For any organisation to be productive, it needs to motivate its employees towards its goals so that it achieves its business objectives. Motivation for the employees can be internal or external. While external motivation is an incentive provided by another person, internal motivation is offered by the environment and achievement of the task.
But just as the individuals are unique, motives are unique as well. They are individualistic, they evolve with the times and change and are hierarchical as well. What works for one person may not work for another person. Therefore finding the right motivating factor is a challenge by itself. It is a continuous process.
The various theories have tried to analyse how exactly motivation works, and have added a lot of research and valuable knowledge that can applied to a current situation to arrive at a solution that best suits the current needs under the operational constraints. There is no universal theory that can be applied to all the situations and offer a universal solution.
Fredrick Herzberg tried to understand the factors associated with job satisfaction which motivated or demotivated people to perform a task. These factors, called Motivators, if present caused Job satisfaction. ...