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In Stephen Covey's "The Seven Habits of Highly Effective People," he introduces the four quadrants weekly plan for time management, prioritizing tasks based on importance and urgency. Habit number three, "put first things first," emphasizes focusing on important and urgent tasks, such as exams, business meetings, crises, and emergencies. Avoiding prolonged time in quadrant four, which includes non-important and non-urgent tasks, can help reduce stress and improve productivity. Prioritizing tasks based on importance and urgency can lead to more effective time management.