Comparison between intrinsic and extrinsic rewards

Table of Contents

Introduction3

Discussion Analysis3

Motivation3

Importance of Motivation for an Organization4

Intrinsic Rewards4

Extrinsic Rewards7

Comparison of Intrinsic and Extrinsic Rewards8

Conclusion11

References12

Comparison between intrinsic and extrinsic rewards

Introduction

This research paper aims to focuses on two aspects of motivation: intrinsic rewards and extrinsic rewards. It briefly links the different theories, authors and processes that characterize each of these two motivational dimensions. The research paper aims to provide the research findings on the comprehensive comparison between the intrinsic and extrinsic rewards.

The study of extrinsic rewards follows the behavioral approach to the study of motivation; whereas the study of intrinsic rewards is a research tradition that has evolved almost counter-current with the behavioral approach.

It should be noted that behaviorism does not deny that the behavioral and motivational conduct of an individual might have internal causes; however behavioral theorists persist on the notion that the root causes of behavior are outside and not inside the person. On the other hand, investigators and researchers studying the phenomenon of intrinsic rewards propose that humans are inherently active and are intrinsically motivated. Intrinsic motivation argues that an individual is able to adapt to the challenges and curiosities of the environment and hence encourages the individual to confront new challenges and dynamics. (Cook 2003).

Discussion Analysis

Motivation

Technically, motivation can be defined as the thrust that is found in an individual to embrace particular means for achieving or satisfying a need or goal. Motivation is usually seen as the application of external or internal forces that leads an individual to perform an action to get something nice or to avoid something unpleasant. Motivation is a real force that makes a person or group of people to make extraordinary efforts to achieve a certain objective in a given time. Simply, motivation can be defined as a drive, which is inspired from external and internal variables to fulfill a need.

Importance of Motivation for an Organization

It is imperative to note that an organization is primarily defined by the internal culture or organizational behavior, which is referred to as the behavior of the employees or individuals within the organization. The organization mainly comprises of human capital, therefore in order to maintain the organization as a productive and efficient unit; it is important to keep the workforce motivated and satisfied.

Managers should understand that the key aspect of organization behavior i.e. motivation is a vast field that includes sociology, psychology, management and the communication and interactions among the workforces. The basic purpose of any organization is to be successful and earn maximum profits and this will only be achievable if the human resource is giving 100 % output to the organization. This effort and devotion from human capital is only achievable when the human resource is duly motivated with intrinsic and extrinsic rewards.

Intrinsic Rewards

Before moving on towards intrinsic rewards, it is important to understand intrinsic motivation. Intrinsic motivation is referred to as the motivation which emerges from within of an individual or organization. Intrinsic motivation can be defined as the motivation or drive which encourages an individual ...