Business First Goal Is To Be Profitable Commerce Essay

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Although, a business's first goal is to be profitable, there are important aspects that help to ensure that a business can reach this goal. Motivation can be seen as an important part to the success of every business. Motivation is defined as the activation or energy of goal oriented behavior. Motivation is said to be intrinsic or extrinsic. The following company is one that uses motivation to enhance their business and has helped them to become one of the most successful companies today. Furthermore, when you think of Best Buy you can clearly see that they use motivation to help enhance their business while boosting employees morale.

Best Buy uses motivation techniques that have led to a winning environment for them. According to Ron Friedman, "Motivation plays a key role in achieving goals and business objectives and is equally as important for companies that work in a team based environment". This statement is important for Best Buy's image because their business is based around a team environment, which when done properly, creates a synergy that helps Best Buy to succeed. . Ron Friedman also did an experiment that tested the motivational synchronicity hypothesis. According to Friedman this experiment was of a target person's behavior of intrinsic or an extrinsic motivational orientation. The experiment revealed that the people exposed to a target person intrinsically are motivated to perform a task however those exposed to an extrinsically motivated target person showed greater intrinsic motivation or free choice for the same task. Basically the study concluded that simply observing motivational orientations helps influence others.

Although, there are many types of motivations according the American Physiological Association one motivation that is important is Achievement Motivation which is defined as behavior directed at developing or demonstrating high rather than low ability. This motivation can be conceived either with the individuals own past performance or knowledge. For an individual to demonstrate high capacity this individual must achieve more with equal effort or use less effort than the others for an equal performance of motivation. An article written by Eddie Davis, titled "Motivation and Practice Training," states that to achieve success in motivation, managers must be able to relay their efforts through other individuals. In the study, participants were asked to define what is meant by motivation and identify some of the common pitfalls in motivation. Next they set up a game that was played in syndicate groups. The game was designed to test the participant's knowledge on motivation theories and the key theorist with whom is each connected. This type of training was intended for trainers to introduce participants to motivational theories and to help them appreciate the links between different approaches. The end result is a more successful employee who has expanded their knowledge in motivation. This type of motivational learning helps the company realize more success through their business endeavors.

Another type of theory is the Process Theory of motivation. The process theory of motivation provides an opportunity to understand thought processes that influence behavior. The process theory of motivation includes Adam's Equity Theory, which states a balance needs to be struck through employee's inputs and an employee's outputs. According to this theory, finding the balance helps to ensure a strong and productive relationship with the employee with the overall result being a more motivated employee. This motivation theory was developed by John Stacey Adams in 1963. The Adams Equity theory looks at different factors that affect an employee's assessment with the relationship between employee and employer. Another good theory for motivation is the Vroom's Expectancy Theory which states; in order for a person to be motivated, the effort, performance, and motivation must be linked. This theory was developed by Victor Vroom a professor at Yale. Unlike Maslow and Herzberg that look at the relationship between internal needs and the resulting effort to fulfill them, the Vroom separates effort, performance, and outcome.

Another important theory is the Minimum Group Theory. This theory states that even when people are arbitrarily assigned to unimportant group categories, they will still act in classic ways towards in-group and out-group people. A good example of this would be people in a crowded room will silently act together to discourage additional people from entering the room that is already crowded. The research on this theory was done by Tajfel randomly allocated to schoolboys to groups who 'preferred' paintings by Klee or Kandinsky. When asked to allocate points, they were biased toward their own group. According to Tajfel to use this theory you need to find a minor point of similarity with the other person and put yourself and the other person in it, with rivals in outside. Talk about 'us and them. Also according to Tajfel to defend this theory you need to decide on who your friends are by substantial and sustained evidence, not sudden chumminess and belonging to a common and unimportant category.

Another important theory would be Over Justification Effect Theory which states that this occurs where I attribute my behavior more to a conspicuous extrinsic motivator than to intrinsic reasons. This effect is less when rewards are given for performance success rather than simply completing tasks, which can still be significant. The research on this theory was done by Greene, Sternberg and Lepper who played mathematical games with schoolchildren. After a while, they started giving rewards for success. When they took away the rewards, the children quickly gave up playing the games. So they concluded that the children were only playing the game so that they could collect the reward. According to this theory if you want someone to really buy into something, do not use big extrinsic rewards. It also states that you need to beware of short-cuts in thinking. Understand when someone rewards you what your real motivation is. Even notice the effects of emotional rewards like smiling and congratulations.

