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Stephen Covey's teaches a method in "The 7 Habits of Highly Effective People" to manage time through the four quadrants weekly plan, emphasizing the importance of prioritizing tasks based on importance and urgency. By asking yourself if a task is important and urgent, you can focus on what truly matters. Tasks such as exams, business meetings, emergencies, and deadlines fall into the important and urgent category, requiring immediate attention. However, it's important to avoid getting stuck in this quadrant to prevent constant stress. Instead, prioritize tasks that are important but not urgent to effectively manage your time and responsibilities.