...* Contents Summary 2 1.0 Introduction 2 2.0 Definition of Motivation 2 3.0 theories of motivation 3 3.1 Hertzberg’s two (2) factor theory 3 3.2 McGregor’s X and Y theory 3 3.3 Maslow’s Hierarchy of needs 3 3.4 McClelland’s Human Motivation theory 4 4.0 Failure of employee motivation programs 4 4.1 Empirical Study 1 4 4.2 Empirical study 2 5 5.0 Improving employee motivation 6 5.1 Applying McGregor’s X and Y theory 6 5.2 Applying McClelland’s Acquire needs theory 6 5.3 Applying Hertzberg’s two factor theory 6 5.4 Applying Maslow’s Hierarchy of needs theory 7 6.0 Conclusion 7 7.0 References 8 8.0 Appendices 9 Source: Maslow’s Love and Belonging Needs 10 * Summary The purpose of this documentation is to highlight the different factors that influence employee motivation. Different type of people a motivated by different factors, some are intrinsically (non-materialistic) motivated while others are motivated extrinsically (materialistic). This document also provides an analysis of two (2) empirical studies relating to the reasons of failure in the employee motivation program. There are various ways to improve motivation amongst employees, as this will be presented within this documentation. * 1.0 Introduction Employee motivation continue to be an imperative issue for leaders and mangers. Unmotivated employees are inclined to devote minimal or no effort in their jobs, produce low quality work, exit the company if given the opportunity...
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...MODULE ONE THEORY AND CONCEPT OF ENTREPRENEURSHIP STUDIES Learning Objectives At the end of this module students should be able to; Discuss the origin of Entrepreneurship Define the concept “Entrepreneur” List the roles and characteristics of an Entrepreneur State the motivational factors of Entrepreneurship. UNIT ONE: ORIGIN AND CONCEPTS OF ENTREPRENEUR AND ENTREPRENEURSHIP Objectives: At the end of this unit students should be able to; Compare and contrast the various definitions of Entrepreneur and Entrepreneurship. 1.2. Differentiate between Entrepreneur and Entrepreneurship. List five contributions to the study of Entrepreneurship. Introduction Businesses are any undertaking created for the purpose of creating utility. Utility is simply the satisfaction derived from consuming certain goods and services. Businesses are created by a special kind of labour which is also referred to as the entrepreneur. Entrepreneur is regarded as a special kind of labour because not all labour possesses entrepreneurial abilities which enable them to start a business from the scratch. Thus, entrepreneurship is simply the establishment of a new business or business enterprise or venture. This Unit looks at the development of the concept of entrepreneurship and the various ways in which this concept can be defined. Quick Review questions I. Businesses are not any undertaking created for the purpose of creating utility...
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...7/7/2014 Evernote Export Modern Welfare Criteria Created: 5/22/2012 9:12 PM General Equilibrium and Perfect Competition General Equilibrium of Exchange and Consumption 1. We assume that there is no production and the economy is a pure exchange economy. There are 2 individuals and 2 goods, who will exhaust the goods together. Naturally they will consume until (MRS x,y )A = (MRS x,y )B. But we don't know beforehand what will be the exact equilibrium. But if we know the initial distribution, we can define the boundary within which the equilibrium solution will lie. 2. Thus the initial distribution of goods and their relative bargaining strengths will determine the equilibrium position. This general equilibrium determines not only the final distribution of goods but also the rates of exchange or relative prices. Note that however, we can't determine absolute prices from here, we can only determine relative prices. Show that in PC, General Equilibrium can exist 1. This ca be shown using the fact that under PC, relative prices which A is facing will be same as relative prices which B is facing and hence MRS x,y for both will be same. General Equilibrium of Production 1. We assume that all labor is homogenous, receives equal wages, total quantity of each factor (L and K) is fixed, the production function is continuous and twice differentiable and the technology is given which together with factor endowments limits the production possibilities. Naturally the equilibrium condition...
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