Curious Observation – First Step in Decision Making Process
February 12, 2025
There is no philosophy in the management domain which has not been criticized. The strategic financial management philosophy is no exception. Although it has been proven that there are numerous benefits to implementing this framework of decision making, there are some associated costs as well. This is because of the various disadvantages that accompany the […]
Using Business Process Improvement as a tool to improve internal efficiencies and to bring about the desired changes in business operations has become an accepted practice in most of the Organizations. At a time where the life cycle of products and businesses is becoming shorter and fast changing in line with changes in technology and […]
In accounting and in finance, conservatism is generally considered to be a positive quality. However, studies in behavioral finance have shown that this may not be the case. This is because conservatism bias is one of the most profound biases which impact the investment decisions of an average investor. In this article, we will understand […]
The concept of Attention is studied in Cognitive Psychology with focus on explaining how we process the environmental information with the help of our sensory receptors. The term attention is used for various perceptual processes, which involves selection and inclusion of certain sensory inputs as a part of our conscious experience. The process of attention […]
In the previous articles, we have already seen what Buy Now Pay Later (BNPL) financing is, how it is implemented as well as the advantages of such financing to merchants. The common viewpoint is that corporations only benefit from implementing Buy Now Pay Later (BNPL) financing. This means that even though individuals might associate disadvantages […]
Motivation is a very important for an organization because of the following benefits it provides:
Every concern requires physical, financial and human resources to accomplish the goals. It is through motivation that the human resources can be utilized by making full use of it. This can be done by building willingness in employees to work. This will help the enterprise in securing best possible utilization of resources.
The level of a subordinate or a employee does not only depend upon his qualifications and abilities. For getting best of his work performance, the gap between ability and willingness has to be filled which helps in improving the level of performance of subordinates. This will result into-
The goals of an enterprise can be achieved only when the following factors take place :-
Motivation is an important factor which brings employees satisfaction. This can be done by keeping into mind and framing an incentive plan for the benefit of the employees. This could initiate the following things:
In order to build a cordial, friendly atmosphere in a concern, the above steps should be taken by a manager. This would help in:
Stability of workforce is very important from the point of view of reputation and goodwill of a concern. The employees can remain loyal to the enterprise only when they have a feeling of participation in the management. The skills and efficiency of employees will always be of advantage to employees as well as employees. This will lead to a good public image in the market which will attract competent and qualified people into a concern. As it is said, “Old is gold” which suffices with the role of motivation here, the older the people, more the experience and their adjustment into a concern which can be of benefit to the enterprise.
From the above discussion, we can say that motivation is an internal feeling which can be understood only by manager since he is in close contact with the employees.
Needs, wants and desires are inter-related and they are the driving force to act. These needs can be understood by the manager and he can frame motivation plans accordingly. We can say that motivation therefore is a continuous process since motivation process is based on needs which are unlimited. The process has to be continued throughout.
We can summarize by saying that motivation is important both to an individual and a business.Motivation is important to an individual as:
Similarly, motivation is important to a business as:
Your email address will not be published. Required fields are marked *