[정품]금융전문가 1.5

Chapter 7 Summaries

 Motivation II : Equiry, Expectancy, and Goal Setting

Chapter 7 Summaries.docx

 15. 신명석(Stance)

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Intro) Many CEOs(Chief Execuective Official) are not paid according to the principles of expectancy theory.

1.     Adam’s Equiry Theory of Motivation

1)     Equity theory means holds that motivation is a function of fairness in social exchanges. It’s mean how equal to input between output. For example, negative inequity means comparison in which another person receives greater outcomes for similar inputs. But, positive inequity means comparison in which another person receives lesser outcomes for similar inputs.

2)     Dynamics of perceived inequity is famous for equity sensitivity. This means an individual’s tolerance for negative and positive equity.

3)     Expanding the concept of equity.

The concept is referred to distributive justice. This mean the perceived fairness of how resources and rewards are distributed. Second, procedural justice means the perceived fairness of the process and procedures used to make allocation decisions. Third, interactional justice means extent to which people feel fairy treated when procedures are implemented.

2.     Expectancy theory of motivation.

Intro) There is the concept that expectancy theory. This word is referred to holds that people are motivated to behave in ways that produce valued outcomes.

1)     Vroom’s Expectancy theory

 There are three type of vroom’s expectancy theory : Expectancy, Instrumentality, Valence. Expectancy means belief that effort leads to a specific level of performance. Instrumentality means a performance to outcome perception. At last, Valence means the value of a reward or outcome.

3.     Motivation through goal setting.

1)     Goals : Definiton and background

 Goals means what an individual is trying to accomplish. And MBO,management by objectives means manangement system incorporating participation in decision making, goal setting, and feedback.

2)     How does goal setting work?

 First goal act to getting attention ,regulating effort, increasing persitstence and getting the strategies.

3)     Practical application of goal setting

Step 1 : Set goals-> Step 2 : Promote goal commitment-> Step3 : Provide support and feedback