BUSINESS ADMINISTRATION
PRINCIPLES AND PRACTICE OF MANAGEMENT
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Autonomy
|
|
|
Working Relationships
|
|
|
Sense of Worth
|
|
|
None of the above
|
Detailed explanation-1: -Non-financial motivators, which are less common, are often intangible and do not involve money directly. Examples of these include recognition, added responsibility and trust in a role, participation in decisions, flexible schedules, mentorship, feedback, and others.
Detailed explanation-2: -Non-financial methods of motivation include job enlargement, job rotation, job enrichment, empowerment and training.
Detailed explanation-3: -Job security is not a financial incentive. Beneficiaries like retirement provide financial security to employees after their retirement. A bonus is a financial incentive. It is given to an employee as a reward for his good performance.
Detailed explanation-4: -Types of Financial Incentives It includes components like basic pay, house rent allowance, dearness allowance and other such benefits. Bonus – It is a consolidated amount that an employee gets from the organisation for performing well. It can act as a powerful motivator for the employee.
Detailed explanation-5: -Ans : Financial incentives are directly monetary, i.e., money that can be measured in monetary terms. In contrast, Non-Financial Incentives are those benefits that satisfy employees’ social, psychological, and emotional needs and cannot be measured in terms of money.