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Chapter 5 - Motivation. Andrew keenan. From Chapter 1, in my own words….
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Chapter 5 - Motivation Andrew keenan
From Chapter 1, in my own words… • “To help Credit Suisse become the world’s most admired bank”. I am interested in making a lasting impact in the investment banking world through a positive, proactive, and collaborative approach towards Product Control.
Makeup of Chapter 5 • Content • Self-Motivation • Motivating Others • Exercises • Self-Assessments • Bibliography • Sources
Content CHAPTER 5
Abstract of Chapter 5 (Motivation) • Chapter 5 focuses on two separate components of motivation: self-motivation and motivating others. It is absolutely imperative that a leader/manager has the ability to motivate and inspire his/her subordinates to both perform their jobs diligently and strive to achieve their personal goals. The two—self-motivation and motivating others—are not mutually exclusive. I strongly believe that this ability to motivate others well stems from our own personal intrinsic motivation—the innate desire to be successful in whatever we may be doing at a specific point in time.
Self-Motivation • We can find virtuosos of self-motivation everywhere we look. A great example is this man:
Self-Motivation “At the age of 11, his coach Bob Bowman (who is still with him today) told him that if he trained hard he could compete in the next summer Olympic Games. Phelps got to work and broke his first world record when he was 15. "Once I accomplished that, I wanted to do something better," he told the Leander middle schoolers. At his first Olympic competition, Phelps came in fifth and was disappointed. He set another goal. He decided he would win eight gold medals at his second Olympic Games. He was again disappointed, but it didn't stop him. He just worked harder. “ A personal note on what we can learn about Phelps in regards to self-motivation: Michael Phelps is a motivation machine. He churned out millions of yards in training and did whatever his Coach asked of him because he knew it would help him move closer to his goals. His career is a testament to how successful one can be if they stick to the basics: set your goals high, make everyday count, and never give up—no matter how discouraged you may be.
Motivating Others • Maslow’s Hierarchy of Needs is a great tool to use when trying to understand the motivation of others. • The hierarchy (shown on the next slide) is often shown as a pyramid: the most basic needs fill the base while the more complex needs are situated near the peak. • I feel the best way to apply this theory/model in a professional setting is to actually spend time getting to know your managers and/or subordinates. • By understanding what makes people “tick”—achievement, family, self-esteem—we can better understand where on the hierarchy they are situated and synthesize a more individualized approach towards managing that person.
EXERCISES CHAPTER 5
EXERCISE – What layer? • Where are you on the hierarchy? • What is most important to you (right now)? • Do you see your position on the hierarchy change?
BIBLIOGRAPHY/sources CHAPTER 5
Sources • http://www.mindtools.com/pages/article/newLDR_01.htm • "Retaining and Motivating Employees: Compensation Preferences in Hong Kong and China." Personnel Review 31.4 (2002): 402-430. Web. 1 Dec. 2013. • http://www.simplypsychology.org/maslow.html • http://www.scholastic.com/teachers/article/how-michael-phelps-motivates
