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Transcript

Hello!! friends in our previous class we were discussing about what makes an entrepreneur in which we have seen a range of variables which are going to influence the behavior of an individual which we call entrepreneur behavior. In this class we will be discussing at length about motivation. Motivation is the term that we have come across in our previous discussions also. And in further many classes we will be discussing this particular aspect again and again. Now we’ll try to elaborate the concept of motivation and its importance for an Entrepreneur.

So now let me ask you when you are moving around in a market and you come across a signboard wherein it is written if you purchase one shirt two shirts will be given free. The moment you come across such a signboard you rush to that store or the shop and you make all possible effort to buy as many shirts as you want to buy. There were good number of other shops which were selling maybe the same brands of shirt but you did not enter into that shop or those shops but you chose that particular shop where the signboard was written if you purchase one you will get one or two three. So the factor the force behind was your motivation.

What is that motivation to save money or to have more whatever it is? So it means it is a type of a motivation which is attracting you which we call it as an extrinsic motivation. Many times it happens when you are working according to your will and wish, so it is your internal urge that takes you to work hard and that forces you to work hard and to achieve the goal that you have set for, this is what we call it as an intrinsic motivation. For an entrepreneur both these two types of motivation whether its intrinsic or extrinsic plays very very important role. To be an entrepreneur you need to be intrinsically motivated. So that is the first factor. The moment you want to satisfy your goals so there are various other support systems which are going to help you to achieve your goal. So those are the extrinsic factors which we will be discussing at length in the form of institutional support, in the form of venture capital, contract farming various other support systems because these are things that are essential for achieving the goal that you are going to set. Now basically motivation is an urge in an individual to achieve a particular goal. As I have already said the urge that we have already expressed in many ways maybe it is intrinsic or maybe extrinsic. So another important issue is motivation comes into picture when you want to be different from others and ready to work hard to reach your goal because since beginning we have been emphasizing upon the concept of hard work or the issue of hard work there is no alternative at all. Then if you are motivated you can never stop thinking big. Whether you achieve it or not. So that is a different issue. But at least you have to plan big, you have to think big and you have to imagine in a larger way so that you can achieve a lots of thing. Then constant need to achieve in the next subsequent slide we will be discussing at length about the concept of need and how it is going to influence the need to achieve. Then to be open to take help from external sources. The motivated person because his target is to reach the goal. To reach that particular goal he is ready to take the help from all possible sources. Now let us try to understand the concept of motivation with the help of the psychological definition. Basically, motivation is a psychological process. Through which your unsatisfied wants or needs lead to the drives that are aimed at goals or incentives. So this is what we’ll try to understand with the help of this small flow diagram. Where in the process of motivation starts with your unsatisfied need. So before exactly entering into the discussion on unsatisfied need let’s try to know what exactly the need is. In one of my previous description I have already mentioned that need is the difference between what is and what ought to be. What is the situation that telling so currently what exactly is the situation and you are very well aware of that. And to overcome that current situation you have some other situation that we call it as the desired situation what where exactly you want to be exactly the difference between these two things is considered as your need. There is a basic difference between the need and want. Many times we try to consider the needs and wants synonymously. It’s a gross mistake many times maybe sometimes knowingly or many times unknowingly that we are committing because needs are limited in nature and wants are unlimited in nature. For example take the simple situation. When we feel thirsty we need to drink water this is the need but when we quench our thirst then we start thinking about the quality of water, whether it is coming from RO, whether it is coming from the packaged water, whether it is mineral water or whether it is highly branded water. So there are various qualities that we can get starting from the thing what we get it for the free of cost to maybe 20 or 90 or 100 rupees per bottle. So that is how there is a clear cut difference between your needs and wants. So here to discuss about the motivation we are more interested in satisfying your needs that is basic in nature. So when your need is not satisfied you are working towards that particular direction. What you want to do is now you have to satisfy that particular need. So for which so there is a drive. What is the drive so that is what is your effort to achieve that particular satisfaction so that is what is it your drive. So the moment you attain your goal you’re going to satisfy your need. It means you are motivated with the help of this drive and you try to achieve your goals and that is how you satisfy your needs and that is how you are expressing your motivation. In that process you may motivate various others also. Now coming to motivation is basically the results of the expectancy that an effort will result in desired levels of performance. Many times it happens that what we desire is not going to happen. But even then we are motivated to achieve that but in which we are going to have a particular level wherein we want to achieve the things. The second issue is the likelihood that the performance will be linked with important intrinsic as well as the extrinsic factors as I have already told what are those intrinsic factors which are lying within yourself and because of which you try to excel or you try to come out with that or the extrinsic factors we’re in somebody else is giving you an offer to do that particular thing and the third one is the value or the attractiveness of the outcome or the reward to which the individual is getting. So with all these factors so we are getting ourselves motivated to achieve the ultimate end result which is the desired situation. So which we are trying to present with the help of a simple formula wherein we have said that motivation is the function of effort of performance. So it is your ability to take a particular task and to achieve that one. So when you perform when you show your abilities so you will get certain rewards. So your performance now is multiplied with results and what exactly is the value of that reward so that also matters and all these three factors put together is motivation. If the value of the rewards is highest so then you will be your levels of motivation will also be to the highest possible level and if the value of the rewards what you are going to get out of your performance as well as out of your performance rewards are to the lesser levels so then accordingly your motivation levels are also very very less. So this is how the motivation works.

