Essay Outline and References Final PDF

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GROUP ASSIGNMENT/ASSESSMENT COVER SHEET MNGT1001 MANAGEMENT

INTRODUCTION TO

List Group Members: Tanisha

Blake

3374141

Alex

Jones

3331507

Kobi

Morris

3354513

Maddie

Parkes

3375814

29/08/2021

Assessment Item Title:

ESSAY OUTLINE

TO1 G7 Tutorial and Group Number:

500 WORDS plus reference list – ended up being 555 including title Word Count:

Lecturer/Tutor Name: Dr. Limin Fu

ASSIGNMENTs WILL BE RETURNED WITHIN TWO OR THREE WEEKS OF THE DUE DATE Please tick box I verify that I have completed the online Academic Integrity Module and adhered to its principles

☒

I declare that this assessment item is the work of the students named above unless otherwise acknowledged and is in accordance with the University’s Student Academic Integrity Policy I certify that this assessment item has not been submitted previously for academic credit in this or any other course. I certify that I have not given a copy or have shown a copy of this assessment item to another student enrolled in the course. I acknowledge that the assessor of this assignment may, for the purpose of assessing this assignment:   

Reproduce this assessment item and provide a copy to another member of the Faculty; and/or Communicate a copy of this assessment item to a plagiarism checking service (which may then retain a copy of the item on its database for the purpose of future plagiarism checking). Submit the assessment item to other forms of plagiarism checking.

Turnitin ID: (if applicable)

Name of person submitting:

27/08/2021

Date:

Tanisha Blake

Monetary Reward Is A Stronger And More Tangible Motivator For Employees Than Other Motivators. There has been a wide array of controversy as to whether monetary rewards are the stronger and more tangible motivator than other motivators. The aim of this essay is to produce valid arguments towards both sides of the argument, resulting in a clear and cohesive conclusion as to which is reasonable, and if there are any concessions necessary to achieve it. The essay will determine whether monetary rewards are the stronger and more tangible reward to receive for performance. Monetary rewards are a means of value contributing towards employees that achieve their given goals or target revenue for their business (for example, bonuses, gift cards, or awards). Two defined arguments that will support this proposition is that theories surrounding motivation are currently more influential in exerting those in pursuit of a reward. Therefore, it can positively relate to retaining employees' engagement and employment within the business to provide a sustainable and motivating working environment. However, when faced with constant competitiveness alongside high functioning workplaces, it can apprehensively lead to results like fear of failure, counter-productiveness, and unethical behaviours amongst workers. This may present itself in forms such as sabotage or conflict between teams which can damage the overall performance between employees. Furthermore, there are many other non-monetary options such as work flexibility that can outweigh monetary rewards due to repetitiveness and precognition. Employees can find themselves underappreciated and forego their positions to gain further recognition. To conclude, this essay argues that although monetary rewards are a valid motivator when rewarding good employees with their work efforts, non-monetary rewards may produce a more effective means of motivation.



Monetary rewards are used to successfully attract new potential employees and retain employees within a business/organisation.

(Aguinis, Joo, & Gottfredson, 2013) 

Expectancy theories of motivation underline the base notion of an individual’s desire to receive a tangible reward in exchange for higher levels of motivation to be attained.

(Lloyd & Mertens, 2018; Jeffrey & Shaffer, 2007) 

Monetary rewards are likely to result in counterproductive and unethical behaviours, as well as foster poorer performance due to the fear of failure.

(Aguinis, Joo, & Gottfredson, 2013) 

Non-monetary rewards have proven to not only increase an employee’s engagement, but also their holistic approach towards motivation.

(Belgio, 2017)

Monetary rewards are used as a motivational tool to significantly enhance performance. These incentives positively attract employees to engage in exerted effort which results in a high functioning workplace environment. However, it is found that these rewards can persuade negative actions from employees promoting unethical behaviour to reach a targeted goal. Others argue these types of rewards can be damaging to individuals as they exert a sense of fear of failure and pressure, which leads to poorer performance. Further rewards with no monetary value such as promotions or honourable mentions within a business, will retain employee engagement as well as enhance their wellbeing. Employees that are recognised through these rewards will be motivated to perform better results to uphold representation. In

conclusion, although monetary rewards are more tangible, they can lead to poorer attitudes and performance in workers. For rewards to be effective, a healthy balance of monetary rewards can be introduced, however, non-monetary rewards have limited negative impact on employees and should be the main strong motivator in all workplaces.

