Business Decision Making Essay Example | Topics and Well Written Essays - 750 words

Business Decision Making - Essay Example In principle, theory X is based on the view of workers as essentially lazy. The theory supports the notion that workers will seek all opportunities to avoid work or responsibility. The objective of any worker, according to this theory, is the obtaining of money that comes from his duties. This theory advocates for the use of threats and coercion in forcing the element of motivation within the workers. Motivation, in line with this theory is a consequence of fear arising out of the threat and coercion (Ramlall, 2004). On the other hand, theory Y bases its tenets on the view of humans as naturally progressive. The theory contends that humans will seek excellence, responsibility, and self-actualization if given the opportunity. The level of competence of any worker is dependent on the kind of incentives and the conducive nature of environment that supports the spirit of industriousness and enterprise. This theory holds the view that motivation will arise from the sum of incentives that aim at developing the skills and commitment of the worker in line with the specific duties in which he engages. This theory promotes a closer cooperation between the workers and management in ways that eliminate friction and misunderstanding between the two categories. It also includes aspects of human resource development through such processes as training and the engagement in certain activities as rewards and promotion to spur the interest of the workers towards the pursuit of excellence. The Goal Setting theory of motivation developed by Edwin Locke in the 1960s is another key theory that attracts the interest of management scholars in many fields of business and management (Simone & Patricia, 2008). According to this theory, the aspect of motivation is driven by the pursuit of some specific goals. The worker will often engage his skills, effort, and energy to levels that are consistent with the nature of the goal. The theory proposes that the goals have to be clear and precise in order to engage the interest and motivation of the worker. Vague and ambiguous goals, according to this theory, will not achieve the aspect of motivation that is necessary for the pursuit of the desired ends of a given process. This theory also opposes the setting of easy goals will diminish the efforts of the worker as they can be achieved without the input of much effort (Simone & Patricia, 2008). The goal-setting theory is usually dependent on the aspect of human character. According to the proponents of the theory, human beings love challenges and would seek opportunities of self-actualization and a sense of accomplishment through the pursuit of challenges as defined in specific goals. Achieving a given goal often results in feelings of confidence in the worker while failure to achieve the goals may result in feelings of inadequacy leading to effort increment or change of strategy. In essence, this theory promotes the actualization of the latent potentials in individuals by s ubjecting them to challenges that expose their inner strengths and hidden capabilities. Humans, according to this theory will often adjust their levels of commitment and effort in line with the nature of challenges placed before them. Self-Determination theory of motivation relates to the psychological impetus in human beings to seek ways