MGTA05H3 Lecture Notes - Lecture 11: Opportunity Cost, Equity Theory, Expectancy Theory
LEC 11 - MOTIVATION
▪ Key issues in business management includes people
o How to mobilize their talents to do their tasks
o How to get people motivated is the aim of the lesson
If people are not motivated, what happens?
▪ Productivity decreases, especially with routine jobs
▪ Quality decreases as well
▪ Employees most likely will leave → replacing them is difficult for the business (eg. Long process)
Why motivate people?
▪ Helps to energize employees and controls their behaviour
▪ Creates efficiency and better quality
▪ Retaining high levels of innovation
▪ To motivate employees, the opportunity cost is essentially zero
What motivates people?
▪ Money, meaning you pay them more (coming from revenue → selling more products, become
more efficient)
o Cost is always easier to control meaning that you must make them more efficient → go
into the office and find every inefficiency
o Tur our people ito ahies (but not completely) and make them efficient as
possible so you can pay them more
o By breaking the job down constantly means specialization
▪ You should treat them like people, allowing them to engage in their tasks
▪ Motivation varies on the person
▪ Leadership opportunities, meaning that their leaders now are trustworthy
o Leaders ho hae their eploees’ est iterests → motivating them to achieve better
o Allows employees to see that lies ahead in their career
o Opportunity to develop talent
▪ Opportunities to learn, improve skills and invest in themselves
o A way for leaders to be involved and understand what will give their employees to have
these opportunities
▪ Positive work environment
o Physical – eg. Large, open office space
o Non-physical – eg. Helpfulness of co-workers and authority
▪ Difference of tasks
o Employees may be bored by performing the same tasks repeatedly
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MGTA05H3 Full Course Notes
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