow culture” we prove productive. Work ethics and work etiquettes are essential requisites in every culture. Punctuality reflects respect and consideration for fellow-feeling and self-discipline and organisational commitment. Punctuality is not simply a time skill but a relationship quality and a manifestation of personal character as well. The societies move forward through investment in human capital underpinned by a variety of values including  punctuality .

The author is Principal SP College and can be mailed at gilkarna@rediffmail.com

Lastupdate on : Fri, 21 Dec 2012 21:30:00 Makkah time
Lastupdate on : Fri, 21 Dec 2012 18:30:00 GMT
Lastupdate on : Sat, 22 Dec 2012 00:00:00 IST




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