In hospitals, punctuality can make all the difference, of course between life and death. Punctuality is inevitable everywhere. In business also this is very important. If you want to be a successful businessman, you have to be very particular in being punctual. The failure to keep up an engagement punctually may mean a setback for his business. If you are not punctual, you can see your washes away between your cup and lip!
Punctuality is a very important part of military life for several reasons. one reason is that if someone is late for a patrol or convoy that patrol or convoy might haveto leave without that person. Another reason is because it will make whoever your relieving have to stay at work for longer than they are supposed to, tired and sluggish because of that fact, giving a high chance that whatever work that person does would be sub par and not up to standards because of lack of sleep.
Punctuality also shows your chain of command that you are serious about your job and are ready and motivated to do said job to the best of your ability. Some cultures have an unspoken understanding that actual deadlines are different from stated deadlines; for example, it may be understood in a particular culture that people will turn up an hour later than advertised. In this case, since everyone understands that a 9am meeting will actually start around 10am, no-one is inconvenienced when everyone turns up at 10am.
In cultures which value punctuality, being late is tantamount to showing disrespect for another's time and may be considered insulting. In such cases, punctuality may be enforced by social penalties, for example by excluding low-status latecomers from meetings entirely. Such considerations can lead on to considering the value of punctuality in econometrics and to considering the effects of non-punctuality on others in queueing theory.
If the relative value was different, it would be easy to reduce waiting times by providing extra planes or doctors, and under-utilizing them, at the cost of increasing the price of travel or medical treatment proportionately. This can be seen in the behavior of the wealthy, who can afford to hire private planes and have doctors who visit them, rather than vice versa, and in the extreme case of the ultra-rich, to have their own personal physicians and dedicated private planes and flight crews who wait on their needs exclusively.