...Below are the ways of method for motivate employees to improve the performance of company. Introduction Motivation is a term that refers to a process that elicits, controls, and sustains certain behaviors. It is a group phenomenon which affects the nature of an individual's behavior, the strength of the behavior, and the persistence of the behavior. For instance: an individual has not eaten, so he or she feels hungry, and as a response he or she eats and diminishes feelings of hunger. There are many approaches to motivation: Physiological, behavioral, cognitive, and social. It is the crucial element in setting and attaining goals and research shows you can influence your own levels of motivation and self-control. According to various theories, motivation may be rooted in a basic need to minimize physical pain and maximize pleasure or it may include specific needs such as eating and resting or a desired object, goal, state of being, or ideal or it may be attributed to less-apparent reason such as altruism, selfishness, morality, or avoiding mortality. Conceptually, motivation should not be confused with either volition or optimism. Motivation is related to, but distinct from emotion. At one time, employees were considered just another input into the production of goods and services. But this changed after the Hawthorne studies. The Hawthorne studies were conducted by Elton Mayo at Hawthorne Plant in the 1920s.The .researchers were studying the effect of different working...
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...B CHAPTER FOUR THE ECONOMIC ENVIRONMENT OBJECTIVES • To appreciate the importance of the economic analysis of foreign markets • To identify the major dimensions of international economic analysis • To compare and contrast the economic indicators of countries • To profile the characteristics of the types of economic systems • To discuss the idea of economic freedom • To profile the idea, drivers, and constraints of economic transition CHAPTER OVERVIEW When companies source, manufacture, and/or market products in foreign countries, they encounter fascinating and often challenging economic environments. Chapter Four first explores the economic environments of countries in which an MNE might want to operate by discussing the importance of economic analysis and identifying the major dimensions of that process. It then compares and contrasts key macroeconomic indicators, such as economic growth, inflation, and the surpluses and deficits reflected in the balance of payments. Finally, it reviews the characteristics of the major types of economic systems, explores the principles of economic freedom, and concludes by examining the idea, the drivers, and the constraints associated with the transition from a centrally-planned to a market-based economy. CHAPTER OUTLINE OPENING CASE: MCDONALD’S AND RUSSIA’S ECONOMIC TRANSITION [See Map 4.1.] This case exemplifies the extraordinary challenges of operating in a transition economy. In fascinating...
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...The Uses and Abuses of Agency Theory in Business Ethics The spectacular corporate scandals and bankruptcies of the past decade have served as a powerful reminder of the risks that are involved in the ownership of enterprise. Unlike other patrons of the firm, owners are residual claimants on its earnings.1 As a result, they have no explicit contract to protect their interests, but rely instead upon formal control of the decision-making apparatus of the firm in order to ensure that their interests are properly respected by managers. In a standard business corporation, it is the shareholders who stand in this relationship to the firm. Yet as the recent wave of corporate scandals has demonstrated once again, it can be extraordinarily difficult for shareholders to exercise effective control of management, or more generally, for the firm to achieve the appropriate alignment of interests between managers and owners. After all, it is shareholders who were the ones most hurt by the scandals at Enron, Tyco, Worldcom, Parmalat, Hollinger, and elsewhere. For every employee at Enron who lost a job, shareholders lost at least US$4 million.2 Furthermore, employees escaped with their human capital largely intact. Creditors and suppliers continue to pick over the bones of the corporation (which still exists, under Chapter 11 bankruptcy protection, and continues to liquidate assets in order to pay off its debts).3 But as far as shareholders are concerned, their investments have simply evaporated...
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...attempting to find out why some employees tend to work harder than others. The study of motivation helps managers understand this variance in performance. Furthermore, knowledge of what motivates people allows managers to take ‘constructive steps’ to improve their employees’ work performance[1]. Before understanding the different types of motivation, we need to examine closely the nature of motivation. The term motivation derives from the Latin word movere, meaning, ‘to move’. This means that no one can understand a person’s motivation until that person ‘behaves or literally moves’[2]. Kreitner describes motivation as ‘the psychological process that gives behavior purpose and direction’, while Moorhead and Griffin explain motivation as ‘the set of forces that causes people to engage in one behavior rather than some alternative behavior’[3]. Employees are essentially the most important aspect of an organization. Managers strive to motivate their employees so...
