Definition: Linear programming is a technique for selecting the best alternative from the set of available alternatives, in situations in which the objective function and constraint function can be expressed in quantitative terms. Minimization Case: The minimization case can be well understood through a problem. Let’s say; the agricultural research institute recommended a … [Read more...] about Formulation of Linear Programming-Minimization Case

# Business

## Formulation of Linear Programming-Maximization Case

Definition: Linear programming refers to choosing the best alternative from the available alternatives, whose objective function and constraint function can be expressed as linear mathematical functions. Maximization Case: Let's understand the maximization case with the help of a problem. Suppose a firm produces two products A and B. For producing the each unit of product A, … [Read more...] about Formulation of Linear Programming-Maximization Case

## Linear Programming

Definition: The Linear Programming method is a technique of selecting the best alternative out of the available set of feasible alternatives, for which the objective function and the constraint function can be expressed as linear mathematical functions. There are certain prerequisites for applying the linear programming technique. These are: There should be an … [Read more...] about Linear Programming

## Carrot and Stick Approach of Motivation

Definition: The Carrot and Stick Approach of Motivation is a traditional motivation theory that asserts, in motivating people to elicit desired behaviors, sometimes the rewards are given in the form of money, promotion, and any other financial or non-financial benefits and sometimes the punishments are exerted to push an individual towards the desired behavior. The Carrot … [Read more...] about Carrot and Stick Approach of Motivation

## Reinforcement Theory of Motivation

Definition: The Reinforcement Theory of Motivation was proposed by B.F. Skinner and his associates. This theory posits that behavior is the function of its consequences, which means an individual develops a behavior after performing certain actions. The reinforcement theory of motivation is based on the “Law of Effect” concept, i.e. an individual is likely to repeat those … [Read more...] about Reinforcement Theory of Motivation

## Adam’s Equity Theory

Definition: The Adam’s Equity Theory posits that people maintain a fair relationship between the performance and rewards in comparison to others. In other words, an employee gets de-motivated by the job and his employer in case his inputs are more than the outputs. The Adam’s Equity Theory was proposed by John Stacey Adams, and is based on the following assumptions: … [Read more...] about Adam’s Equity Theory

## Vroom’s Expectancy Theory

Definition: Vroom's Expectancy Theory was proposed by Victor. H. Vroom, who believed that people are motivated to perform activities to achieve some goal to the extent they expect that certain actions on their part would help them to achieve the goal. Vroom's Expectancy Theory is based on the assumption that an individual’s behavior results from the choices made by him with … [Read more...] about Vroom’s Expectancy Theory

## Alderfer’s ERG Theory

Definition: Alderfer’s ERG Theory is the extension of Maslow’s Needs Hierarchy, wherein the Maslow’s five needs are categorized into three categories, Viz. Existence Needs, Relatedness Needs, and Growth Needs. An American psychologist Clayton Paul Alderfer had proposed this theory and believed that each need carries some value and hence can be classified as lower-order needs … [Read more...] about Alderfer’s ERG Theory

## McClelland’s Needs Theory

Definition: McClelland's Needs Theory was proposed by a psychologist David McClelland, who believed that the specific needs of the individual are acquired over a period of time and gets molded with one’s experience of the life. McClelland's Needs Theory is sometimes referred to as Three Need theory or Learned Needs Theory. McClelland has identified three basic motivating … [Read more...] about McClelland’s Needs Theory

## Herzberg’s Motivation-Hygiene Theory

Definition: The Herzberg's Motivation-Hygiene Theory is given by Fredrick Herzberg and his associates, who studied the variables that are perceived to be desirable to achieve goals and the undesirable conditions to avoid. In this context, the study was conducted wherein the experiences and feelings of 200 engineers and accountants were analyzed. They were asked to share … [Read more...] about Herzberg’s Motivation-Hygiene Theory