When researchers have followed senior executives with time-use diaries, calendar access, and direct observation, the findings have been remarkably consistent across decades and geographies: executives spend far less time on strategy than they intend to, far more time on operations than is strategically optimal, and are generally unaware of the actual distribution until they see the data.
This article summarizes the key research and draws out what it implies for executive planning.
The Foundational Studies
Porter and Nohria: A Year With 27 CEOs
Michael Porter and Nitin Nohria’s study, published in Harvard Business Review in 2018, is the most comprehensive direct observation study of CEO time use available. They tracked 27 CEOs across full years, collecting data on every 15-minute block of time.
Key findings:
- Average work week: 62.5 hours across 230 working days
- Time in meetings: 37 hours per week (approximately 59% of total work time)
- Time on thinking, strategy, and reading: approximately 15% of total work hours
- Sleeping: CEOs averaged only 6.9 hours per night, with 79% working at some point on weekends
- Work at home: 56 hours per year on average spent on home activities during “non-work” time
The researchers did not position these findings as evidence of a productivity crisis. Most CEOs in the study were performing reasonably well by standard business metrics. The finding was more subtle: the time use patterns reflected a structural orientation toward operational presence over strategic thought, and this orientation was largely unconscious — CEOs’ self-reported time estimates differed significantly from the observed data.
The 15% strategy and thinking time figure is the most cited. At 62.5 hours per week, 15% represents approximately 9 hours of strategic thinking per week — about 1.8 hours per working day. For decisions that shape multi-year organizational trajectories, 1.8 daily hours of focused strategic thought is a binding constraint.
Bandiera, Hansen, Prat, and Sadun: CEOs and Firm Performance
The 2020 study by Oriana Bandiera and colleagues at Harvard Business School is notable for connecting executive time use directly to firm performance outcomes. Their study covered Italian CEOs and collected detailed time-use data across thousands of working hours.
The central finding: CEOs who spent more time in “high-quality interactions” — defined as planned, multi-stakeholder, initiative-focused engagements rather than reactive, one-on-one, operational ones — were associated with firms that performed significantly better across multiple metrics.
Critically, the high-performing CEOs were not working more hours. The difference was compositional. Their time was distributed differently: more planned, more strategic, more multi-stakeholder. The researchers concluded that “the time CEOs spend in high-quality interactions is strongly correlated with firm performance,” and that this relationship held even after controlling for firm size, industry, and other observable characteristics.
The implication is not that every CEO who shifts time toward strategy will see better firm performance — the relationship is correlational, and causality is difficult to establish in observational studies. But the finding is consistent with both the theoretical argument (executives have highest leverage in strategic and people decisions) and with Drucker’s empirical observations from decades earlier.
Drucker: The Effective Executive
Peter Drucker’s The Effective Executive (1967) was not a time-use study in the quantitative sense, but it drew on direct observation of executives across decades and documented patterns that modern research has consistently confirmed.
Drucker’s core observation: executives do not control their own time. “I have never encountered an executive who remains in control of his time unless he first finds out where it goes.” He argued that the natural tendency of any organizational role is for others’ demands to consume the available hours — and that deliberate, systematic time management was required to prevent this.
His prescription: record actual time use (not estimated), eliminate time-wasting activities systematically, and consolidate remaining discretionary time into large blocks sufficient for meaningful work.
This sequence — measure, eliminate, consolidate — mirrors the structure of the CEO Time Triangle’s weekly audit and planning loop. The measurement step (audit), the elimination step (triage and async conversion), and the consolidation step (building strategy blocks before operational meetings fill the week) translate Drucker’s 1967 framework into a 2025 workflow.
The Cognitive Science Behind Why Operational Work Wins
The research on executive time use documents the pattern, but cognitive science explains the mechanism.
Urgency Bias
Research by Meng Zhu, Yang Yang, and Christopher Hsee (2018) demonstrated that humans systematically prefer urgent tasks over important ones when the two conflict — even when the important task has higher stated value. They called this the “mere urgency effect.” Participants in their experiments consistently chose to work on expiring low-value tasks over non-expiring high-value ones, even when the value difference was explicit.
This is not irrational — urgency signals a real-world constraint (a deadline) that importance does not. But it produces systematic misallocation when applied to executive time: operational tasks generate urgency signals (deadlines, stakeholder pressure, visible metrics) while strategic work does not. The result is a predictable bias toward operational engagement that operates even when the executive consciously prioritizes strategy.
Completion Satisfaction
Operational tasks have clear endpoints. A budget approval is complete. An escalation is resolved. A status meeting ends. The completion of a task produces a satisfaction response that motivates the next task — a mechanism studied extensively in the literature on intrinsic motivation and goal completion (see Baumeister’s work on the importance of goal completion to wellbeing, though his broader ego depletion model has faced significant replication challenges).
Strategic work rarely has clear completion signals. A competitive analysis can always be deeper. A capital allocation decision can always involve more scenario planning. This means strategic tasks do not produce the same completion satisfaction that makes operational tasks feel rewarding, which creates a subtle but consistent motivation differential that favors operational engagement.
