Motivation and its centrality to successful business practice

... Motivation Motivation is a key factor when managing any business. Motivation is important for a high productivity level. Productivity measures the relationship between the inputs into the business and the resulting output: There are several ways of measuring productivity: * Output per worker * Output per hour / day / week * Output per machine (if the business includes machinery). Unit costs divide the total costs by the number of units produced Unit costs = Total Costs / Units of output Stock levels A business will usually set itself a level of finished goods that it should receive. This is designed to satisfy the demand expected by the marketing department plans and based on what the production department thinks they can produce. If the output levels falls below this then the productive efficiency has fallen not meeting the requirements set by the company. Maslow created his hierarchy of needs Many people are motivated in many different ways some want more money,

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