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...THE COMPARISON OF CLASSICAL APPROACH AND HUMAN RELATION APPROACH IN ORGANISATION STUDIES 1. What is Organisation and Organisational Behaviour? Organisation is a cooperative interaction dynamic in social system with the purpose of satisfying individual needs (Barnard, 1938). This is not a sole definition about organisation, there are many other terms about organisation such as, Mintzberg (1983) Organisation is "Every organized human activity -- from the making of pots to the placing of a man on the moon -- gives rise to two fundamental and opposing requirements: The division of labor into various tasks to be performed, and the coordination of these tasks to accomplish the activity". Organisational behaviour focuses on the study of the people behaviour within the organisation (Luthans, 1995). The Organisational Behaviour commonly known as the study and understanding of individual and group behaviour, and the path of structure towards improvement of organizational performance and effectiveness (Robbins, 1998). Another term of Organisational behaviour is a major discipline towards description, understanding, and prediction of human behaviour within formal organisation. Organisational behaviour as discipline is the clear recognition that organisations make internal settings that influence the behaviour of people within it and to some point the internal condition of an organisation is influenced by the large components such as economic, politic, social, and technology which...
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...Principal Agent Problems in the Financial Crisis of 2007-2009 BMI Master Thesis November 2009 Jasper Holke Klein Supervisor: Rob van der Mei [pic] Faculty of Sciences Business Mathematics and Informatics De Boelelaan 1081a 1081 HV Amsterdam Preface This paper is one of the last compulsory elements of the program Business Mathematics and Informatics at the VU University Amsterdam. The objective of this subject is to demonstrate the student's ability to describe a problem in a clear manner for the benefit of an expert manager. This is accomplished by doing a literature research and to apply this research to a practical situation. I have always had a strong interest in strategic thinking. One of the ways that this is modeled in the scientific theory is through game theory. From the broad range of subjects that are available in game theory I decided to focus on information asymmetry and, more specifically, on the principal-agent relationship as this theory is very widely applicable and has a strong explanatory power. In this way I was able to combine my interest in strategic thinking and the financial sector and able to give a clear explanation for the events that happened within the financial crisis of 2007 - 2009. Finally, I would like to thank my supervisor Rob van der Mei for his comments and suggestions. Amsterdam, November 2009, Jasper Holke Klein Summary This paper analyses the origin of the...
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...This study explores the positive effects of effective communication on employee motivation and performance. Specifically, in intends to compare the results between service employees and manufacturing employees in terms of communication as a motivating factor. The theories used in this study to create a conceptual framework are Herzberg Two factor theory, Goal Theory, and the circular theory of communication. The concept is that when hygiene and motivator factors are high, goals can be developed, but can only be effective only if the message was disseminated effectively. The study uses quantitative research on service and manufacturing employees. They were surveyed using a semi-structured questionnaire with ranking questions and some open-ended questions. The study found that there were only slight differences in the motivator factors for both set of respondents but there service employees are higher in hygiene. Both industries, however, see communication as an important factor in motivation. However, they only experience high hygiene, but less motivator, which means that they are not fully motivated. It has been suggested that the companies of the employees surveyed should invest on improving the motivator factors within the working environment and improve communication flows. CHAPTER 1 THE PROBLEM AND ITS BACKGROUND This study examines the importance of communication on the performance and motivation of employees. The target samples of the...
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...introduces to protect the public. It assumes that the regulatory body (usually government) is a neutral arbiter of the public interest and does not let its own self-interest impact on its rule-making processes. “The regulator does its best to regulate so as to maximize social welfare. Consequently, regulation is thought of as a trade-off between the costs of regulation and its social benefits in the form of improved operations of markets”. Regulation put in place to benefit society as a whole rather than vested interests. Regulatory body considered to represent interests of the society in which it operates, rather than private interests of the regulators. Assumes that government is a neutral arbiter. Criticisms of public interest theory Critics question assumptions that economic markets operate inefficiently if unregulated. Question the assumption that regulation is virtually costless. Others question assumption of government neutrality; argue that government will only legislate and groups will only lobby for regulation if it will increase their own wealth. Capture theory A contrary perspective of regulation is provided by capture theory. It argues that although regulation is often introduced to protect the public, the regulatory...
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...ac.in Manjunatha Belgere Ajinkya Lokare Faculty Advisory Board Prof. Kausik Gangopadhyay Prof. Subhasis Dey Prof. A. F. Mathew Prof. Sthanu Nair Prof. Venkat Raman Prof. Rudra Sensarma Editorial Board Biswa Prateem Das Debtanu Dutta Manjunatha Belgere Presented by Economics Politics & Social Sciences Interest Group Indian Institute of Management Kozhikode Editorial After an inspiring success of the inaugural edition, we are very happy to present you the second volume of “Pragati”, magazine from Economics, Politics and Social sciences (EPS) Interest Group of IIM Kozhikode. This time it is much inclusive and much bigger. We received articles from students of the esteemed colleges of India and published the best among them. This is a result of tireless effort and dedication from the student members of the group and endless inspiration and help from the faculty members of our “Faculty Advisory Board”. EPS Interest Group is a cohort of enthusiasts on economic, political and social issues. Main aim of this group is to create awareness about recent related issues and sensitize the community on the importance of human initiatives. As a group we facilitate debate, discussion, article writing, social live projects and other activities. Our teachers always say that creating awareness is the first step of mobilizing people. EPS strives to engage people in various activities to create a vibrant and sensitive human community. The second edition of Pragati deals with...
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...Corruption in Nigeria: A New Paradigm for Effective Control Written by Victor E. Dike Published on 30 November -0001 Created on 18 November 2003 • Print • Email Posted by Victor E. Dike in Guest Articles on November 18, 20030 Comments | inShare Causes of Corruption The causes of corruption are myriad, and they have political and cultural variables. Some studies point to a link between ‘corruption and social diversity, ethno-linguistic fractionalization, and the proportions of country’s population adhering to different religious traditions’ (Lipset and Lenz, 2000). Yet, other studies note that corruption is widespread in most non-democratic countries and particularly in countries that have been branded ‘neo-patrimonial,’ ‘kleptocratic’ and ‘prebendal’ (Hope, et. al (eds.) 2000; Lewis, 1996; also see NORAD 2000). Thus the political system and the culture of a society could make the citizens more prone to corrupt activities. Recently, the International Olympic Committee (IOC) had to relieve some of its officials of their posts recently because they were corrupt. And it was not too long ago that all the commissioners of the European Union (EU) resigned because they, too, were found to be corrupt beyond acceptable limits. And quite recently, the Enron Corporation (energy giant) and World-Com (a telecommunication company) in the United States were perceived corrupt because they ‘manipulated their balanced sheets, profit and loss account and tax liabilities.’...
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...INTRODUCTION 0.1. BACKGROUND Mobile telecommunications industry has grown exponentially over the last two decades (Kenny and Keremane, 2007). In some countries, the mobile sector has become a critical indicator of economic development. Mobile technology provides a unique opportunity for the developing countries where telephone diffusion has been very low. Specifically, due to its comparatively low investment requirements, mobile telecommunications allows these countries to take advantage of technological innovations to provide communications services in the areas with limited or no telephone network (Noll, 2000; Thompson and Garbacz, 2007). However, the potential of mobile telecommunications has not been fully utilized in many parts of the world. This is evident from its uneven pattern of diffusion, with over 94% penetration rate in Europe in contrast to that of 22% in Africa (ITU, 2007). In the last decade, mobile communication in Ghana has grown rapidly and users benefit from smaller devices and longer lasting accessories. Wider bandwidths are always available from competing firms who task themselves with setting new communication standards within the industry. This has called for a critical attention for mobile telecommunication service providers to utilize a multiplicity of strategies in sustaining current customer base and bringing new ones on board and to make these customers very loyal to the brand. One major tool being used is sales promotion. This communication...
