Option 1 Definitions of management

13-option
1.Motivation theory
Motivation theory is the study of understanding what drives a person to work towards a particular goal or outcome. It’s relevant to all of society but is especially important to business and management.That’s because a motivated employee is more productive, and a more productive employee is more profitable. Indeed, research has shown that happy, motivated employees can increase productivity by around 12%.There are numerous branches of motivation theory but at its simplest, it boils down to two factors:---Extrinsic factors. Here people are motivated by external factors such as a bonus for hard work or a sanction if targets are not met.---Intrinsic factors. Here people are motivated by a desire to satisfy human needs. These might include a desire to please their boss or to achieve certain professional or personal goals.Most people are motivated by a combination of extrinsic and intrinsic motivation factors. What tools do employers have to improve motivation?RewardA thoughtfully created employee rewards scheme can go a long way to motivating your team and increasing productivity. While there are number of common ways companies reward employees (Friday beers, staff lunch etc.) a rewards scheme is not a one-size fits all policy. Instead, think about what works best for your team specifically, make them inclusive and appropriately sized.TrustEmployees want to know you have their best interests at heart while employers want to know they can trust employees to do a job well. Building a culture around trust creates a positive atmosphere which motivates your staff and benefits productivity.Recognition It’s simple but recognising an employee’s hard work can have a tremendous impact. It can also spur them on to achieve more. Recognition can take many forms from an informal “thank you” or Kudos to a glitzier employee of the month or year award.Career advancementOne study found that the number one reason for employees leaving their jobs was career development. It makes sense - employees want to use their skills. They also want to learn new skills. If your company doesn’t offer a clear career development path, they may leave. Purpose Increasing numbers of employees want more from their jobs than a paycheque. Organisational purpose is a strong motivator for many workers – especially younger employees. Engaging your staff with your business’s purpose can help increase commitment to your business and improve motivation.Office environmentThe likelihood that someone is going to love their job 100% of the time is slim. There will always be the occasional down day where people simply won’t feel as capable to perform in their role. It’s just as important to motivate your team on a bad day as it is a good one. Feedback Everyone likes to hear that they’ve done a good job, but unfortunately not everyone is given the opportunity. The benefits of giving feedback to your team and employees are numerous, and improved motivation is one of them.