Entrepreneurial Motivation

Date : 9.5.2020
Sub  : Entrepreneurship
Day  : 5
Time : 7.30am -8.10am and 12:20pm-1pm
Period : 1 and 7
Class    : 11

Learning Outcome

• Meaning of Motivation
• Meaning of Entrepreneurial Motivation
• Process of Motivation
• Maslow's hierarchy of needs
• McClelland's theory of needs

A very good morning students

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Let us begin our new topic in the 2nd chapter after Entrepreneurial Attitudes

Today we will be learning the Entrepreneurial Motivation

Introduction To Motivation

The word ‘motivation’ comes from the Latin root ‘moveers’ which means to move. Motivation is usually defined as an internal state that arouses, directs and maintains behaviour. Motivation, thus may regarded as something which prompts, compels and energies an individual to act or behave

ENTREPRENEURIAL MOTIVATION

          Entrepreneurial motivation may be defined as the process that activates the entrepreneurs to exert a high level of effort for the achievement of his/her goals. In other words, the entrepreneurial motivation refers to the drive or forces within an entrepreneur that affects his/her direction, intensity and persistence of voluntary behavior.

Process of Motivation

Maslow’s Hierarchy of Needs Theory

          This theory was proposed by Abraham Maslow and is based on the assumption that people are motivated by a series of five universal needs. These needs are ranked, according to the order in which they influence human behaviour, in hierarchical fashion. As one type of need is satisfied, another higher order need will emerge and become operative in life.

Physiological Needs

Need  for  Food, Water, Warmth, Rest

Safety Needs

When the physiological needs are successfully fulfilled then safety needs become the dominant force in the personality of the individual. Safety needs are many and are mainly concerned with maintaining order and security. Safety needs include a desire for security, stability, dependency, protection, freedom from fear and anxiety, and a need for structure, order, and law. In the workplace this needs translates into a need for at least a minimal degree of employment security; the knowledge that we cannot be fired on a whim and that appropriate levels of effort and productivity will ensure continued employment

Examples can be Personal security, Financial Security or Law and Order , etc

Social Need

        This need emphasize basic physiological nature of human beings to identify with the group life; making intimate relationship with other members of society. These needs are dependent on the fulfilment of previous needs.

Examples could be Friendship, Family, Belongingness and love.

Esteem Need

          Esteem needs include the desire for self-respect, self-esteem, and the esteem of others. When focused externally, these needs also include the desire for reputation, prestige, status, fame, glory, dominance, recognition, attention, importance, and appreciation.

Examples could be Mastery and Dominance, Respect, Achievement, Independence, Status.

Self-actualization Need

The highest need in Maslow’s hierarchy is that of Self Actualisation.

It is the need for Self realization, continuous self-development, and  the process of becoming all that a person is capable of.

McClelland’s Theory of Needs

Achievement

        The need for achievement is characterized by the wish to take responsibility for finding solutions to problems, master complex tasks, set goals and get feedback on level of success.

Affiliation

        The need for affiliation is characterized by a desire to belong, an enjoyment of teamwork, a concern about interpersonal relationships, and a need to reduce uncertainty.

Power

        The need for power is characterized by a drive to control and influence others, a need to win arguments, a need to persuade and prevail

        According to McClelland, the presence of these motives or drives in an individual indicates a predisposition to behave in certain ways. Therefore, from a manager's perspective, recognizing which need is dominant in any particular individual affects the way in which that person can be motivated.

To understand the topic better please go through the video link given below

https://www.youtube.com/watch?v=tz_HqcJ-o2I

your assignment
1.Draw Maslow's hierarchy theory of needs in your copies
2.Define motivation and entrepreneurial motivation
3. give an example of psychological needs
4. What do you mean by Self Actualisation