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

Global Economy and Politics Essay Example | Topics and Well Written Essays - 1500 words

Global Economy and Politics - Essay Example Internet selling through websites and portals has broken all limits and definition of a domiciled corporation. Now corporations are not only selling to foreign nationals over the internet but are also actually relocating their production facilities in search of overseas markets. Since 1990s the concept of globalization has brought in revolution in the manner we trade internationally. However this new global economy has redefined the political equations in the globe and is continuing to do so with changing balance of economic power. This paper essentially examines this phenomenon. The globalization aligned attitudes of IMF and World Bank are exemplified with clarity by Jean-Claude Trichet, President of the European Central Bank, when he says that," The key aim of today's policy makers has not changed compared to those at the Bretton Woods times - it has been, and still is, global prosperity and stability - but the environment in which we are acting has changed profoundly......Today we are striving for stability of the international financial system in a world of free capital flows with a growing importance of private flows and increasing trade and financial integration"(Trichet, 2004). Devetak and Higgott explain how globalization has brought about a weakening of an intra national social bond. They further posit that ongoing process of globalization causes constant disruption in existing social bond. It is their view that "under conditions of globalization, assumptions made about the social bond are changing; .... the article concludes that the prospects for a satisfactory synthesis of a liberal economic theory of globalization, a normative political theory of the global public domain, and a new social bond are remote"(Devetak & Higgott 1999). As Roby says," world-wide output and trade have grown apace with market openings and the rise of efficient global business networks these past 15 years. An entrepreneurial class is energizing once-stagnant command economies" (Roby, 2005). It is at once apparent that this 'entrepreneurial class' is essentially limited in number the globe over and its population effectively determines the contours of globalization. This entrepreneurial class is in fact dictating the world polity as well. Major changes in the global eco-political map Dismantling of communist political regimes in the erstwhile iron curtain countries was the foremost change to occur as globalization, as explained above, ran concurrently. This worked to open huge markets of emerging economies for the multinational corporations of West. Second major development was comprised in strengthening of regional economic and trading blocks. Whether it was the European Union (EU)or NAFTA or ASEAN al such trading blocks rationalized and redefined heir duties and strengths to present combined large markets that were ready to respond to new paradigms of international trade set in place by globalization. Quick illustrations would reveal the changed face of the globe. Take the episode of China's accession to WTO.Nobody could have imagined till two decades back that China would make such a move and be agreeable to WTO prescriptions to open its trade contours. Now China has emerged as one of the foremost economies which has benefited from globalization immensely. Ch ina has emerged as a new eco-political power ,on the one hand ,and EU is making another