Business management
Principals of management are essentials organizations and plans put in place to control the operations of the business companies. In business, the managers have to understand their role and work smartly toward the company’s goals. Nobody should take the work for granted, and this is because something simple can become harder and more complex than what they rather expect. Employees have to work hard to get their thinking clean so that they make it simple. By understanding the managing principal of the company, the excellence of the industry becomes a habit.
Principles of Functioning Management
According to Jamnik (2017), principles of management are needed in any operation to achieve the targets of the business company.some of the functioning principles are:
1). planning, a business cannot perform well when proper plans have not been put into consideration. Managers need to set realistic goals for the company for great achievements.
2.) organizing, workers, and their roles should be appropriately organized and work as a unit to accomplish their goals.
3).leading, this critical function involves having a clear vision, motivating the employees, inspiring them, and energizing them to meet the set vision. Together with excellent communication skills, functional persuasive language, positive influence to others leads the organization to achieve its goals.
4). staffing, managers need to recruit passionate, goal-oriented, and hardworking staff for a better future of the goal-oriented organization.
5). to control this process involves evaluating direction towards achieving the set goals. Healthy competition with other organizations reflects the effort of the organization toward the achievement.
Q1. Motivation and Motivation Theory
Motivation refers to a psychological process that makes a person or a group of people work towards the set goal. Fiaz et al (2017) postulated that by applying the four types of motivation which are, extrinsic motivation, intrinsic motivation, introjected motivation, and identified motivation, the individual or persons could achieve their goals quickly.
1.1 Theories of motivation
Different types of theories have been put in place by the researchers to explain people’s needs in their daily working environment. Some of the arguments put forward are; Maslow’s hierarchy of needs theory, Herzberg’s two-factor theory, and McClelland’s acquired-needs theory.
1.1.1 Maslow’s hierarchy of needs
One of the most successful psychologists, Abraham Maslow, explained the theory basing what people need. The needs range from primary needs to secondary and tertiary needs. The fundamental requirements are those that individuals cannot do without; secondary needs are those that the person can do without, and lastly, tertiary needs are those that a person needs for comfort. According to Maslow’s theory, the following shows the order of need a person strives to achieve.
Physiological needs- these are the needs that a person needs most for daily living. These needs are food, water, and clothing. A person cannot survive without these needs because they are required to live. For instance, a hungry person is directed to strive to work hard to satisfy hunger, cloth for protection, and water for life and thirst.
Safety needs –this is only satisfied when the basic needs have been accomplished. A person tends to look for safety needs, such as love, to avoid danger, pain, or an uncertain future.
Social needs- these refer to attaching oneself to others to feel loved. By connecting to people around, it creates a sense of friendly environment to share ideas and information.
Esteem needs –these are needs that one needs after satisfying social needs. A person needs to be recognized by others and feel important and appreciated.
Self-actualization- this is the last level that one needs after accomplishing esteem needs. This refers to one becoming what he or she wants to be in life or achieving the desired goals.
1.1.2 two factor theory
Frederick Herzberg stated that the aspect of the work environment dictates how the employees get motivated to work. These factors are a hygiene environment and motivators. The hygiene factors include healthy supervision, favorable policies, working conditions, employee’s income, and safety at the job. Contrary, motivators are intrinsic factors that encourage employees to work harder. Such factors are achievements aimed by workers, recognition of their efforts, exciting work is done, increased responsibilities, giving advancements to employees, and finally spotting other opportunities in the organization.
1.1.3 acquired needs theory.
The theory states that individual works hard to achieves three needs, need for achievement, need for affiliation, and need for power. The need for achievement is in every man’s mind for better performance, and therefore, good managers need this for the organization’s success. Secondly, the need for affiliation important in any organization or a person because it brings unity and social among the workers. The interaction amongst people, the company, contributes to the organization’s success as they share ideas and skills in handling various tasks. Lastly, the need for power for which many strives to get here so that they can influence others and have control over their environment. Many people fail to use force to control others because they do not have the necessary skills to lead. Those managers that have adequate knowledge and skills to lead others have a positive impact on the organization’s performance and achiev
ement.
