Importance of motivation

-For individuals:

Helps to achieve personal goals;

Allows to have job satisfaction;

Helps in self development;

Individual would always gain by working with a dynamic team.

-For business :

The more motivate employees are ,the more empowered the team is;

More is the team work and individual employee contribution, more profitable and successful is the business;

During the period of amendments there will be more adaptability and creativity;

Leads to an optimistic and challenging attitude at work place.

2. Features of use of different motivation models in the management of foreign economic activity.

Need-based theories - focus on an employee’s drive to satisfy a variety of needs through their work. These needs range from basic physiological needs for survival to higher psycho emotional needs like belonging and self-actualization.

Maslow’s theory

Self-

actualization

Esteem

Love/belonging

Safety

Psychological

At the most basic level, and employee is motivated to work in order to satisfy basic physiological needs for survival, such as having enough money to purchase food. The next level of need in the hierarchy is safety, which could be interpreted to mean adequate housing or living in a safe neighborhood. The next three levels in Maslow's theory relate to intellectual and psycho-emotional needs: love and belonging, esteem. The highest order need, self- actualization.

Atkinson & McClelland’s Need for Achievement Theory

Achievement motivation can be broken down no three types:

Achievement - seeks position advancement, feedback, and sense of accomplishment

Authority - need to lead, make an impact and be heard by others

Affiliation - need for friendly social interactions and to be liked.

Cognitive process theories - explains motivation in the workplace as a cognitive process of evaluation, whereby the employee seeks to achieve a balance between inputs or efforts in the workplace and the incomes or rewards received or anticipated.

There are three fairness perceptions applied to organizational settings:

Distributive justice - the perception of equality of an individual’s outcomes;

Procedural justice - the fairness of the procedure used to determine one’s outcomes;

Interactional justice - the perception that one has been treated fairly with dignity and respect.

Expectancy theory - based on statement that employee will work smarter and/or harder if he believes his additional efforts will lead to valued rewards

Social cognitive theory - offers the important concept of self-efficacy (belief in one’s capabilities achieve a goal) for explaining employee’s level motivation relative to workplace tasks or goals.

The behavioral approach to workplace motivation is known as Organizational behavioral modification This approach applies the tenets of behaviorism developed by B.F. Skinner to promote employee behaviors that an employer deems beneficial a discourage those that are not.

Herzberg’s motivator-hygiene theory holds t the content of a person’s job is the primary source motivation:

Money and other compensation aren’t considered as the most effective form of motivation of employee;

Pay, job security, status, working conditions, fringe benefits, job policies and relations with co-workers could only reduce employee dissatisfaction;

Level of challenge, the work itself, responsibility, recognition, advancement, intrinsic interest, autonomy, and opportunities for creativity however , could stimulate satisfaction within the employee, provide that minimum levels of the hygiene factors were reached.

Job characteristics theory - an organization that provides sufficient levels of skill variety, task identity, and task significance to its employees will, in turn, provide experienced meaningfulness.

Self-regulation theory - is presumed that people consciously set goals for themselves that guide and direct behavior toward the attainment of these goals. These people also engage in self-monitoring or self-evaluation.

3. Means and methods of influence on employees activity in management of foreign economic activity

Extrinsic rewards

Money - of for of pay, bonuses, stock options ect;

Benefits - also in many different forms, including health insurance, vacation, leave, retirement accounts, etc. increasingly benefits are offered under some form of cafeteria plans, allowing employees flexibility in what can be selected and in the management of their own benefit package;

Flexible schedule; Promotion; Change in status; Supervision of others;

Praise and feedback; A good boss; A nurturing organizational culture.

Intrinsic rewards:

Healthy relationships - in which employees are able to develop a sense of connection with others in the workplace;

Meaningful work - where employees feel that they make a difference in people’s lives;

Competence - where employees are encourages to develop skills that enable them to perform at or above standards, preferably the latter;

Choice - where employees are encourage, participate in the organization in various such as by expressing their views and opinion sharing in decision making, and finding other to facilitate participatory approaches to problem solving, goal setting etc;

Progress - where managers find ways to employees accountable, facilitate their ability make headway towards completing their assigned tasks, and celebrate when progress is made to completing important milestones within a project.

Theme 4. The process of management of foreign economic activity