Business Studies Notes For IGCSE

People work for a number of reasons. A lot of people work because they need to make money to survive, while some work voluntarily for other reasons. Motivation is the good reason why people work, and it better drives them to work. Therefore, managers try to find out what motivate employees and utilize them to encourage workers to work more efficiency. This leads to higher productivity, increased output, and higher profits ultimately.

Nowadays, machinery is more prevalent in businesses which leads to increased productivity as well. However, the total amount that a well motivated workforce can produce must be recognised still, since employees are a companies greatest assets! People work very difficult when they will work for themselves. If they work for other people, less so.

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Managers have been looking into what makes employees contribute their fullest to the business and these studies have resulted four main ideas of motivation. Money is the primary motivator. If employees are paid more, they work more. Work is divided into simple processes, and more money is paid which will raise the level of productivity an employee will achieve. The excess pay is less than the increased productivity. Employees have emerged like machines rather, which theory will not take into account non-financial motivators.

Even if you pay more, there is absolutely no guarantee of a productivity rise. It really is difficult to measure an employees result. Maslow created what’s know as the hierarchy of needs. Physiological needs: basic requirements for success. Security needs: the need to by literally safe. Social needs: the need to belong and have good romantic relationships with co-workers.

Esteem needs: the need for self-respect and also to be well known by others. Self-actualisation needs: the need to achieve your full potential and become promoted. Businesses understand that the greater levels of inspiration can be found to workers, the harder they will work. Maslow also suggest that each known degree of inspiration must be performed before heading to another level.

Once one degree of motivation is met, more of this will longer encourage the worker no. Some known levels aren’t present in some jobs. Some rewards participate in several level on others. Managers need to recognize the known levels of inspiration in any job before using it to inspire employees.