1.2 Needs motivate employees.
Employees in the business are motivated in various ways to work harder to achieve the organization’s goals. Managers ensure that employees get excited in their line of duty. Borrowing the idea from the idea of Maslow’s theory, managers understand that individual growth is an opportunity and key to employing in business for an organization’s success.
1.basic needs. Managers have to need to ensure that employees get their payment in time so that they can satisfy food, water, and clothing. This will make employees work without the need to be supervised all time.
- security needs. The organization should take responsibility that workers are competent in psychology, relationships with others, and movements. When workers feel safe in their working environment, there will be a sound work output.
3.Social needs. For employees to be motivated at work, they need to socialize with their colleges from which they learn and acquire new skills. Through this, the organization will experience better performance.
4.self esteem. When an organization offers reasonable terms, the employees feel motivated to work towards their self-esteem goals. Through this, the organization will be able to achieve its goals.
5.self actualization. Employees strive to work hard to achieve self-actualization goal. Managers motivate them to work hard through sound leadership, excellent communication skills, and rewarding work.
A good reward is not just good enough to motivate employees. They feel better when they are also given a chance to participate in official meetings as they will feel free to provide the best ideas to improve production. Promoting them to the top seat, involving them to handle some problems is the best way to win their trust, and they will work hard and smart.
Some of the factors that affect employees’ motivation are peer relationships, working environment, family issues. Healthy peer relationships, working environment, and family yield the best result for the company since employees feel healthy and have no stress. When all these are negatively affecting the employees, the organization is at risk of failing.
Q2. Incentives Used to Influence Employees Behavior
Incentives like employees stock options, sharing profit, paid time off, cash reward, and bonuses much motivate employees at work. When you want to encourage employees using compensation, pay them the salary portion of their payment,pay them an incentive portion of their benefit when they meet their goals (Laundry et al. 2017). Also, rewarding them for every achievement they meet as this will motivate them to work hard.
Q3 Importance of Group Identification to Individual Motivation
According to Hoggand Mahajan (2018), a well planned and adequately structured group project in the business is relevant to individuals’ skills and group effort. Through this, intricate work can quickly be acted upon easily, improve time management, yield better understanding, and developing excellent communication skills. Some individuals will tend to differ, but on proper decision making together as a group, each having a better understanding of his role, there will be no misunderstanding among the workers. Other factors that will enable teamwork are contribution, commitment, cooperation conflict management, and change in control.
Q4 Fashbach Models of Motivation
Fischbach emphasized three main strategies to increase motivation to the employees. The three give feedback to employees in time, set goal targets at every set time, and provide incentives to employees when they make some achievements.
Q5. Strategies that Motivates Teamwork
Any business organization needs to have strategic plans to motivate its employees to work hard toward its goals.
- These are paying employees in time for what they worth.
- Proving a positive and pleasant environment to work with
- Giving employees opportunities to develop themselves and their families
- Provide a happy environment amongst workers.
- Have a clear goal for the business that employees understand it in depth.
To sum up, business organizations are encouraged to have strategic ways of operation to achieve their goals. Managers with excellent communication skills, goal-oriented, and able to motivate employees are best for any competitive company. Teamwork is also one of the best ways for the performance of the organization.
References
Jamnik, A. (2017). The challenges of business ethics: The basic principles of business ethics-
ethical codex in business. Review of Innovation and Competitiveness: A Journal of Economic and Social Research, 3(3), 85-100. https://hrcak.srce.hr/187211
Fiaz, M., Su, Q., & Saqib, A. (2017). Leadership styles and employees’ motivation: Perspective
from an emerging economy. The Journal of Developing Areas, 51(4), 143-156. https://muse.jhu.edu/article/662834/summary
Landry, Anaïs Thibault, Marylène Gagné, Jacques Forest, Sylvie Guerrero, Michel Séguin, and
Konstantinos Papachristopoulos. “The relation between financial incentives, motivation, and performance.” Journal of personnel Psychology (2017). https://econtent.hogrefe.com/doi/abs/10.1027/1866-5888/a000182?journalCode=pps
Hogg, M. A., & Mahajan, N. (2018). Domains of self‐uncertainty and their relationship to group
identification. Journal of Theoretical Social Psychology, 2(3), 67-75. https://onlinelibrary.wiley.com/doi/abs/10.1002/jts5.20