4.3 - Motivation

Question 1

D. motivation

Answer 1

The range of factors that influence people to behave in certain ways

Question 2

Types of compensation

Answer 2

• Salary: income recieved by an employee anually. Not required to work a set number of hours per week
• Commission: payment to employee based on sales made, usually in addition to a wage/salary
• profit-sharing: a share of the profits made by companies given with salaries/wages

Question 3

Non-financial methods of motivation

Answer 3

• Training: shows business values to employees and raises self-esteem
• Responsibility: if people feel responsible for business activities, they will care more and work hardr
• fringe benefits: health insurance, company car, product discounts

Question 4

Types of leadership

Answer 4

• Autocratic: one leader, bears all responsibility and decision making. Others have no say in business operation. May result in unmotivated employees
• Democracy: employees have a say over how business operates
• Paternalistic: one leader, who still listens to and respects the workers under them
• Laissez-faire: a complete free-for-all

Question 5

Benefits of employee retention

Answer 5

• less money/time wasted on training
• better reputation
  -better customer relations