Difference between intrinsic and extrinsic reward

Answer 1

- Intrinsic rewards are internal and come from within oneself. They are rooted in the satisfaction, enjoyment, and personal fulfillment that individuals experience as a result of completing a task or achieving a goal. These rewards are often intangible and subjective, such as a sense of accomplishment, pride, or personal growth. Intrinsic rewards can stimulate intrinsic motivation, which is the drive to engage in an activity for its own sake.

- Extrinsic rewards, on the other hand, are external and provided by others. They are typically tangible, measurable, and often have a monetary or material value. Examples of extrinsic rewards include salary, bonuses, promotions, recognition, awards, and other forms of tangible benefits. Extrinsic rewards are designed to motivate individuals by offering external incentives or reinforcements for their performance or behavior. They can lead to extrinsic motivation, which is the drive to engage in an activity primarily to receive external rewards or avoid punishment.

In summary, the main difference between intrinsic and extrinsic rewards lies in their origin and nature. Intrinsic rewards come from within oneself and are focused on personal satisfaction and fulfillment, while extrinsic rewards come from external sources and are typically tangible incentives offered by others.