Business strategies of Best buy
Business Strategies of Best buy
Introduction
Motivation
Motivation is a process of arousing and sustaining goal-directed behaviour induced by the expectation of satisfying individual needs. People loose their enthusiasm for work when due to the continuation and repetition of work. Therefor it is a duty of an employer to motivate his/her employees in order to maintain a healthy working environment. Since the origins of scientific management nearly 100 years ago, employee motivation has always been an important issue for business. In fact, many would argue that the problem of employee motivation has become even more critical today, especially because sustaining above-average returns is increasingly the result of uniqueness, which, in turn, is based primarily on knowledge workers and strategic innovation. Yet, in spite of a strong foundation of research and theory, business firms continue to struggle with what to do in practice.
Types of Motivation
Extrinsic Motivation – include circumstanced, situations, rewards or punishments, both tangible and intangible that participation in results in an external benefit
Intrinsic Motivation – include involvement in behavioural pattern, through process, action, activity or reaction of its own sake and without an obvious external incentive for doing so
Motivation Theories
1) Maslow's Need Hierarchy
Maslow's hierarchy of needs is a theory in psychology proposed by Abraham Maslow in his 1943 paper "A Theory of Human Motivation" in Psychological Review Maslow’s hierarchy has five basic needs
Physiological needs: hunger, thirst, shelter, sex, and other bodily needs
Safety needs: security and protection from physical and emotional harm
Social needs: affection, belongingness, love, acceptance, and friendship.
Esteem needs: internal esteem (self-respect, autonomy, achievement), and external esteem (status, recognition, attention, power, and face)
Needs for self-actualization: the drive to best realize one's
Introduction
Motivation
Motivation is a process of arousing and sustaining goal-directed behaviour induced by the expectation of satisfying individual needs. People loose their enthusiasm for work when due to the continuation and repetition of work. Therefor it is a duty of an employer to motivate his/her employees in order to maintain a healthy working environment. Since the origins of scientific management nearly 100 years ago, employee motivation has always been an important issue for business. In fact, many would argue that the problem of employee motivation has become even more critical today, especially because sustaining above-average returns is increasingly the result of uniqueness, which, in turn, is based primarily on knowledge workers and strategic innovation. Yet, in spite of a strong foundation of research and theory, business firms continue to struggle with what to do in practice.
Types of Motivation
Extrinsic Motivation – include circumstanced, situations, rewards or punishments, both tangible and intangible that participation in results in an external benefit
Intrinsic Motivation – include involvement in behavioural pattern, through process, action, activity or reaction of its own sake and without an obvious external incentive for doing so
Motivation Theories
1) Maslow's Need Hierarchy
Maslow's hierarchy of needs is a theory in psychology proposed by Abraham Maslow in his 1943 paper "A Theory of Human Motivation" in Psychological Review Maslow’s hierarchy has five basic needs
Physiological needs: hunger, thirst, shelter, sex, and other bodily needs
Safety needs: security and protection from physical and emotional harm
Social needs: affection, belongingness, love, acceptance, and friendship.
Esteem needs: internal esteem (self-respect, autonomy, achievement), and external esteem (status, recognition, attention, power, and face)
Needs for self-actualization: the drive to best realize one's