As part of my goal to stay abreast and read as much as I can about my field of work, I do spend a fair amount of time and energy in following sites and blogs of leading executive coaches, the world over. I have come away from each visit both satisfied and energized. In this context, I came across this thought provoking post in Tony Mayo’s Executive Coaching site. Tony is a leading CEO executive coach whose goal is to ” help people be productive and satisfied”.
While discussing how people are motivated the other day I spoke to the group about the Law of Diminishing Marginal Utility. This law comes from Economics. Simply stated it means that as we increase consumption of a product – while keeping consumption of other products constant – there is a decline in the marginal utility we derive from consuming each additional unit of that product.
What does that have to do with motivation, one might ask. Plenty! Because this law relates to the satisfaction of needs. Take the example of a buffet at a large hotel. There are a zillion things spread out in front of you. If you happen to be hungry, the first part of the meal gives you immense satisfaction as you really needed that food. But as you eat more and more, the resultant satisfaction from the food you eat actually drops. The first helping is brilliant, the second pretty good but when you move for the third or fourth ( depending on your appetite) you feel satiated. No amount of persuasion will make you have some more! Continue reading