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Stephen Covey teaches a powerful method for time management in his book "The 7 Habits of Highly Effective People." He focuses on the four quadrants weekly plan, encouraging a shift from daily to weekly planning. By asking two questions - is the task important and is it urgent - individuals can clearly define their priorities. Covey's concept of putting first things first relates to prioritizing tasks based on importance and urgency. Tasks like exams, business meetings, emergency situations, and critical deadlines fall into the important and urgent quadrant, requiring immediate attention. Spending too much time in this quadrant leads to constant stress. On the other hand, tasks like non-urgent phone calls, emails, and favors for others are considered urgent but not important and should be handled accordingly to maintain balance and effectiveness.