Sunday, 24 May 2015

Is Intrinsic Motivation more Important than Extrinsic Motivation?” ―Professor M.S.Rao



“Managers do not motivate employees by giving them higher wages, more benefits or new status symbols. Rather, employees are motivated by their own inherent need to succeed at a challenging task. The manager’s job then is not to motivate people to get them to achieve; instead, the manager should provide opportunities for people to achieve so they will become motivated.” ―Frederick Herzberg


There are two types of motivation – intrinsic motivation and extrinsic motivation. Intrinsic motivation comes within the individuals to perform well while the extrinsic motivation comes from external support. Some individuals have inner power to grow while some need external power to grow. All individuals need these two types of motivation. The individuals with very high will power also get upset in some situations. Hence, they depend on external influence and support. When we look at several great leaders they were influenced by their mentors, coaches, gurus and guides. At the same time, these leaders have fire within them to grow. Some leaders have X factor that drives them to move forward.

DeAnne Rosenberg in her book Management's Fatal Flaw distinguishes between extrinsic and intrinsic motivation with examples as follows: the extrinsic motivators are: salary, benefits package, working conditions, company policies & rules, supervision, security and interpersonal relations. The intrinsic motivators are: challenge, achievement, recognition for achievement, interest in the job, responsibility for the work, personal & career growth and promotion & advancement.


Passion and Intrinsic Motivation

"The man who does not work for the love of work but only for money is not likely to neither make money nor find much fun in life." ―Charles M. Schwab

There are people who work to earn recognition and rewards from others which indicates extrinsic motivation. In contrast, there are people who work to please themselves regardless of rewards and recognition which indicates intrinsic motivation.  Coon & Mitterer said, "Intrinsic motivation occurs when we act without any obvious external rewards. We simply enjoy an activity or see it as an opportunity to explore, learn, and actualize our potentials."  Those who are passionate about have intrinsic motivation because they do what they love to do. They don’t do activities to please others. They do to please themselves and to unlock their potential. They don’t look for rewards from others.  Leaders like Abraham Lincoln and George Washington had intrinsic motivation. They were unmoved by shocks and setbacks.  They moved forward because they did what they were passionate about due to their intrinsic motivation.


Does Money Motivate Employees?

"Money was never a big motivation for me, except as a way to keep score. The real excitement is playing the game." ―Donald Trump

Money does play a crucial role to motivate employees to some extent. But what motivates employees is undertaking challenging roles and responsibilities to bring out the best and enhance their confidence levels to grow as leaders.  DeAnne Rosenberg in her book Management's Fatal Flaw asserts that although extrinsic constraints (such as the promise of a reward upon completion) seem to increase performance in the short run, in the long run, they kill an individual’s interest in the work and make it impossible for him/her to approach the task creatively ever again.


Conclusion

“Choose a job you love, and you will never have to work a day in your life.” ―Confucius

It is essential to work for your satisfaction first and then for the satisfaction of others. You must provide meaning to your life first to provide meaning to others’ lives. Don’t do what others do. Do what you are passionate about. To conclude, emphasize intrinsic motivation rather than extrinsic motivation to unlock your potential to grow as leader and provide meaning to your life.


"The only lifelong, reliable motivations are those that come from within, and one of the strongest of those is the joy and pride that grow from knowing that you've just done something as well as you can do it." ―Lloyd Dobens and Clare Crawford-Mason

Reference
Management's Fatal Flaw by DeAnne Rosenberg (Tate Publishing, September 9, 2014)


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Life is great!

Professor M.S.Rao, India
Founder of MSR Leadership Consultants India
Listed in Marquis Who's Who in the World in 2013
Vision 2030 Webinar: https://www.youtube.com/watch?v=nBCO-gWmTRk
Twitter: @professormsrao  
21 Success Sutras for Leaders: Top 10 Leadership Books of the Year (San Diego University) Amazon URL: http://www.amazon.com/21-Success-Sutras-Leaders-ebook/dp/B00AK98ELI




Thanks for reading!

Kindly share your thoughts and comments below, I’m sure someone out there will find your story useful.



Copyright©2015 MSR Leadership Consultants India. All Rights Reserved. Reproduction in whole or in part without permission is prohibited.

This is a nonprofit blog to share Professor M.S.Rao’s passion and vision to build one million students as global leaders by 2030. Please don't cut articles from my blog and redistribute by email or post to the web. The use of this material is free provided copyright is acknowledged and reference or link is made to the Blog http://professormsraovision2030.blogspot.in.  This material may not be sold, or published in any form, or used in the provision of business services to a third party without permission.



Thursday, 21 May 2015

“Do You Make Your Decisions by Head, Heart or Gut?” ―Professor M.S.Rao







"In any moment of decision the best thing you can do is the right thing, the next best thing is the wrong thing, and the worst thing you can do is nothing." ―Theodore Roosevelt


Making decisions is a major challenge for leaders and CEOs. If they are expert in conceptual, technical and business acumen and have access to authentic information, they can make wise decisions and achieve amazing outcome.   

Information is important to making wise decisions. Choosing the accurate information is essential to achieve the desired objectives. It requires experience, expertise and judgment to choose from the available information. If there is access to authentic information and the decision makers have the ability to interpret and forecast the pros and cons of their decisions well in advance, they can make decisions easily, quickly and wisely.


Colin Powell’s 40-70 Rule

Colin Powell, the former Secretary of State followed 40-70 Rule where the decision makers must have access to authentic information between 40 to 70 percent. If you have information below 40 percent, you must go by your heart.  If you have information above 70 percent, you must go by your head. At times, complete information may lead to information overload and confusion. If you have information between 40 to 70 percent, you must go by your head, heart and gut. Less information keeps you vulnerable and more information creates apprehensions. Hence, adequate amount of information must be available to make right decisions.  In this regard, Colin Powell’s 40-70 Rule is ideal to make easy, quick and wise decisions.

