Motivation Business Studies

What is a fringe benefit?

• Non-financial

• Benefits related to the job description

• Benefits on top of a salary or wage

• It costs a lot of money and is not common

Motivation is

• the art of persuading people to do something

• the drive to do something

• leading people to do better

An advantage of profit sharing

• Motivates workers and improves efficiency

• It only has to be given at the end of the year

• Managers are happy to keep employees motivated

• There is not an advantage

Advantage to few employees leaving next year?

• Employees do not have to say goodbye

• there is no advantage - new employees means new ideas

• They might steal information

• saves time and money (Recruitment)

Non-financial methods include

• Praise and recognition

• salary and commission

• Job rotation, Job Enlargement

• Company car and cell phone

What financial methods motivates employees to hit targets?

• Salary

• Performance related pay

• Employees having company car

• Time rate

This motivational theorist is considered scientific and believes money is the only motivator

• Herzgerg

• Maslow

• Taylor

• Mcclaren

What is the correct definition for wage?

• An annual amount usually divided into 12 monthly payments

• Pay distributed weekly or daily, calculated using no. of hours worked

• A lump sum given on the completion of a specific task

• A percentage of sales made over a given time period

What is the correct definition for 'Commission'?

• Monthly pay, same amount despite the number of hours worked

• Staff are paid for the number of items produced

• Staff are paid a percentage value of items sold

• A payment for producing quality goods

How can commission incentivize workers?

• They will be jealous of colleagues

• They will get a share of the profits

• The more they sell the more they earn

• They will pay less tax