Applying Motivational Theories to Compensation Abstract An organization’s success is built and defined on its strategy and goal for the company. In order for an organization to achieve its goal‚ it must be shared with the whole organization. This includes the employees as well as stockholders feeling connected to the company and motivated to reach these goals usually by some type of compensation. Keywords: strategy‚ employees‚ compensation‚ motivation
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Kinetic theory (or the kinetic or kinetic-molecular theory of gases) is the theory that HYPERLINK http//en.wikipedia.org/wiki/Gasgases are made up of a large number of small particles (HYPERLINK http//en.wikipedia.org/wiki/Atomatoms or HYPERLINK http//en.wikipedia.org/wiki/Moleculemolecules)‚ all of which are in constant‚ HYPERLINK http//en.wikipedia.org/wiki/Randomnessrandom HYPERLINK http//en.wikipedia.org/wiki/Motion_(physics)motion. The rapidly moving particles constantly collide with each other
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MANAGEMENT THOUGHTS AND THEORIES The industrial revolution‚ which began in Europe in mid-1700s‚ was the starting point for the development of management concepts and theories. PRECLASSICAL CONTRIBUTORS TO MANAGENENT THOUGHT Name Period Contribution Robert Owen 1771- 1858 Proposed legislative reforms to improve working conditions of labor Charles Babbage 1792-1871 Advocated the concept of division of labor’; devised a profit-sharing plan which led to the modern-day Scanlon Plan Andrew
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CONSUMER THEORY I Consumer theory – deals with how a consumer chooses the best bundle of goods he/she can afford. BUDGET CONSTRAINT To know which bundle of goods a consumer can afford‚ we have to look into the consumer’s budget constraint. We first assume that there are only two goods‚ say good x1 and x2. A consumer can choose from bundle A (3‚ 2) – 3 units of good 1 and 2 units of good 2; bundle B (6‚ 5) – 6 units of good 1 and 5 units of good‚ so forth. Given the price of good 1 (p1)‚
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Z00_REND1011_11_SE_MOD4 PP3.QXD 2/21/11 12:49 PM Page M4-1 MODULE 4 Game Theory LEARNING OBJECTIVES After completing this supplement‚ students will be able to: 1. Understand the principles of zero-sum‚ two-person games. 2. Analyze pure strategy games and use dominance to reduce the size of a game. 3. Solve mixed strategy games when there is no saddle point. SUPPLEMENT OUTLINE M4.1 M4.2 M4.3 M4.4 M4.5 M4.6 Introduction Language of Games The Minimax Criterion
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2–4Weber’s Bureaucracy Copyright © 2010 Pearson Education‚ Inc. Publishing as Prentice Hall 2–2 Theory X and Y • Douglas McGregor proposed the two different sets of worker assumptions. Theory X: Assumes the average worker is lazy‚ dislikes work and will do as little as possible. • Managers must closely supervise and control through reward and punishment. Theory Y: Assumes workers are not lazy‚ want to do a good job and the job itself will determine if the worker
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2‚000 2‚100 2‚200 1.60 1.00 0.07 0.05 Asset X Value Beginning 20‚000 22‚000 21‚000 24‚000 22‚000 23‚000 26‚000 25‚000 24‚000 27‚000 Ending 22‚000 21‚000 24‚000 22‚000 23‚000 26‚000 25‚000 24‚000 27‚000 30‚000 Beta (X) Beta (Y) Risk Free Rate EMPR a. Calculate the annual rate of return for each asset in each of the 10 preceding years‚ and use those v the average annual return for each asset over the 10-year period. Return (X) Return (Y) 15.00% 2.27% 20.95% -1.25% 13.18% 20.00% 2.69% 4
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homogeneity across cultures. The theory of relative face orientation We have discussed that Brown and Levinson’s (1987) face-saving politeness theory has been undermined for its inability to be applied universally. In surveying recent studies in cross-cultural communication‚ Mao (1994) mentions Janney and Arndt (1993)‚ who characterise it as idealistic‚ culturally biased‚ and lacking objective empirical evidence for the evaluation of their politeness universals. Instead of a theory centered on universals
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Topic 6 - The Theory of Consumer Behavior – the theory of utility • The theory of consumer behaviour may be analysed by either utility theory and / or indifference curve analysis. • Note: this course only requires students to be aware of utility theory. Indifference curve analysis is undertaken in year 2 and is not a requirement of this course Basic Principles of the theory of Consumer Behaviour • Consumers are rational optimisers • Consumers seek to maximise total utility • Utility is achieved
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Timeline of Motivation theories 1911 Frederick Taylor’s scientific management Taylor first published his work‚ the Principles of Scientific Management. In his study he described how to apply scientific methods to the management of workers which could improve productivity. Scientific management methods suggests how to optimize the way tasks were performed and shortening the work so that the employees can be trained to perform to their very best. 1943 Abraham Maslow’s Hierarchy of needs
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