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Facta Universitatis Series Economics and Organization

The modern business environment is characterized by complex and dynamic changes that are reflected through the uncertainty and risk in business; therefore adaptation to a number and variety of changes, increased competition and continuous improvement of performance, represent the basic assumptions of survival and development of the modern enterprise. Concentration and centralization of capital, increased competition, rapidly changing phenomena and events, shortening life cycle of product and technology - have influenced the increasing role and importance of future research and economic forecasts that are now used for the entire socio-economic system. Time management and research and prediction of future events and processes in order to master them, is a prerequisite for the successful strategic management and implementation of action for the successful performance of companies in the future. Companies need to react to rapid changes in their environment in time - timely response management is able to carry out actions that will reduce uncertainty and threat, while reinforcing the impact of potential opportunities and chances for successful performance of companies in the future. When researching future one should always take into consideration the time factor as the dominant influence. Modern top managers are aware of the importance of time and while they are managing business processes, they pay more and more attention to the study of time. .

Time management as the assumption of modern business