Motivation in Business

 Whenever you are reading my blog, you might see these 3 words:  Motivation, Law, & Business.

In  this post, I discuss the laws and principles regarding motivation in the business world

There are several laws and principles that pertain to motivation in the business context, including:  the self-determination theory, the expectancy theory, the equity theory, the goal-setting theory, and the Maslow’s Hierarchy of Needs.

The Self-Determination Theory, which states that individuals have innate psychological needs for autonomy, competence, and relatedness, and that fulfilling these needs leads to greater motivation and well-being. Especially in America, there is a significant thought process for these. These can be helpful in business world as not too many people can operate without these motivations.

The Expectancy Theory, which posits that individuals are motivated by the belief that their effort will lead to high performance, which will in turn lead to desired outcomes, such as rewards.  These are some of my personal favorites. As I truly believe that the more you accomplish, the more you will succeed.

The Equity Theory, which suggests that individuals are motivated by a sense of fairness and justice in the workplace, and will adjust their efforts and outcomes accordingly. Even though this isn’t always the case. It is a nice thought to make sure to operate fairly in the workplace.

The Goal-Setting Theory, which states that specific and challenging goals, along with feedback and support, can lead to higher levels of motivation and performance.  Each one of these theories are important. You have to make sure to set goals.

The Maslow's Hierarchy of Needs, which suggests that individuals are motivated by fulfilling basic physiological and safety needs before moving on to higher-order needs such as self-actualization.  Everyone has debated the true needs here. But, it is important to know that there are specific needs for anyone in business.

*Always consult a lawyer for more information.

 

~ Attorney Ronnie O’Brien Rice  

 

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