Motivation and Leadership styles

Motives = factors encouraging entrepreneurs to go into business and make particular decisions
1. Non-profit motives = motives not linked to profit
  1. Profit = revenue - costs compensates for taking risks
  2. Examples
    1. self-fulfillment
    2. family business
    3. control
      1. over hours
      2. over activities
      3. over location
    4. creativity
    5. hobby
2. Ethical motive = doing what is right
  1. benefits environment or society
Motivation = meeting needs of employees to encourage hard work and commitment so they work more efficiently
Leadership
1. Autocratic = no consultation when making decisions + little reasoning given as to why
  1. Good: quick + effective with low skilled employees
  2. Bad: de-motivating + segregating
2. Democratic = guide, not dictate + wide encouragement of decision making participation
  1. Good: delegation is motivating + better when specialist skills are required
  2. Bad: errors made if not skilled enough
3. Paternalistic = consult at every level with reasoning but make own final decisions
  1. Good: motivating + social needs met
  2. Bad: slower
Theory X and Y
1. Assumptions by management professor, Douglas McGregor who worked at top US uni's in 1950's
2. Theory X = have little ambition, dislike work. Require incentives and punishment
3. Theory Y = enthusiastic , enjoy responsibility, delegation, challenges and goals. Are self-motivated

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