Explain the theories of motivation

Assignment Help Other Subject
Reference no: EM131883108

Problem: MANAGEMENT DECISION

Crowdsourcing a More Stable Economy Magazine and newspaper articles, op-ed columns, and even entire books are being written in an effort to explain the causes of the recent global economic downturn. Many ask, "How did we not see it coming?" Being in the credit rating business, you know that the signs were there. They were just missed by the big-name agencies like Moody's, which gave Lehman Brothers an A2 rating despite signs of a likely default. What's the problem in your industry? One problem might be groupthink: There is not a lot of diversity or creativity in how algorithms are created among the big agencies (so there is not a diversity of opinion), and their models are not available for public scrutiny. Another problem: Large firms can be slow to react to new information. What's more, credit rating organizations often take payment from the companies they evaluate-it's legal, but it still looks an awful lot like a conflict of interest. You think you may have a solution: crowdsourcing. Set up a website where users can create their own algorithms to assess credit risk. Your main goal is to get a clean, open store of financial data and make it available for download.

Then you might offer some examples and templates to get contributors off to a start, but you want to encourage people to come up with their own strategies. This will certainly provide a diversity of algorithms that will be transparent and can be assessed on how well they actually perform.108 Your problem: How can you motivate potential users to contribute to this "ecosystem" without offering financial rewards? Crowdsourcing has been growing in recent years, enabled by the fact that people are motivated by other things besides cold, hard cash: recognition, respect, satisfaction at having accomplished something and contributed to a greater goal, the opportunity for personal expression and building a personal brand. You know you will have to invest in creating a base-getting contributors access to the financial data they need will be a good start-and a message that will bring potential contributors on board. But beyond that, what can you do? Some organizations, like those who post challenges in need of solutions on InnoCentive.com, can offer cash prizes for the person who comes up with the best solution. Others create online games or contests to offer incentive, create competition, and make it fun.109 You know you've got a powerful message that can tap into this set of powerful internal motivations: We can work together to create a more stable economy. Now you just have to create a strategy for doing it.

Questions: 1. Think about the four theories of motivation you read about in the text. Which one (or combination of more than one) might work best in this situation?

2. What specific incentives would you design and implement to motivate potential contributors if you were in charge of this website? Discuss them with reference to one or more of the motivational theories presented in the text.

Reference no: EM131883108

Questions Cloud

What additional activities you would add to the project : What additional activities you would add to this project to make it more complete, from a project management viewpoint?
Analyse how the two ads create meaning : MPS 331: MPS 331: Media and Cultural - discuss to whom the ad is addressed and how the ad is arranged to achieve this. This requires you to think about larger
How were you different from others in attendance : From Majority to Minority and Back Again Do you know what it feels like to walk into a room where, because of your sex, race/ethnicity, religion, language.
Write a definition of cognitive psychology : Describe two important developments in the field of cognitive psychology beyond the use of neuroimaging.
Explain the theories of motivation : Think about the four theories of motivation you read about in the text. Which one (or combination of more than one) might work best in this situation?
What are the postmodern elements in pulp fiction : Compare to the Godfather. Both are gangster films but one is more postmodern and the other is more traditional. Be specific.
Does your company use web conferencing software : If so, which software and how often? If not, would your company benefit from using this technology? Also provide a reference to cite your answer.
What powers does a president have to influence the economy : What powers does a president have to influence the economy? Illustrate these powers with a news article from the last four months.
What the world economy would look like without reinsurance : A World Without Reinsurance - Discuss (and in your classmate response posts, debate) what the world economy would look like without reinsurance

Reviews

Write a Review

Other Subject Questions & Answers

  Cross-cultural opportunities and conflicts in canada

Short Paper on Cross-cultural Opportunities and Conflicts in Canada.

  Sociology theory questions

Sociology are very fundamental in nature. Role strain and role constraint speak about the duties and responsibilities of the roles of people in society or in a group. A short theory about Darwin and Moths is also answered.

  A book review on unfaithful angels

This review will help the reader understand the social work profession through different concepts giving the glimpse of why the social work profession might have drifted away from its original purpose of serving the poor.

  Disorder paper: schizophrenia

Schizophrenia does not really have just one single cause. It is a possibility that this disorder could be inherited but not all doctors are sure.

  Individual assignment: two models handout and rubric

Individual Assignment : Two Models Handout and Rubric,    This paper will allow you to understand and evaluate two vastly different organizational models and to effectively communicate their differences.

  Developing strategic intent for toyota

The following report includes the description about the organization, its strategies, industry analysis in which it operates and its position in the industry.

  Gasoline powered passenger vehicles

In this study, we examine how gasoline price volatility and income of the consumers impacts consumer's demand for gasoline.

  An aspect of poverty in canada

Economics thesis undergrad 4th year paper to write. it should be about 22 pages in length, literature review, economic analysis and then data or cost benefit analysis.

  Ngn customer satisfaction qos indicator for 3g services

The paper aims to highlight the global trends in countries and regions where 3G has already been introduced and propose an implementation plan to the telecom operators of developing countries.

  Prepare a power point presentation

Prepare the power point presentation for the case: Santa Fe Independent School District

  Information literacy is important in this environment

Information literacy is critically important in this contemporary environment

  Associative property of multiplication

Write a definition for associative property of multiplication.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd