Business situation in 21st century is variable and unpredictable with the financial crisis’s impact remain. My essay is concentrated on the 3 main factors which has great effect on the business to dissolve the mystery in the successful organizations. I hope the reader’s could be inspired and encouraged when reading.
Motivation, ‘refers to the mainspring of behaviour; it explains why individuals choose to expend a degree of effort towards achieving particular goals’ (Dawson 1992). In psychology, motivation refers to the initiation, direction, intensity and persistence of behaviour (Zelick, 2007). Motivation is the force and willingness that drives us to complete the task and achieve goals, aiming at meeting individuals’ basic needs and creating satisfaction from self-actualization. The researches conducted by psychologists and economists on motivation make it possible for managers to understand and interpret employees’ behaviour in workplace, which provided the foundation for the edifice of motivation theory. Theory explanation
Since the importance of Hawthorne Effect was widely recognised by academic circles and business world, there has been a variety of theories being proposed on motivation, including Maslow's hierarchy of needs, Douglas McGregor's ‘Theory X’ And ‘Theory Y’, Herzberg's two-factor theory, Alderfer's ERG theory, McClelland’s Achievement Motivation Theory, Vroom's expectancy theory, Adams's equity theory and etc. And Maslow's hierarchy of needs will be explained and applied in the ensuing paragraphs.
Maslow's hierarchy of needs, put forward by Abraham Maslow, being referred to as a ‘classic among classic’ (Matteson and Ivancevich 1989:369) is the most fundamental and well-acknowledged content theory of motivation. It focus on both intrinsic motivators (needs or drives that originate within the person, such as desire for prestige or status) and extrinsic motivators (things that originate outside the person and can produce desires and needs, such as money )(Ellis and Dick, 2003).Maslow proposed that the motivation is a combination of different levels of the demands which can be divided into 5 layers. The satisfaction degree of each need has significant impact on individuals’ personal development. Hierarchy of needs theory is also illustrated in the shape of a pyramid.
(This picture is selected by me by using Google Image Search.) Business case
Starbucks Corporation, founded in 1971, is the most successful coffee retail chain in the world. In addition to coffee, Starbucks makes profit by selling soft drinks and dessert with nearly 12,000 stores across the world. The business empery of Starbucks has a widely accepted principle which is to value employees’ interest above everything. Starbucks implements a series of incentive plans, including offering medical insurance, establishing open and convenient communication channels and etc. The most successful policy is that employees can purchase shares of the company at discounts which makes each employee has the opportunity to become one of the shareholders of Starbucks. Starbucks pays a large amount of dividend to employees, despite the huge investment they make for the employees’ personal development programmes. Employees who enjoy these benefits feel gratitude and motivated, then devote themselves to business and develop an excellent customer service. Application and implications
Starbucks remains as a miracle in the commercial world. It is obvious that the practical and effective policies and measures implemented by Starbucks can be a perfect example for applying the principles of Maslow's hierarchy of needs. 5 levels of needs are divided according to Maslow’s theory.
1.Biological needs, also known as the lowest level, for food, water, sexual expression and other things which are essential for one to survive. Individuals’ basic physiological needs...