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In the "Seven Habits of Highly Effective People," Covey introduces the four quadrants weekly plan for time management, emphasizing the importance of distinguishing between tasks that are important and urgent. This method helps prioritize tasks and avoid being stuck in a state of constant stress. Urgent and important tasks such as exams, meetings, emergencies, and deadlines require immediate attention, while tasks that are not important or urgent can be delegated or postponed. By focusing on the important tasks, individuals can effectively manage their time and reduce stress.