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“The key to a successful firm is a well motivated workforce”

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Introduction

"The key to a successful firm is a well motivated workforce". To what extent is this true? A well motivated staff is one of the main features to a successful firm. A successful business can be classified as one that is gaining profit and is satisfying the external (customers community and creditors etc) and internal (shareholders, employees managers etc) people. Motivation is about how keen and committed a person is in performing a task or job. Motivated staff usually means higher productivity. People can be motivated in various ways. Three people had a theory on motivation and how it could be achieved. Maslow's Hierarchy of needs - He believed that the same things motivated everyone. There were five needs that he thought had to be accomplished. The five needs were: > Physical survival > Safety > Love and belonging. > Self-esteem > Self-actualisation All these aspects motivate workers. If they feel comfortable and required, they have the initiative to work harder. ...read more.

Middle

Both are correct in several ways. A motivated work force is vital in some business such as a travel agent who comes into contact with people everyday. If they were not stimulated to communicate and explain to customers', sales could fall. Customers would identify that firm as unreliable or inhospitable. This would not be a good label for a firm to be associated as. In this sort of job where employees are expected to do the same task continuously, job rotation would be a good way to motivate them. The employees would gain more skills. Therefore when another member of staff was unavailable someone else could take over, this would give them more responsibility and happier knowing they can be dependable to do an extra job. In factories, it is important to have an enthusiastic staff because the job is generally very repetitive. Therefore, job enrichment could help to motivate staff. ...read more.

Conclusion

Therefore, it is obvious that money is a vital thing in a successful business. Another factor is if the firm may not have a good product. People may not want to purchase it. A firm can be wealthy with a motivated staff however if there is not a consumer group who desire a product like the one they are selling the firm will not be successful. If a firm does not make profit, it cannot survive. A company has numerous overheads that are required to be paid whether or not the product sells or doesn't. This includes rent, insurance etc. A firm needs to discover their customers' needs before manufacturing goods. Customers are necessary for a business to exist now a day because there is such vast competition. It is clear that although a motivated workforce does assist a successful business, there are many other areas that need to be looked at. It is important that firms have finance, good machinery, customers, a decent product and a market for the product. In some trades motivation is crucial, nevertheless not in all cases. ...read more.

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