2. Content Name ID Motivatin g Weilong Wang 14393574 Ziyue Ouyang 14462377 Ziyu Wang 14453096 Leading Bing Dai 14236637 Han Li 14236734 Daniel Truong 14018932
3. Key Concepts Work Motivation -Forces within an individual that account for the level direction, and persistence of effort expended at work. Reward Extrinsic Reward: valued outcome given to someone by another person; motivation originates outside the individual. Intrinsic Reward: valued outcome that occurs naturally as a person works on a task; motivation originates from inside the individual.
5. Needs theory Maslow Abraham 1970 Hierarchy of needs theory Alderfer Clayton 1972 Existence-Relatedness-Growth (ERG) theory
6. Needs theory Herzberg Gerhard 1904-1999 Motivation-hygiene theory (1967) Mcclelland David 1917-1998 Acquired needs theory (1961)
7. Needs theory Human needs and how people with different needs may respond to different work situations. Maslows Hierarchy of Needs
8. Reward Theory John S. Adams 1963 Equity theory Victor H. Vroom 1964 Expectancy theory Edwin A. Locke 1984 Goal-setting theory
9. Reward Theory People give meaning to reward and respond with various work-related behaviour; focus on how motivation is energised and sustained. Adam's equity theory
10. Differences Work Motivation Reward
11. Application in real life
12. Maslows Hierarchy of Needs Abraham Maslow Hierarchy of Needs 1943 Used in the business Deal with people Most often displayed as a pyramid
13. Maslows Hierarchy of Needs
14. Maslows Hierarchy of Needs 1 Biological and Physiological needs - air, food, drink, shelter, warmth, sex, sleep 2. Safety needs - protection from elements, security, order, law, limits, stability 3. Social Needs - Belongingness and Love, - work group, family, affection, relationships 4. Esteem needs - self-esteem, achievement, mastery, independence, status, dominance, prestige, managerial responsibility 5. Self-Actualization needs - realizing personal potential, self-fulfillment, seeking personal growth and peak experiences
15. Two categories Deficiency needs that include the physiological, security, social and esteem needs Growth needs are different in that they dont stem from a lack of something. Instead they stem from a desire to grow as a person
16. Impact on Management & Business Motivate employees, vendors, clients and customers Managers can harness the power of physiological needs by providing wages that are sufficient for employees to purchase their basic needs Companies can develop products to help satisfy particular needs, and they can also focus on particular needs as a way to market and sell something
17. Equity Theory Consider following situation: An NBA basketball player negotiated a 5-year, $30 million contract. In year 3, the player has a great season and says that he wants to re- negotiate his contract or he will sit out the next season. Explain why this is happening?
18. What is Equity? When individuals think their inputs are rewarded according to their outputs and is equal to others around them, they are satisfied. But when they notice others are getting more recognition and rewards, in spite of doing the same amount of work, they become dissatisfied. This leads to feelings of unworthiness and under- appreciation. When all employees are rewarded equally, the general feeling about the organization becomes fair and appreciable.
19. Equity Theory Adams (1963) Equity theory helps propose the idea about individuals who think of themselves as over-rewarded or under- rewarded because every individual employee feels his contribution and work needs to be rewarded with equal pay. These individuals will experience distress that tries to restore balance. If the employees feels underpaid, they will come under distress and feel hostile towards the company. To avoid this feeling of hostility, equity theory comes into play. Therefore, this theory helps us understand how our values influence our motivation
20. Application of Equity Theory of Motivation Managers should consider Adam's Equity Theory when a manager is striving to achieve employee satisfaction, motivation levels Therefore, he should consider the balance and imbalance that is seen in the inputs and outputs of the employee. Input is the contribution made on the part of the employee. This input helps determine his/her reward or pay. Outputs are the tangible and intangible rewards or pay given to an individual based on his/her inputs.
21. Inputs are typically effort loyalty hard work commitment skill ability adaptability flexibility tolerance determination heart and soul enthusiasm support of colleagues and subordinates personal sacrifice, etc.
22. Outputs are typically all financial rewards pay salary expenses perks benefits pension arrangements bonus and commission Recognition Reputation Interest development, sense of achievement and advancement
23. Equity theory has five key parts 1. People hold beliefs about their inputs and outcomes. 2. People compare themselves to a referent other. 3. People form beliefs about others inputs and outcomes. 4. People compare their input/outcome ratio with others input/outcome ratios. 5. Perceptions of inequity motivate behaviour to restore equity.
26. Management Leadership Leading is the process of arousing enthusing enthusiasm and directing efforts toward organisation Leadership refers to influencing, motivating and enabling others to contribute toward the effectiveness and success of organisations of which they are members. The nature of leadership Visioning, Power, Ethics, Empowerment