Understanding Intrinsic And Extrinsic Motivational Theories Commerce Essay Example

Flat 1:Physiology

According to Maslow's motivational theory, different employees have varying demands that a company can fulfill by understanding these needs. When employees' desires are properly met, they become motivated to produce more effective work for the company. Managers should offer incentives based on individual needs in order to progress through all five levels mentioned above. For instance, if someone lacks food, their motivation will be focused on obtaining a basic salary to meet their physiological needs rather than pursuing higher wages.

The Importance of Employee Motivation

Employee motivation is crucial for the success of any business and can be explained under the following headings:

Loyalty With Company

Highly motivated employees tend to exhibit greater loyalty towards their company. They adhere to rules and regulations, respect privacy policies, and refrain from disclosing important information about the company.

Motivation is a crucial factor in improving a company's performance in the market. When employees are highly motivated, they produce positive outcomes that contribute to the company's progress and help it gain a larger share of the market. Consistently motivating employees enhances their ability to work with focus and achieve organizational goals, while also reducing absenteeism in the workplace.

Furthermore, motivation plays a significant role in decreasing employee turnover. By offering incentives and rewards, managers can motivate employees to stay with the company and dedicate more time to their work. This not only reduces turnover but also ensures stability within the organization.

Moreover, increased motivation leads to happier staff members who are more likely to generate innovative ideas for the business. By implementing these

ideas, the company can maximize profits and increase its market share.

Employee Appraisals are utilized by organizations to assess the general performance of their employees.

Significance of Employee Appraisals

Employee appraisals are vital for the development of the company and offer chances for employee advancements.

In the appraisal process, personal attendance, is crucial where both the employee and supervisor convene to discuss the strengths and weaknesses of the employee.

The appraisal procedure allows employees to discuss personal concerns with their supervisor. Employee assessment is the best way to provide feedback, allowing employees to identify strengths and weaknesses and work on improving. During employee assessment, employees can openly communicate with their supervisor and receive guidance for their career path. Employee assessment involves a face-to-face meeting where supervisors explain company goals and employees understand what they need to achieve for company success. Small and medium companies can motivate employees through organizing outside seminars that provide information about the company's goals.

Both employees' expressions of their feelings and contributions to the company's success can be facilitated through this approach. Additional Duties, which provide more motivation and create a sense of satisfaction among employees, are given to them, making them more willing to take on challenging tasks. Social Gatherings also play an important role in motivating employees by bringing them closer together and allowing them to share their emotions with supervisors and co-workers. Additionally, assigning Leadership Roles demonstrates the company's recognition of employee importance and encourages them to work harder.

Congratulations on Job Well Done If supervisors are pleased with employees' performance, they should promptly praise them. This will motivate employees to improve their work.

Creating a Positive Work Environment By establishing a favorable work environment, the

company can achieve better outcomes. This will also inspire employees to put in more effort.

Individualized Training Organizing personalized training for all employees will incentivize them to work more efficiently. It is also essential for the company's success.

Management Styles and Their Impact on Managing Change The main management styles and how they influence change management within a company are as follows.

Bureaucratic Style In this style of management, adherence to the company's rules and regulations is necessary for all tasks performed by management. Employees who have a good understanding of these rules can contribute to the company's success by applying them in their work.

This manner of direction may not impact the managing alterations of the company because they all have to follow the regulations and ordinances of the company that are already described from start of the company.

Democratic Direction Manner

In this direction manner, employees have empowerment and they can make their determinations in their own way, but they are given a specific time limit to complete a specific task and employees have to complete that task within the time allowed by using any work method of their choice. This manner of direction may lead to slow decision making because sometimes employees need to consult their ideas with someone else. Management changes may take place because of work burden, and to reduce this workload, management can hire more staff.

Autocratic Direction Manner
This style of direction involves all work being done by superiors, with no input from employees. It may affect employee performance as they may feel excluded from contributing to the company's success. This approach can save time in making important decisions about company matters since there is

no need to consult all employees and gather their opinions. It can also impact managing changes to steer the company towards success.

Laissez Faire Direction Manner
The laissez faire manner, also known as permissive manner, gives employees complete freedom from management. They are empowered to make decisions on any matter, allowing them to generate creative ideas that contribute to the company's success. However, this approach to managing changes can sometimes lead the company astray because decisions are made solely by employees without seeking guidance or direction from supervisors.

This approach to management is an effective way to motivate employees within the company.

Advisory Direction Approach: This approach allows supervisors to gather employee opinions and input on specific matters within the company, motivating them to generate more ideas. While supervisors make final decisions, it emphasizes the importance of employees in company affairs.

Training Approach to Management: In this style of management, supervisors strive to train both new and existing employees through various training programs. This ensures all employees receive up-to-date information and can contribute better results by incorporating this knowledge into their work for the company.

Management by Walking About (MBWA): Successful managers utilize MBWA as a means of obtaining authentic and unfiltered information about the company's policies. It also allows them to gauge employee satisfaction and assess overall morale within the organization.

Implementing this approach will build trust and loyalty within a company. In this approach, directors and employees have a direct relationship, allowing directors to understand employee behavior during changes in management.