ENTREPRENEURSHIP DEVELOPMENT AND INDUSTRIAL CONSULTANCY DBM421 Introduction Motive refers to drive and motivation means drive to achieve a goal Motivation refers to the way in which urges drives desires aspirations and strivings or needs direct control or explain the behaviour of human ID: 927942
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MOTIVATION AND ENTREPRENEURSHIP DEVELOPMENT
ENTREPRENEURSHIP DEVELOPMENT AND INDUSTRIAL CONSULTANCY (
DBM-421)
Slide2IntroductionMotive refers to drive and motivation means drive to achieve a goal. Motivation refers to the way in which urges, drives, desires, aspirations, and strivings or needs direct, control or explain the behaviour of human beings.
Motivation is related with human behaviour. Motivation is a complex phenomenon. In general motivation is a psychological phenomenon as it is related to those factors operating within the individual employee which compel him to act or not to act in a certain way. These phenomena have been a subject of research by many people.
Slide3Characteristics of Motivation
1. Motivation is internal feeling of a person.
2. Motivation is a continuous
process.
3. Motivation varies with person and time.
4
. Motivation may be positive or negative
.
What motivates an entrepreneur to undertake risk and start new enterprise?
Is
it financial scarcity or financial abundance which motivates an individual to start an enterprise?
Is
it the family, social status or satisfaction from present life that motivates an entrepreneur to start a new
enterprise?
The
answer to such questions lies in the study of motivation
.
Motivational factors involve the inner urge within an individual. Due to such an urge an individual is motivated to do something new, unique and perform better than others.
Slide4What makes an entrepreneur?
Entrepreneurship
is associated with
personality.
Personality
development is closely associated with early childhood experiences.
Economic
deprivation also acts as a motivating
factor.
Family
environment plays an important role. In a family where security and non risk bearing situations are given importance, there are less chances of developing entrepreneurs, whereas family environments which foster venturing in to uncertain risky environment, tend to develop entrepreneurs.
Entrepreneurial
characteristics are results of combination of various social, economic and psychological factors which are developed right from childhood.
Slide5Motivation Theories
Motivation acts as key to enterprise effectiveness. Motivation is originated from the word motive. Motive means want, need, impulse or drive. Motivation is internal to person.
Motivation
is on going process and may be positive or negative.
There
are financial and non financial motivation techniques which can be used by entrepreneur for effective functioning of the enterprise. Incentives directly or indirectly related with money are referred to as financial motivations.
Money
acts as important and most effective source of motivation. Salary and wages, bonus, leave with pay, medical and housing facilities, profit sharing, vehicle allowance etc are some of the examples of financial motivators which should be used by the entrepreneur for the employees of the enterprise.
Non
financial motivators are psychological in nature. Status, respect, prestige, participation, job enrichment, recognition, safety of job, responsibility, etc are examples of non financial motivators.
Slide6Many motivation theories have evolved over the passage of time. These theories can be grouped as:
Content theories
Process theories
Theories related with human nature
Maslow’s need hierarch theory.
Herzberg two factor theory.
McClelland theory of achievement, affiliation and power.
Alderfer’s
theory of existence, relatedness and growth.
Vroom’s theory of valence and expectancy.
Porter and lower model of motivation.
Equity theory.
McGregor theory of X and Y.
Ouchi’s
theory Z.
Contingency approach.
Slide7Maslow’s of theoryIt holds that
Human
needs form a hierarchy ranging from lowest order of physiological need, security need, social need, esteem need to highest order need of self actualisation. The theory suggests that various levels are interdependent and overlapping.
Each
higher level need emerges before the lower level need is completely satisfied. As the need does not disappear when other emerges, all needs tend to be partially satisfied in each area. When the peak of a need is passed, that need does not work as a primary motivator. The next level need then begins to dominate. Even though a need is satisfied it still
influences
behaviour due to interdependent and overlapping characteristics of need.
Slide8Fredrick Herzberg and his associate Conducted
research study by administering survey questions to 200 engineers and accountants in nine different companies in the
Pittusberg
, U.S.A. Based upon analysis of the
information
Two
independent set of factors affecting human behaviour were found out
.
They are referred to as hygiene factors.
Another
set of factors are responsible for strong motivation and high job satisfaction. They are referred to as hygiene factors
.
Slide9Hygiene factors found out by Herzberg include:company
policy and
administration
technical supervision
interpersonal
relationship with
subordinates
salary
, job security, personal life, working conditions and status.
The
motivation factors found out by Herzberg
include:
achievement
Recognition
Advancement
work itself
possibility
of growth and responsibility.
The
suggestion of Herzberg is to keep hygiene factors constant or higher while increasing motivational factors.
Slide10Important guidelines for motivation
The enterprise must consider human resources as the most valuable resource from among all the resources and give them respectable and
honorable
treatments.
Good
quality working conditions should be maintained at the enterprise / factory place
Safety
and health should receive topmost priority.
Adequate
and fair salary structure should be provided to employees so as to maintain good standard of living.
Job
security and enough opportunities to rise ahead in their careers should be given to employees.
Superiors
should praise the subordinates when they deserve it.
Slide11Important guidelines for motivation
Adequate
tools and equipments should be provided to employees so as to perform their task effectively.
Proper
feedback system should be implemented so that subordinates can come to know about their strengths and weaknesses.
The
employees should be provided with opportunities to show their skills and creative instincts in work performance through giving them more freedom, encouraging their participation, implementing management by objectives and latest management concepts.
Principles
of natural justice should be followed in handling grievances of employees. Full freedom should be provided to employees to express their problem.
Adequate
training should be provided to the employees to develop skills and creative abilities of the employees.
Slide12Entrepreneurship Development Training Programme
Entrepreneurship development is one of the key elements for promotion of MSME sectors. To undertake this task on regular basis, the Ministry has set up three national level institutes. These
are
National
Institute of Micro, Small and Medium Enterprises,
Hyderabad
National
Institute of Entrepreneurship and small Business Development,
Noida
and
Indian
Institute of Entrepreneurship,
Guwahati
.
Entrepreneurs
, can avail the multi-faceted training programmes geared for entrepreneurship cult which are tailor-made for their individual needs and application within the country.
Various
training programmes are organized on regular basis to cultivate the latent qualities in youths by enlightening them on various aspects that are necessary to be considered while setting up micro or small enterprises
.
These
training programmes have attracted the attention of the educated unemployed youths and have created confidence in them which led to the self employment and creation of better employment.
Slide13The individual MSME-DIs conduct the following training programmes:a)
Industrial Motivation
Campaign
b
)
Entrepreneur Development Programme
c)
Entrepreneurship Skill Development Programme
d)
Management Development Programme
e)
Skill Development
f)
Business Skill Development Programme
Other Specialized programmes like Bio-technology, etc