Types of motivation?

Motivation is an important factor, which encourages persons to give their best performance and help in reaching enterprise goals.
According to the Encyclopaedia of Management: “Motivation refers to degree of readiness of an organism to pursue some designated goal and implies the determination of the nature and locus of the forces, including the degree of readiness.”
Types of Motivation: There are two types of motivation, Intrinsic and Extrinsic motivation.
Intrinsic Motivation: Intrinsic motivation means that the individual’s motivational stimuli are coming from within. The individual has the desire to perform a specific task, because its results are in accordance with his belief system or fulfills a desire and therefore importance is attached to it.
Our deep-rooted desires have the highest motivational power. Below are some examples:
1. Acceptance: We all need to feel that we, as well as our decisions, are accepted by our co-workers.
2. Curiosity: We all have the desire to be in the know.
3. Honor: We all need to respect the rules and to be ethical.
4. Independence: We all need to feel we are unique.
5. Order: We all need to be organised.
6. Power: We all have the desire to be able to have influence.
7. Social contact: We all need to have some social interactions.
8. Social Status: We all have the desire to feel important.
Extrinsic Motivation: Extrinsic motivation means that the individual’s motivational stimuli are coming from outside. In other words, our desires to perform a task are controlled by an outside source. Note that even though the stimuli are coming from outside, the result of performing the task will still be rewarding for the individual performing the task.
Extrinsic motivation is external in nature. The most well-known and the most debated motivation is money. Below are some other examples:
1. Benefit package
2. Bonuses
3. Employee of the month award
4. Organised activities