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...Human Resource Management (MGT501) VU MGT - 501 T his subject/course is designed to teach the basic principles of Human Resource Management (HRM) to diverse audience/students, including those who are studying this as a supporting subject for their bachelor degree program. This course is designed to provide you the foundations of HRM whether you intend to work in HRM or not, most of these elements will affect you at some point in your career. Either you will be working with some organizations or having people working for you, in both cases you will be dealing with people. To be understandable and lively means that we need to communicate you. We start every chapter with learning objectives. The most important thing you will get out of this course are the basic skills required to succeed in today’s environment which are, you must be able to communicate, think creatively, plan effectively and deal with people. Copyright © Virtual University of Pakistan 1 Human Resource Management (MGT501) INTRODUCTION TO HRM After studying this chapter, students should be able to understand the following: Describe HRM? Explain why are we concerned about HRM? Discuss Road-map of HRM VU Lesson 1 LESSON OVERVIEW This chapter introduces the students with the basic concepts of the human resource management (HRM). During the lecture, we will be discussing the three main things, i.e. the introduction to HRM, the importance of HRM, and a brief discussion of the Resource topics...
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...Human Resource Management (MGT501) VU MGT - 501 T his subject/course is designed to teach the basic principles of Human Resource Management (HRM) to diverse audience/students, including those who are studying this as a supporting subject for their bachelor degree program. This course is designed to provide you the foundations of HRM whether you intend to work in HRM or not, most of these elements will affect you at some point in your career. Either you will be working with some organizations or having people working for you, in both cases you will be dealing with people. To be understandable and lively means that we need to communicate you. We start every chapter with learning objectives. The most important thing you will get out of this course are the basic skills required to succeed in today’s environment which are, you must be able to communicate, think creatively, plan effectively and deal with people. Copyright © Virtual University of Pakistan 1 Human Resource Management (MGT501) INTRODUCTION TO HRM After studying this chapter, students should be able to understand the following: Describe HRM? Explain why are we concerned about HRM? Discuss Road-map of HRM VU Lesson 1 LESSON OVERVIEW This chapter introduces the students with the basic concepts of the human resource management (HRM). During the lecture, we will be discussing the three main things, i.e. the introduction to HRM, the importance of HRM, and a brief discussion of the Resource topics...
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...GRE Analytical Writing ISSUE Essay Topic - 1 "Important truths begin as outrageous, or at least uncomfortable, attacks upon the accepted wisdom of the time." GRE AWA Analytical Writing ISSUE Essay Sample Solution – 1 “The opposite of a correct statement is a false statement. But the opposite of a profound truth may well be another profound truth.” ― Niels Bohr[->0] This is a proven fact that truth is the initial stage of progress. However, it is also believed that truth always starts away from the traditions and conventions. Therefore, people consider truths as attacks upon their beliefs, which people are following from ages. Truth also means some new facts that are unknown to us. People do not want to deviate from the facts, which they have learnt from their ancestors, and it is true to say that shedding ones dogmas is often difficult. They feel that it is an attack on their wisdom. If we look at the history of the world, we will find many examples where truth has generated commotions in the society. Different people have different views about the existence of God, life after death and origin of earth etc. For example, people took a long time to accept that the earth is round. Religious leaders and clergymen opposed this idea as it was against what they were teaching. Similarly, when Polish astronomer, Copernicus discovered that the earth goes round the sun and not vice versa, he was opposed by churches for many years. In fact he and his supporters were...
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...that have substantial gold deposits. To achieve rapid economic development, many countries resort to various activities to exploit natural resources. One of such activities is mining. Consequently, mining is an important economic activity which has the potential of contributing to the development of areas endowed with the resource. In North America, raw mineral production in 1998 was valued at approximately US$ 70 billion. The industry employs approximately 1 million people (Mbendi Profile, 2005). In Peru, the mining sector accounts for 50% of the country’s annual export earnings. During 1993, the mining industry’s contribution to the Peruvian economy was represented by $240m paid in taxes; $400m spent on local purchases; $280m in imported goods and accounted for over 11% of GDP (Acheampong, 2003). In South Africa, where gold is the largest mineral foreign income earner, gold mining alone contributes 27.4% in mineral revenues. The gold industry is also responsible for 56% of South Africa’s mine labour force (Mbendi, 2005). In Ghana, the sector plays a vital role in the development of the economy. In 2000, minerals accounted for 38.96% of total export earnings, followed by cocoa (22.51%) and timber (9.03%) (ISSER, 2001). The mining sector now contributes 41% to the country’s foreign exchange and is the leading foreign exchange earner. Of the $612.9 million in total mineral export income in 1997, gold, the most important mineral, accounted for $579.2 million, or 94.5%, while the remaining...
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