What is it?!
Time management starts with the commitment to change. Time management is easy as long as you commit to action. The key to successful time management is planning and then protecting the planned time, which often involves re-conditioning your environment, and particularly the re-conditioning the expectations of others. In terms of time management, you are at your most efficient the day before you start your annual leave. Your time management and efficiency on this day is probably awesome. If you really want to, you can be that well-organized every day.
Time management enables each of us to improve and be more productive and fulfilled individually, so logically the effects across whole organisations of good or poor time management are enormous.
The collective implications of wasted time, and happily also the benefits of increasing personal productivity, are immense.