2.4 Motivation – IB Business Management – Flashcards
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When an individual gets satisfaction from the activity itself without threats or rewards from the outside.
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Intrinsic motivation
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Rewards, motivators that come from the outside
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Extrinsic motivation
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Standardization of work methods and enforced adoption of the best ways of working maximize output. Each worker has a role and the work is repetitive, rewards are measured on output
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Taylor motivational theory
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The needs at the base of the hierarchy are the most important and must be fulfilled first, the first four levels are considered basic needs and the rest motivators.
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Maslow hierarchy of needs
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This theory is based on hygiene needs and motivational needs. Hygiene needs provide dissatisfaction if they are not present, but do not lead to motivation. Motivational needs are intrinsic rewards
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Herzberg theory
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This theory is based on 'inputs', 'outputs' and 'equity'. An employee will be motivated whenever there is a balance, or equity, between their inputs in the business and their outputs from it.
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Adams theory
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This theory assumes that humans respond to reward and punishment. When an employee exceeds expectations he is rewarded and monitored, but when he fails he is punished.
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Pink theory
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Financial reward- employees are paid a sum of money per month, they have the security of receiving a regular income
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Salary
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Financial reward- Employees are paid an hourly rate according to how much they work.
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Wages- time rates
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Financial reward- Employees are paid for each unit or batch produced.
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Wages- piece rates
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Financial reward- Employees are paid by results when an output can't be measured.
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Comission
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Financial reward- The amount an employee receives is linked to the amount of profit a business makes.
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Profit-related pay
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Financial reward- A bonus paid in addition to an employee's ordinary compensation
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Performance-related pay
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Financial reward- An employee is given a reward in the form of shares, which guarantees the fact that the employee will stay in the company because they can't sell the shares until a certain period of time has passed. It can also be employees that are allowed to purchase shares and are given a compensation for the money they spent on those shares.
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Employee share-ownership schemes
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Financial reward- also known as perks, are the types of extras a business offers their employees (insurance, a car, etc.)
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Fringe payments
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Non-financial reward- makes an employee's job more interesting and rewarding by allowing the employee to use the full range of their abilities.
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Job enrichment
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Non-financial reward- having one employee rotated through different divisions in the business over a period of time.
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Job rotation
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Non-financial reward- Involves job rotation and job enrichment, gives employees a more interesting job with more tasks to do.
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Job enlargement
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Non-financial reward- Giving individuals access to resources and information to do their jobs and the power to make decisions.
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Empowerment
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Non-financial reward- connecting employees to the aims of the organization
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Purpose or opportunity to make a difference
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Non-financial reward- working cooperatively with a group of people
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Teamwork
