... in explaining why management today implements certain policies and also strategic planning. Most psychological theories both early and contemporary have their roots at least to some extent in Taylorism. Taylor believed that workers would be motivated by obtaining the highest possible wages through working in the most efficient and productive way. This approach is known as the rational - economic concept of motivation, also linked with Adam Smith and J.K Galbraith in their explanations of neo - classical economics. Adam Smith believed in economic reward for success and no reward for failure. Employees were afraid of failure which coincides with the idea of hedonism; where individuals tend to seek pleasure and avoid pain, looking to maximise the positive and minimise negative results. This concept of hedonism dates back to the early Greek philosophers and later re - emerged as a popular explanation of behaviour in the eighteenth and nineteenth century ...

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