Another theory is the Overconfidence Barrier Theory which states we tend to have too much confidence in the accuracy of our own judgments. As we find out more about a situation, the accuracy of our judgments may well not increase, but our confidence will, as we equate quantity with quality. Confidence also tends to increase if we are given incentives to perform well. Overconfidence is greatest when accuracy is near chance levels, and reduces as accuracy increases from 50% to 80%. Once accuracy exceeds 80%, people become under-confident. The research was done by Fischhoff, Slovic and Lichtenstein. They gave subjects a general knowledge test and then asked them how sure they were of their answer. Subjects reported being 100% sure when they were actually only 70%-80% correct. According to the researchers to use this theory you need to ask the other person something they don't know about. Then use their over-confidence. Or take something they know and lever the seeds of doubt as to the absolute accuracy. The researchers also not that to defend this theory you need to know when making a judgment, stop to consider the reasons why you may be wrong. Before long, you confidence will more closely match the accuracy of your decisions.

Another theory is the Mumford's Need Theory which was developed my Mumford in 1976. This theory assumes that employees did not simply see their job as a means to an end by had needs which related to the nature of their work. There are four things connected to this theory and they are knowledge needs (work that utilizes their knowledge and skills), psychological needs (Recognition, responsibility, status, and advancement), task needs (Which include the need for meaningful work), and moral needs (To be treated in the way that employers would themselves wish to be treated).

Although many businesses recognize motivation as a key to success one company places a strong emphasis in this area, and that is Best Buy. Best Buy uses recognition through corporate culture, by reinforcing recognition daily through different programs so that people are continuously receiving positive reinforcements for their contributions. By doing this it has a huge impact on what they are trying to achieve on a daily basis. Best Buy also offers a great incentive for motivation, and that is that employees can chose to play their favorite team event. This helps to motivate and create happy employees. The other important reward process they offer is teamwork desktop frame print. They chose the desktop frame print because it is visible and symbolic to the employee. The great thing about Best Buy is they chose a new image for each project.

The first theory that Best Buy uses for motivation is achievement motivation. Achievement motivation includes the need for achievement and the fear for failure. Best Buy incorporates this in their business by motivating one another through realistic goals that can be achieved. Best Buy realizes that failure is a part of the job however it is through achievement motivation that employees learn from their mistakes and make the necessary adjustments so that they can achieve their goals through motivation from one another. By using achievement motivation Best Buy can ensure that all employees feel motivated in a working environment that at times poses many challenges. Management at Best Buy ensures that all employees achieve their goal through achievement motivation by ensuring their attitudes are task involvement and ego involvement. Task involvement is important to achievement motivation process because it helps a person reach their main goal which is skill and understanding. This is important for Best Buy employees because they are dealing with customers on a daily basis. Ego involvement of motivational goals is important to Best Buy employees because it demonstrates superior abilities which are what management expects from their employees. Ultimately, achievement motivation has many different forms to it which is why Best Buy uses it to motivate their employees to realize their full potential.

Process theory motivation relates to Best Buy by using opportunity to understand thought processes that influence behavior. Best Buy management uses this type of theory best because they realize that there are situations employees cannot handle therefore; it is management's job to provide an explanation for how something happened and they also could explain why this situation happed.

The Adams Equity theory relates to Best Buy by going through employee's inputs and an employee's outputs. This theory is important to Best Buy because it helps to recognize the relationship between the employee and the employer. For example, Best Buy makes it simple for employees to seek the help of management and the company therefore; building a relationship on trust. This theory helps Best Buy relate to fair value treatment which in turn creates motivation and fairness between other employees. This is important because a happy employee is a motivated employee.

Best Buy puts Vroom's expectancy theory to work in order to stay dominant in the consumer electronics market. There are very strong and capable competitors who pose a threat to overtaking Best Buy's place as holding the largest share of the consumer electronics market. In order to maintain their position, members of the Best Buy organization are thoroughly trained about the items they are selling and are motivated to a high level of expectancy. This allows Managers to boost salespeople's expectancy to sell, and the members to maximize their ability to sale while seeing themselves performing highly. "By increasing expectancy for being able to sell consumer electronics, best buy hopes to maintain its dominant position and distinguish itself from its competitors."

Minimum Group Theory

Over Justification Effect Theory

Overconfidence Barrier Theory

Mumford's Need Theory