Making decisions on complex issues is a major challenge for leaders.  You must have the spine to make tough decisions to resolve long pending issues. My personal decision-making involves keeping multiple options ready and then I seek inputs from various reliable sources. I refine my decision from time to time and implement. I take feedback to understand its impact.  If there are any mistakes, I take precautions to make better decisions next time. I basically go by my head, heart and gut. If I have complete information, I will go by head. If I have partial information I go by head, heart and gut. If I don’t have any information, I will go by gut alone.  I am prepared for surprises and challenges after implementing decisions. Depending on the sensitivity of issue, I encourage consensus to make all members accountable.  

Your personal decision decides your destiny. Your professional decision decides the destiny of the people in your professional life. Your social decision decides destiny of the people around you in the society. Hence, you must be very careful while making your decisions. You must be more careful while making your professional and social decisions.  To conclude, get the authentic information from multiple sources, think logically and analytically, foresee the pros and cons of your decisions, execute it effectively; take feedback to improve your decision making skills.  Remember, all decisions don’t go well as some are bound to fail. It all depends on your time and timing.  Good luck to your successful decision-making!


"Never make an important decision while you are feeling emotional; either too happy, surprised, or angry. Similarly, never make a big decision until you have talked it over with people you trust who are knowledgeable about the matter. Then, be decisive once you have heard them out." ―Andrés Gluski - President and CEO—The AES Corporation





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Life is great!

Professor M.S.Rao, India
Founder of MSR Leadership Consultants India
Listed in Marquis Who's Who in the World in 2013
Vision 2030 Webinar: https://www.youtube.com/watch?v=nBCO-gWmTRk
Twitter: @professormsrao  
21 Success Sutras for Leaders: Top 10 Leadership Books of the Year (San Diego University) Amazon URL: http://www.amazon.com/21-Success-Sutras-Leaders-ebook/dp/B00AK98ELI




Thanks for reading!

Kindly share your thoughts and comments below, I’m sure someone out there will find your story useful.



Copyright©2015 MSR Leadership Consultants India. All Rights Reserved. Reproduction in whole or in part without permission is prohibited.

This is a nonprofit blog to share Professor M.S.Rao’s passion and vision to build one million students as global leaders by 2030. Please don't cut articles from my blog and redistribute by email or post to the web. The use of this material is free provided copyright is acknowledged and reference or link is made to the Blog http://professormsraovision2030.blogspot.in.  This material may not be sold, or published in any form, or used in the provision of business services to a third party without permission.

Wednesday, 20 May 2015

“Knowledge is the Real Power, not Money” ―Professor M.S.Rao






“There is no wealth like knowledge, and no poverty like ignorance.” ―Buddha


Recently a common man was discussing with others that lots of amount was wasted in paying huge salaries to experienced people in the organization as they were not involved in execution of physical tasks. He commented that he did lots of work physically but he received meager salary every month. On the other hand, those who are superior to him in office and don’t work physically takeaway more salary than him every month. He did not find any reason and logic in it. I explained to him as follows:

There are two kinds of people in the world ―contractors and consultants. Contractors are paid less while the consultants are paid more because of their education, experience, expertise, knowledge and wisdom. Contractors don’t take much risk whereas the consultants take a huge risk. Contractors play a safe game while the consultants play a risky game. Contractors think to a limited extent while the consultants think to a greater extent. Likewise, there are a number of reasons why manual workers are paid less while the knowledge workers are paid more in the world.

Peter Drucker once remarked, “Today knowledge has power. It controls access to opportunity and advancement.”  Knowledge is the true wealth. Knowledge cannot be measured easily. Knowledge grows when shared while money gets depleted when shared.  The future world will be ruled by knowledge workers, not manual workers. Future world will be ruled by consultants, not contractors. Future is very bright for the people who invest their money in education because education goes with the individuals while money will not. L. Frank Baum rightly remarked in The Lost Princess of Oz, “No thief, however skillful, can rob one of knowledge, and that is why knowledge is the best and safest treasure to acquire.”  Hence, value knowledge, not money. Don’t underestimate the power of knowledge. Knowledge is priceless and invaluable. To conclude, invest in education to attain knowledge and wisdom to stay relevant and grow as a great leader.


“If money is your hope for independence you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability.” ―Henry Ford



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Life is great!

Professor M.S.Rao, India
Founder of MSR Leadership Consultants India
Listed in Marquis Who's Who in the World in 2013
Vision 2030 Webinar: https://www.youtube.com/watch?v=nBCO-gWmTRk
Twitter: @professormsrao  
21 Success Sutras for Leaders: Top 10 Leadership Books of the Year (San Diego University) Amazon URL: http://www.amazon.com/21-Success-Sutras-Leaders-ebook/dp/B00AK98ELI




Thanks for reading!

Kindly share your thoughts and comments below, I’m sure someone out there will find your story useful.



Copyright©2015 MSR Leadership Consultants India. All Rights Reserved. Reproduction in whole or in part without permission is prohibited.

This is a nonprofit blog to share Professor M.S.Rao’s passion and vision to build one million students as global leaders by 2030. Please don't cut articles from my blog and redistribute by email or post to the web. The use of this material is free provided copyright is acknowledged and reference or link is made to the Blog http://professormsraovision2030.blogspot.in.  This material may not be sold, or published in any form, or used in the provision of business services to a third party without permission.