Models And Theories

Question 1

Ansoff Matrix

Answer 1

• The Ansoff Matrix, also called the Product/Market Expansion Grid, is a tool used by firms to analyze and plan their strategies for growth.

Penetration
Market Development
Product Development
Diversification - most risk but can lead to the most lucrative rewards, increase product portfolio

Question 2

Motivation Theories - Hertzberg

Answer 2

Had Two Factors,
- Hygene Factors which were things if not met may demotivate you, however if improved would not greatly increase motivation. Prospect of them will not increase your motivation.

• Pay
• Working environment
• Relationship with colleagues

Motivators, these were things that will stimulate motivation within the workplace.

• Opportunities for promotion and self improvement
• Job design
• Job enlargement
• Job enrichment
• Empowerment

Never grounded in great research, had no imperial research.

Question 3

Motivation Theories - Taylor

Answer 3

Believed the use of monetary reward was the key way to motivate people. Used piece rate-pay and bonuses to stimulate motivation. Was a firm advocate for the division of labor so that workers became specialised in that sector. Would find the most efficient and productive way to complete the task ‘one best way’ and then use this on new workers. Set output targets for workers which if hit would allow for these monetary rewards. Allowed for them to have a smaller labor group which thereby cut production costs, cutting unit costs and thus driving down the price for consumers. Used time and motion studies.

Ran into issues such a industrial unrest as many workers were seeing their colleagues lose their job made them feel uneasy and worthless within their workplace. Workers believed output targets were not fair or equitable, let to more industrial actions.

Question 4

Motivation Theories - Maslow Hierarchy Of Needs

Answer 4

Consists of 5 things that workers need in a workplace to stimulate the greatest motivation.
- At The Top Is,
Self Actualization is the idea of achieving one’s full potential, including creative activities.
Esteem Needs is prestige and feeling accomplishment, recognition and promotions.
Belongingness and Love needs intimate relationships and friends.
Safety Needs being secure and safe within your workplace.
Psychological Needs money