Non-financial motivation methods help workers feel more satisfied, valued, and committed to their jobs without increasing pay. These methods improve job satisfaction, which can lead to higher productivity and better performance.
Workers move between different tasks regularly.
Increases variety and reduces boredom.
Helps workers learn different skills.
Makes it easier to cover for absent employees.
Market failure occurs when resources are not allocated efficiently by the market, leading to a waste of resources and reduced welfare for society.
Costs or benefits affect people who are not directly involved.
Example: Factory pollution affects nearby residents.
Can market failure be prevented?
How do you face market failure? Is there a comeback after one?
Reminder - do not copy paste answers from ChatGPT, just write what you have understood.
The government helps the economy work smoothly and improves the quality of life of people.
Builds roads, bridges, and railways.
Provides education and healthcare.
Tidal power is energy produced from the movement of ocean tides caused by the gravitational pull of the Moon and the Sun.
Renewable source of energy
Produces very little pollution
Predictable and reliable
A worker in a car factory has become bored because they perform the same task every day. Which non-financial method of motivation would be most suitable? Explain why.
A business wants employees to be able to cover for absent workers without disrupting production. Which motivational method would help achieve this? Explain two reasons for your answer.
A company gives employees extra responsibility for checking quality and solving minor production problems. Explain how this could increase employee motivation and productivity.
A business is deciding between introducing teamworking or providing more promotion opportunities. Which method is likely to have a greater impact on employee motivation? Justify your answer.