MERCEDES BENZ Research Paper Example | Topics and Well Written Essays - 1250 words

MERCEDES BENZ - Research Paper Example Mercedes Benz Automobile industry is one of the fastest growing industries in the present world. Mercedes Benz is considered to be one of the leading automobile manufacturing companies around the globe which deals in luxury automobiles, buses, coaches and trucks. The company is owned by the Daimler Group which has made substantial earning amounting to total revenue of 61,660 million Euros in its performance during the year 2012. Mercedes Benz is undoubtedly one of the oldest and most liked automobile brands currently operating across the globe (Scribd Inc., 2013). Theories of Motivation Compare and Contrast The two Theories of Motivation, which can be evidently related to the work environment of Mercedes Benz, are the Maslow’s Hierarchy of Needs and McClelland’s Achievement-Power-Affiliation theory. These two theories are being compared and contrasted in the following discussion. Maslow’s Hierarchy of Needs Abraham Maslow assumed that people are motivated by need s that are not fulfilled. According to Maslow’s theory of needs, if a need is not fulfilled, people feels motivated to meet that need or in other word, individuals strive to perform better to satisfy the unrealized needs. This particular theory also notes that once a need is satisfied, it is not considered to a motivational factor. Figure: Maslow’s Hierarchy of Needs (McLeod, 2013) As identified in the figure above, the physiological needs of the people signify their basic needs for survival in terms of food, water and shelter. It is at this particular stage that people tend to work to earn their living and can be regarded as basic motivators. At the next level, the security needs are postulated as those needs of a person which keeps them free from harm. It basically includes personal security, well being and safety; thus, adding a certain degree of comfort to their economic position. Correspondingly, the belonging needs basically include the desire for love, friendshi p and companion which deciphers the social needs of people. This need is usually accomplished by people when they spend their time with their family or someone whom they are very close with. Hence, in the managerial field, this need essentialises a better work-life balance. Moving towards a higher level, the self-esteem need generally includes an individual’s desire of gaining recognition and respect from other. Praise and acceptance by people in public or in workplace often helps in meeting this need. Last but not the least, the self-actualization need is considered to be the final need of any person. It is a desire to live up to your full potential which is attainable through best performance at work as well as at home (Certo, 2013). McClelland’s Achievement-Power-Affiliation Theory In contrast to the five needs identified by Maslow in his motivational theory, McClelland’s theory of achievement-power-affiliation theory, three basic needs are identified that pe ople develop and acquire from their life experiences often serving as a motivational factor. As propagated in the theory, the person who has a high need for achievement is willing to take challenges to attain those needs. Accordingly, feedback from the superiors is perceived to be an important component that facilitates employees to