In: Economics
Chapter 6 describes four theories of motivation:
1. hierarchy-of-needs theory
2. two-factor theory
3. expectancy theory
4. equity theory
Briefly describe each theory. Which one makes the most intuitive sense to you? Give an example of this theory in your life.
Why do you find this motivation theory appealing?
1. hierarchy of needs
Explanation: Maslow's hierarchy of needs is a motivational theory in psychology comprising a five-tier model of human needs,often depicted as hierarchy level within a pyramid. From the bottom of the hierarchy upwards,the needs are: physiological,safety,love and belonging,esteem, and self-actualization.
2. Two-factor theory
Explanation: The two-factor theory states that there are certain factors in the workplace that cause job satisfaction while a separate set of factor cause dissatisfaction, all of which act independently of each other. it was developed by psychologist Frederick Herzberg.
3. Expectancy theory
Explanation: Expectancy theory proposes that an individual will behave or act in a certain way because they are motivated to select a specific behavior over others due to what they expect the result of that selected behavior will be.
4. Equity theory
Explanation: Equity theory,popularly known as Adam's equity theory,aims to strike a balance between an emplyee's input and output in a workplace.If the emplyee is able to find his or her right balance it would lead to a more productive relationship with the management