What is more important in business Motivation or Information? Someone says motivation is more important because business can’t grow unless and until employees are motivated to work. However others say information is more important, without information companies can’t do business. So which one is more important? In my opinion we can’t separate motivation and information both are interrelated and equally important to run and compete in business.
Information is required to build competitive products. Unless and until business doesn’t have information about size of market, competitors, customer requirement, perception, business hurdles, regulator concern and future of industry etc. a company can’t build and sell products that will cater to mass market and compete in business.
Motivation comes when a company uses gathered information to develops a product and successfully sell it in a market with desired return. It motivates the company and its employees to gather further information and brings another innovative product in the market. So information and motivation both are interrelated. If you successfully execute information then it motivates you to get further information and build another product and serve the society. Information and motivation is a continuous process were one leads to other.
However complex situation arises when a company launches a product on the basis of gathered information and research but unfortunately product doesn’t succeed in the market and the company can’t make desired return. It makes employees de-motivated. Most of the companies get trapped in this kind of situation were continuous interrelation between information-motivation breaks down and it creates barrier for further growth and innovation. Lot of companies find themselves in a situation where they try each and every thing to compete with their competitors in a particular category of a product line and it makes shrinkage in industry margin for the product and it hurts the company further.
I think instead of giving more emphasis on unsuccessful product line companies should try to fix the continuous process of information-motivation.
Once this process gets re-establish then company can bring another innovative product which can be successful. It’s win-win situation for both society and a company. Society gets new innovative product and company doesn’t have to compete in shrinking margin product line.