Do incentives work? Autonomy, mastery, and the purpose (not profit) motive

Do incentives work? Well the answer is yes and no. They work for rudimentary mechanical tasks, but when you up the cognitive anti, incentives fail to motivate. Not only that, they can negatively impact performance. Pay people enough so they are not thinking about money and can instead be free to concentrate on their performance. Also relevant to management practice is the idea of giving people autonomy. Think autonomy, mastery, and the purpose motive. Watch the video to see how this plays out.

The Seven Habits of Spectacularly Unsuccessful Executives – Forbes

Sydney Finkelstein, the Steven Roth Professor of Management at the Tuck School of Business at Dartmouth College, published “Why Smart Executives Fail” 8 years ago. In it, he shared some of his research on what over 50 former high-flying companies – like Enron, Tyco, WorldCom, Rubbermaid, and Schwinn – did to become complete failures.  It turns out that the senior executives at the companies all had 7 Habits in common.  Finkelstein calls them the Seven Habits of Spectacularly Unsuccessful Executives.