Nowadays the world of business is not traditional, here all the level of management either mid-level of management or top level of management or even the leadership level (decision makers ) are in a trouble to differentiate between IMPORTANT AND URGENT TASKS. The losses of misunderstanding between urgent &. important very from situation to situation, if one has misjudged between two at leadership level in an organization the cost bear might be in total loss of customer and finally organization might be out of business in long term. The benefits accumulated at short term cannot be compared at benefits in the long term, its just like to differentiate between the two is URGENT &. IMPORTANT. Sometime we follow urgency at managerial level in an organization ,the tasks like telephone, emails, urgent inquiries, unexpected customer problems, some employees emerging issues compel even a wise manager towards urgency. Whereas the most important and long term tasks are neglected at the expense of urgent tasks. Keeping in view the all emerging situation and keeping an eye on future the wise leaders of five hundred top multinational companies not only spent an isolated time for planning, long term setting of goals, different roles, models, forecast time estimation and calculating risk factors (Gomez, 2008, pp.20). Even top leading companies in business plan a certain period for their managers at recreational place where they come closer to leading work force and help them to understand the long-term and important goals and roles to achieve these goals. It has been observed that cost of this trip at organization and the result achieved due to this recreational trip was one of important factor for understanding the difference between urgent &. important tasks: major one- important, minor one – urgent.