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I am referring to short and scattered fragments of time like commuting, waiting in a queue, waiting for a bus etc. etc.
I read an interview with a businessman who said he was working as a photography assistant and he completed two MBA by utilizing the fragments of time during the shoots.
Are there any time management materials or strategy to managing these easily wasted time?

I recommend that you utilize a GTD methodology coupled with good "capturing" tools, so that you can quickly access material based on context. For this I recommend Pocket Informant for tasks, Evernote for notes, Pocket for news articles, Dropbox or Google Drive for files/work, DayOne for Journal entries. There are many other good apps. The main thing is that you can quickly access the right material when you need it.
– Winterflags – 2015-12-22T09:58:28.857Just one note. There are limitations to this strategy. I am ending business administration studies and certainly it helps to use free time in the public transport. But for some things you need quality time like macroeconomics models and Econometrics. Maths are just too hard to do them in your head. May be some photos had hours of preparation between shots. (make up, lighting, etc....) Of course make the best of the time you have. – borjab – 2016-07-11T09:46:20.090