Friday, January 3, 2014

Motivation


ACCA - F1   ACCOUNTANT  IN  BUSINESS


Motivating means addressing the needs of a person to maintain his(her) enthusiasm and increases performance and productivity in a defined environment. Individuals needs define mode of motivation. There is no single best way to motivate everybody. This is called need theory (content theory).

Maslow identified five modes of motivating to tackle the needs. Table below points out needs and how they are addressed.
Needs
examples of need
mode of motivation (rewards)
Physiological
breathing, food ,water, sleep
basic pay
Safety
security, safety
health insurance
Belongingness and love
intimate relationships, friends
involvement
Esteem needs
prestige and feeling of accomplishment
promotion
Self-actualization
achieving full potential
creative activities

Herzberg's two factor theory focus on 'hygiene factors' (e.g. salary, security, fringe benefit, status) and 'motivators' (e.g. challenging work, recognition, responsibility). Hygiene factors help satisfy employee, absence of which can cause health deterioration. Motivators help motivate employees.
Factors
Needs
Reward
Hygiene
working condition, job security, relation, supervision
salary, security, fringe benefit, status
Motivation
growth, achievement, work itself, advancement
challenging work, recognition, responsibility

McGregor Theory X & Y:
Theory X workers are lazy and dislike work, motivated mainly by money, selfish and need close control by management. Management takes authoritarian, repressive style and tight control to guide workers in this group.
Theory Y workers are well motivated and enjoy work, able to take responsibility and organize themselves, and creative. Management practice liberating and developmental approach by empowering and giving responsibility to the workers in this group.

Vroom's expectancy theory assumes that behavior results from conscious choices among alternatives whose purpose it is to maximize pleasure and minimize pain. The theory suggests that although individuals may have different sets of goals, they can be motivated if they believe that:
  • There is a positive correlation between efforts and performance,
  • Favorable performance will result in a desirable reward,
  • The reward will satisfy an important need,
  • The desire to satisfy the need is strong enough to make the effort worthwhile.
Force (Strength of motivation) = Valence (strength of preference for outcome/reward) * Expectancy (motivation that results in performance -i.e employees need of resources, training and supervision )




ACCA Article: LET'S GET MOTIVATED

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