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The seven Habits of Highly Effective People by Stephen Covey introduce the four quadrants weekly plan for managing time. By determining if tasks are important or urgent, individuals can prioritize effectively. Habit number three, put first things first, emphasizes focusing on tasks that are both important and urgent. Examples include exams, business meetings, emergencies, and deadlines. Neglecting important tasks can lead to stress. Other tasks, though urgent, may not be important, such as missed meetings or email requests. Balancing priorities is key to effective time management.