ADMS 1000 Lecture Notes - Lecture 1: Harvard Business Review

• School: York University
• Department: Administrative Studies
• Course: ADMS 1000
• Professor: Eytan Lasry

Document Summary

Incentives can take various forms whether if be a promotion, and cash bonus or maybe even something simple like a free dinner. Any reward that is given following an action or an effort is an incentive. In business incentives are used effectively to promote increased productivity in order to increase financial profits by many firms. Since employees might be unhappy with their jobs and significantly lack inspiration these big corporations offer incentives like promotions, vacation time and bounces. This is a fundamental strategy by management to up bring employers and to spark innovation in them. Hence this defines an incentive as a reward given to people for their hard work. Moreover herzberg perspective states that even if employees are happy at work and are mutually stable with their bosses, the environment is friendly and overall working conditions are stable people will still not be productive as they could be.