Social Presence Norms
Research on organizational behavior consistently documents the norm of presence — the belief that visible engagement in the organization’s operational activities signals commitment and competence. Executives who spend visible time in meetings, reviews, and collaborative problem-solving are perceived as engaged leaders. Executives who close their door (or block their calendar) for strategy sessions are perceived as absent.
This norm is well-documented in studies of flexibility stigma and ideal worker expectations. It creates organizational pressure that pushes executives toward operational visibility even when strategic thinking would be more valuable.
What the Research Implies for Executive Planning
Implication 1: Self-Reported Time Estimates Are Unreliable
Porter and Nohria found significant gaps between CEOs’ self-reported time estimates and their observed time use. Bandiera et al. found similar discrepancies. Executives who believe they are spending significant time on strategy are often spending substantially less.
This means subjective assessment of time allocation is insufficient as a planning tool. A systematic record — actual calendar data categorized against stated priorities — is necessary to see the pattern clearly. The weekly audit step in the CEO Time Triangle framework addresses this directly.
Implication 2: Intent Without Structure Produces No Change
In the absence of structural intervention, urgency bias and social presence norms reliably push executive time back toward Operations. This has been observed in organizational change research: executives who commit to spending more time on strategy without changing their calendar structure and enforcement mechanisms revert to baseline within weeks.
Structural interventions that have evidence of effectiveness include: time-locked calendar blocks that require authorization to move, standing instructions to scheduling staff about block priorities, and regular (weekly) auditing that makes drift visible and creates accountability.
Implication 3: Meeting Structure Matters More Than Meeting Volume
Bandiera et al.’s distinction between “high-quality interactions” (planned, multi-stakeholder, initiative-focused) and “lower-quality interactions” (reactive, one-on-one, operational) suggests that reducing meeting volume alone is insufficient. An executive who cuts 20 operational meetings and adds 20 fragmented, unstructured one-on-ones has not improved their allocation — they may have made it worse.
Meeting quality requires preparation, purpose, and a defined decision or output. AI can contribute here: pre-meeting briefings, structured agendas, and post-meeting outcome documentation are tasks AI handles efficiently, and their consistent use converts meetings from informational to decisional.
Implication 4: The People Category Compounds
Research on leader developmental behavior (Hannah et al., 2009; Day et al., 2014) indicates that deliberate investment in the capability of a leadership team produces returns that compound over time — a well-developed VP grows the capacity of their entire function, which in turn reduces the operational escalations that reach the CEO level. Drucker described this as the difference between “managing for results” and “developing people for results” — the latter scales, the former does not.
Executives who underinvest in the People category of the CEO Time Triangle are not just underperforming in the short term — they are making the long-term Operations problem worse by preventing the organizational capability development that would reduce escalation volume.
The Research in Practice
The aggregate picture from the research is clear: executive time allocation significantly influences organizational outcomes, allocation is systematically biased toward operations by cognitive and social mechanisms, and the bias is largely invisible to the executives experiencing it.
The practical response to this research is not a revolution in personal productivity. It is a systematic weekly practice — 25 minutes — that makes the actual distribution visible, compares it to the intended distribution, and generates a concrete structure for the coming week before operational demands claim the available time.
The research does not tell you what your strategy should be. It tells you that if you are not protecting the time to develop one, the organization’s future will be shaped by whoever had the most urgent demands this week.
Start by running the audit — one week of calendar data, categorized against the CEO Time Triangle. See what the data shows before assuming you already know.
Related:
- The Complete Guide to AI Planning for Executives
- Why CEO Calendars Are Underplanned
- The Executive AI Planning Framework
- Complete Guide to Deep Work with AI Assistance
Tags: executive time use research, CEO time management science, Bandiera Porter Drucker, strategic time allocation, executive productivity research
Frequently Asked Questions
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What does research say about how CEOs actually spend their time?
Porter and Nohria's year-long study of 27 US CEOs found that CEOs worked 62.5 hours per week on average, with meetings consuming 37 hours. Only 15% of time went to thinking, reading, and strategy. Bandiera et al.'s 2020 Italian CEO study found that higher-performing firms had CEOs who spent more time in planned, multi-stakeholder, strategy-oriented activities. -
Is the 40% strategy time target evidence-based?
It is directionally supported by the research — high-performing CEOs in the Bandiera et al. study spent significantly more time on strategic activities than lower-performing ones. The specific percentage (40%) is a practical translation of the research finding rather than a direct empirical target from any single study. -
Why do executives consistently underinvest in strategy time?
Several mechanisms are well-documented: urgency bias (operational tasks signal their deadlines while strategy does not), completion satisfaction (operational tasks have clear endpoints), social presence pressure, and the absence of a systematic review that would make allocation patterns visible. -
What does Drucker's research say about executive effectiveness?
In The Effective Executive (1967), Drucker argued that effective executives must manage their time deliberately because others' demands will otherwise consume it entirely. He prescribed consolidating discretionary time into large blocks — a finding that modern research on cognitive performance has supported.