Briefly Explain the Underlying Principle Behind Each of the Theories

Essay

Briefly explain the underlying principle behind each of the theories of motivation and behavior. What specific aspects are built into incentive plans that are based on each of the theories?
In designing incentive systems, companies should be aware of the different aspects of motivation and behavior. Several theories of motivation and incentive stress different aspects of motivation and behavior. Three major theories are expectancy theory, goal-setting theory, and agency theory.