Management Issues Most Relevant Motivational Theory

Management Issues Most Relevant Motivational Theory Introduction Most employees consider the level of payment and the workplace conditions before accepting a particular employment position in a company. Once they are employed, there is little improvement in their productivity. Different workers will respond positively to different motivational factors depending on which level in the hierarchy of needs they value most.Advertising We will write a custom essay sample on Management Issues: Most Relevant Motivational Theory specifically for you for only $16.05 $11/page Learn More Workers in lower ranks may still be struggling to satisfy their physiological needs and thus a pay rise would motivate them. Job contracts have been used in modern times whereby an employee is paid according to his output. This is limited because some contract jobs require team work. It can only work for workers with certain levels of wage rates. To a majority of workers, the most effective motivational factor may fall under the considera tion of social needs and sense of belonging. Motivational factors Among the three factors which are job enlargement, job enrichment, and empowerment, I consider empowerment as the most effective motivational factor. This is because it can be used to motivate a wide range of workers from different job levels and departments. Employees are able to plan their work according to what they consider the most important procedure. This gives employees a sense of belonging, and motivates innovation. Empowerment also assures those who are shaping their careers of accumulating experience. Productivity will improve because the workers minds are open. They can lay procedures in ways they consider most efficient because they are the ones in the actual workplace. The management can wait for the final product to check performance. Management can count the number of products and test their quality. Employees are able to build a reputation of good performance which before was taken only by the top man agers. I consider self actualization as the most important aspect of motivational theories. This is because it combines the effects of other factors such as the recognition of effort and performance. It also gives opportunity for promotion and improvement.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Attributes of this generation This generation exists in a time when productivity is high because of technological advancement, and the low number of employees used per unit. In a developed country, the cost of living is high but a majority of workers are able to afford their physiological needs without much strain. It is also good to note that any job will serve the basic needs first. However, the middle level groups no longer view their basic needs as threatened. They prefer a workplace that gives them a sense of responsibility by allowing them to act rationally as masters of thei r working space. Modern employees despise close supervision. This generation believes in building a career that lasts through ones lifetime. They expect to move from a low ranking employee position to the top management. They expect wage rates to increase as one goes up the rank of his/her profession not only by increasing productivity but also by increased responsibility. Conclusion Self actualization is the most effective aspect of motivation in today’s generation. This is because it combines a majority of considerations like career development and recognition. The productivity of modern economies relies in the middle class groups who no longer feel threatened about their physiological needs. However, employees would also consider what competitors offer in comparison to their workplace.

Econometrics Research Topic Ideas

Econometrics Research Topic Ideas One of the most difficult things about being an undergraduate student  in economics is that most schools require that students write an econometrics paper at some point in their studies. Econometrics is essentially the application of statistical and mathematical theories and perhaps some computer science to economic data. The objective is to develop empirical evidence for economics hypotheses and to predict future trends by testing economics models through statistical trials. Econometrics assists economists in analyzing large sets of data to unveil meaningful relationships among them. For instance, an econometrics scholar might attempt to find statistical evidence for answers to real-world economics questions like, does increased education spending lead to higher economic growth? with the help of econometrics methods. The Difficulty Behind Econometrics Projects While certainly important to the subject of economics, many students (and particularly those who do not particularly enjoy statistics)  find econometrics a necessary evil in their education. So when the moment arrives to find an econometrics research topic for a university term paper or project, they are at a loss. In my time as an economics professor, I have seen students  spend 90% of their time simply trying to come up with an econometrics research topic and then searching for the necessary data. But these steps need not be such a challenge. Econometrics Research Topic Ideas When it comes to your next econometrics  project, I have you covered. Ive come up with a few ideas for suitable undergraduate econometrics term papers and projects. All the data you will need to get started on your project is included, though you may choose to supplement with additional data. The data is available for download in Microsoft Excel format, but it can easily be converted to whatever format your course requires you to use. Here are two econometrics research topic ideas to consider. Within these links are paper topic prompts, research resources, important questions to consider, and data sets to work with. Okuns Law Use your econometrics term paper to test Okuns Law in the United States. Okuns Law is named for American economist Arthur Melvin Okun, who was the first to propose the existence of the relationship back in 1962. The relationship described by Okuns Law is between that of a countrys unemployment rate and that countrys production or gross national product (GNP). Spending on Imports and Disposable Income Use your econometrics term paper as an opportunity to answer questions about American spending behaviors. As incomes rise, how do households spend their new wealth and disposable income? Do they spend it on imported goods or domestic goods?