References: Aguinis, H., Joo, H., & Gottfredson, R. (2013). What monetary rewards can and cannot do: How to show employees the money. Business Horizons, 56(2), 241-249. https://doi.org/10.1016/j.bushor.2012.11.007 Jeffrey, S., & Shaffer, V. (2007). The Motivational Properties of Tangible Incentives. Compensation & Benefits Review, 39(3), 44-50. https://doi.org/10.1177/0886368707302528 Lloyd, R., & Mertens, D. (2018). Expecting More Out of Expectancy Theory: History Urges Inclusion of the Social Context. International Management Review; Marietta, 14(1), 24-37,66. Retrieved 3 August 2021, from https://www.proquest.com/docview/2158501039?pqorigsite=gscholar&fromopenview=true. Belgio, E. (2017). Do Rewards and Recognition Drive Engagement? A Quantitative Study Assessing the Impact of Monetary and Nonmonetary Rewards on Employee Engagement (Ph.D.). Benedictine University. http://ezproxy.newcastle.edu.au/login? url=https://www-proquest-com.ezproxy.newcastle.edu.au/dissertations-theses/dorewards-recognition-drive-engagement/docview/1885103182/se-2?accountid=10499

Group Project Plan

Group Name: Group 7 Name and details of all group members Student Name: Maddie Parkes [email protected]

Student Email: Phone: 0450356488

Student Name: Tanisha Blake [email protected]

Student Email: Phone: 0497050535

Student Name: Kobi Morris [email protected]

Student Email: Phone: 0403066229

Student Name: Alex Jones [email protected]

Student Email: Phone: 0401156737

Tasks and Deadline and Responsibilities (add more if necessary)

Task

Due

Member/s Responsible

Select a proposition and its relevant topic in the textbook

8th August

All

Define the proposition and key words

9th August

Alex

Brainstorm possible arguments

10th August

Kobi

Read relevant chapter/s, course readings, media etc

14th August

All

Search for scholarly articles for each side of the 14th August arguments and related arguments

Tanisha

Agree on the arguments and conclusion

15th August

All except Kobi

Draft the topic sentences and add relevant citations under them

20th August

Kobi and Tanisha

Draft the conclusion ie your final position

21st August

Alex

Draft the introduction

22nd August

Maddie

Add the references in a Reference List

24th August

Tanisha

Edit the final copy (this is best done by one person, the appointed ‘editor’ of the group who should also submit to Turnitin)

25th August

Tanisha

Attach the Assignment Cover Sheet and Group Project Plan to the assignment

26th August

Tanisha

26th Submit assignment to Turnitin and check the Turnitin report (consider this should be whoever August submits to Turnitin eg the editor but ideally ever member should check)

Tanisha

28th August

Tanisha

Correct the assignment if necessary and resubmit (this must be done by the same person who first uploaded the assessment, the editor)

What are the agreed methods of communicating with one another (think group page)? First Preference:

Instagram

Second Preference: Blackboard/Zoom Planned meetings (at least three dates and times): 08/08/2021

How often, where, and for how long will the group meet? Frequency: dependant on availability of each group member Location: ONLINE- No location required Duration: minimum of 10mins

How will meetings be conducted? Chairing: Tanisha Decision-making: All members (in the case of a tie, we’ll flip a coin) Record keeping: Alex Other: Tanisha

When is it OK/Not OK to miss a group meeting? OK: If the event of an emergency or called into work Not OK: Partying, forgot etc.

What action/s will be taken if a member misses more than one meeting? Action One: Ask the member to attend the meeting and provide a reason Action Two: Let them know that it isn’t okay and if they don’t attend they may get marked down for not contributing. Note: If a group member leaves the course, inform the Course Coordinator immediately

What action/s will be taken if a member is not contributing or not completing work? Action One: Ask them to complete their work by the due date Action Two: Let them know that they will be marked down as they aren’t doing their fair share.

What action/s will be taken in the event of personal conflict in the group? Action One: Let them work at separate times Action Two: Discuss the possibility of working things out

List two behavioural characteristics that group members agree to emulate. Characteristic One: being mindful of others Characteristic Two: communicating effectively

Group Member Names and Signatures:

Name:

Tanisha Blake

Signature:

Name: Alex Jones

Signature:

Name: Maddie Parkes

Signature:

Name: Kobi Morris Signature: Kobi

Date: 8-8-2021

Proposition Ideas:

Monetary reward is a stronger and more tangible motivator for employees than other motivators (week 3).

Possible Arguments Long-run motivation (possible against) Short-run motivation (for)

GROUP OUTCOMES

What worked: getting the tasks done. What didn’t work: Not everyone showed up to meetings or had their sections completed on time....