A1. What role would money play in: (a) the hierarchy-of-needs theory;
(b) the motivation-hygiene theory;
(c) the equity theory; and
(d) the expectancy theory?
A1. What role would money play in: (a) the hierarchy-of-needs theory; (b) the motivation-hygiene theory; (c) the equity theory; and (d) the expectancy theory
Money plays different roles in different theories.
(a) For the Hierarchy-of-needs Theory, Maslow has set up a hierarchy of five levels of needs.
These are biological needs which are the strongest. Since this is the basic level for human being to survive and search for satisfaction
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As we know that physiological needs can be fulfilled by money, however, psychological needs is fulfilled by activities that cause one to grow. Therefore, we can conclude the money really takes role in Motivation-hygiene theory as it is one of factors affecting job attitude, however, money is less important when we want to achieve our psychological needs. (c) For the Equity Theory, employees seek to maintain equity between the inputs that they bring to a job and the outcomes that they receive from it against the perceived inputs and outcomes of others. The belief is that people value fair treatment which causes them to be motivated to keep the fairness maintained within the relationships of their co-workers and the organization. The structure of equity in the workplace is based on the ratio of inputs to outcomes. Inputs are the contributions made by the employee for the organization; this includes the work done by the employees and the behavior brought by the employee as well as their skills and other useful experiences the employee may contribute for the good of the company. Individuals who perceive themselves as either under-rewarded or over-rewarded which leads to efforts to restore equity within the relationship. It focuses on determining whether the distribution of resources is fair to both relational partners. Equity is measured by comparing the ratios of contributions and benefits of each person within the relationship. Payment whether hourly wage or