BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Definition: An extrinsic reward is a tangible and visible reward given to an individual or an employee for achieving something. They usually have monetary value such as a salary hike, bonus, award, or public recognition. Description: They are usually offered by the individual’s immediate manager who decides upon them.

Detailed explanation-2: -Intrinsic and Extrinsic Motivators Extrinsic rewards are usually financial or tangible rewards given to employees, such as pay raises, bonuses, and benefits. They are extrinsic because they are external to completing the work itself and are controlled by people other than the employee.

Detailed explanation-3: -What is an extrinsic reward? An extrinsic reward usually has a monetary value and is given to an employee for achieving something. Examples include bonuses, pay raises and additional benefits.

Detailed explanation-4: -Extrinsic rewards, such as promotions or gifts, are more tangible and usually relate to an employee’s status or have monetary value. Extrinsic and intrinsic rewards both have significant benefits when used correctly, so here are some examples of workplace rewards.

Detailed explanation-5: -Examples of external extrinsic rewards include: competing in sports for trophies. completing work for money. customer loyalty discounts.