Now with this we’ll move on to the achievement motivation theory. The achievement motivation theory as we said in the first part itself so there is need for achievement. And for achieving something we are getting the motivation. So this is what we are trying to explain with the help of this theory. So there are three basic elements that we come across in this particular theory. The first one is that the need for achievement. I’m sure you’re already aware of the concept of the need and the need for achievement explains a desire to take on the task and accomplish them satisfactorily because so that is what is it your basic need and that is what you wanted to achieve and that is how you are putting your efforts and you want to achieve that particular thing. It may be satisfying your basic needs or it may be satisfying your needs like being an independent man when we discussed in the context of entrepnuership. The moment you want to be an independent man so you are putting your efforts in that direction and that is what becomes your need for achievement. Then the second element of this theory which says that need for affiliation. The need for affiliation says that it is the desire of an individual to belong to a particular social group and to participate with others and create friendship. So man being a social animal he has the tendency of organizing himself into a group and fighting with other groups who are also behaving in the similar way. Here the fighting does not refer to the warship. But we are entering into the competition with other groups wherein I as an individual is behaving in that direction. It means I am farming a particular group because I’m affiliated to a particular group so that is what is the need for affiliation means. Then third element is the need for power. Individuals are comfortable in the executive position or in the topmost position of an organization in whatever capacity it may be. So when we say that executive position let us not only think about the chief executive officer or the commanding officer or only in that level. It may be Head of a group, so you are an executive as far as that particular group as far as that particular group is considered. Where in you have an independent power of making the decisions so that is what is very very important. So as an entrepreneur you want to achieve that power wherein you can take the decisions independently. So this is how the theory explains. So there is need for achievement, there is need for affiliation and there is need for power. When we satisfy these things it means motivated individual. Maslow’s explained the hierarchy of the needs which suits to the discussion on motivation with seven different levels. The first level of needs that we are going to satisfy is the biological needs or the physiological needs which include maybe our basic needs like air, food, drink shelter, warmth, sex, sleep etc. So these are basic to our nature. As I said so all these things are intrinsic in nature. The moment we satisfy the basic needs we are moving onto the higher levels of needs, the secondary levels of needs so that is what is the safety needs. The safety needs include maybe the protection, security, order, law, limits, stability etc., etc. When we were hungry and when we’re not having enough of resources to satisfy our basic needs we were not at all thinking of security or law and order or limits of stability etc., etc. The moment we achieve that at primary level we start asking for the security so that’s what is the in borne human nature. The moment we satisfy the safety and security needs also the third level of needs are the belongings needs which are very very crucial in the life cycle of an individual. Where in so after satisfying the safety and security needs, now he will be working for his family, now he will be looking for affection, now he will be looking for the relationships and the work groups etc etc. It means so he has already crossed two barriers of satisfying his needs so that his he is motivated. So the moment he satisfies the first level of needs as biological needs so his motivation level is one level higher. Then he is moving towards the secondary level that is safety needs. The moment he achieves that he’s going to the tertiary level needs that this belongingness needs. So now we are entering into very dangerous type of situation let us not take it in the only negative way because this is very very crucial for the life of an individual. Wherein we say that the Esteem needs. Wherein the achievement, the status, the responsibility, the reputation. It means at this particular stage I want to be recognized by the society. I expect that everyone in the society should recognize me, should respect me, should salute me and should behave in every way what I say. So that is what is your estimates. So here this is the point that’s what i said in the beginning it is a dangerous level wherein if this levels of needs are not satisfied if the my peers or my followers are not going to follow my words so then there may be situations of conflict that we are going to come across and that is how we are deviating from our major aspect of the major emphasis. So then once we cross this needs it is very very difficult I’m telling you but we can. There are ‘n’ number of people, there good number of people who have cross these needs and they will be in the pursuit of knowledge. The moment they cross this esteem needs whether society recognizes me or not how does it matter I’m an individual they are also an individual, so that is how I am moving ahead and now I’m searching for the knowledge what is that. So this is what we have seen in the life of Gandhiji wherein at the end of his life he said that still I am searching for truth and he wrote an excellent book known as my experiment for truth. Wherein the narrated his entire life story in the entire till his death he was in search of the knowledge.

What exactly the truth is. The moment we overcome this the cognitive needs also satisfy this cognitive needs so then we are moving for this Aesthetic needs. Wherein we are talking of beauty, balance, form etc. in each and every aspect of life we try to find a beauty. Whether it is a flower, whether it is a building or whether to a road, everywhere we try to find the beauty and the last level and the highest level is the self actualization wherein the individual starts feeling that what I have everyone should have that one that is the highest level of knowledge one can achieve. That’s what is self actualization is. So this is how the levels of motivation starting from your biological needs to the self-actualization takes seven-step. It depends on each and every individual. To what extent that i can know, whether I can achieve self actualization so that is the biggest challenge for each and every one of us. The moment we maintain our motivation to that level we can achieve that one. And ultimately I would like to end with the quotation that the great works are performed not by strength but by the patience or perseverance. So without this patience so you cannot achieve the greatest things. With this we have discussed various issues associated with the motivation and how we behave as a motivated individual. We will be closing this discussion here and in the next class we will be taking up the discussion on the SWOT analysis for an entrepreneur.

Thank You