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Caterpillar, one of the world's most recognised industrial brands, is a leading global manufacturer of construction and mining equipment, as well as diesel and natural gas engines and industrial gas turbines. Currently, Caterpillar operates in North America, Asia Pacific, EAME region and Latin America, with operations in North America accounting for approximately 47% of the company's net revenue in 2022. Caterpillar has been able to win customers' trust and achieve stable business growth through reliable products, advanced technology, user-friendly services and differentiated service solutions. Post-coronavirus, it can be seen that the industry in which Caterpillar operates is vulnerable to changes in the economic and social environment. In addition, the industry is becoming increasingly competitive, especially with the rise of emerging players, such as construction equipment manufacturers in China, who are entering the markets of developing countries with cost-effective products. In addition to that, such as the traditional machinery manufacturing companies in Europe and Japan, their products are not only highly intelligent, but also motorised equipment technology is quite reliable. It is a tough challenge to maintain a competitive edge. Understanding the impact of these changes on the industry and the company helps in assessing the intrinsic value of Caterpillar and its future positioning. Comparing the intrinsic value derived from the three valuation models to the company's market share price as of 31 December 2022 will provide valuable information to investors.

With the rapid development of Internet technology and the acceleration of globalization, cross-border cybercrime has become a global challenge, and its complexity and severity are increasingly prominent. Cyberspace is unbounded, anonymous and real-time, which provides unprecedented convenience for criminals, enabling them to easily cross-national borders and commit a series of criminal acts that seriously endanger national security, social stability and citizens' rights and interests, including online fraud, online gambling, online money laundering and infringement of intellectual property rights. These crimes not only destroy the order of cyberspace, but also pose new challenges to the legal system and jurisdiction of the real world. As two closely linked economies, Macao and China enjoy the convenience brought by the Internet, but they are also deeply troubled by cross-border cybercrimes. Although the two places belong to the same sovereign country, there are significant differences in legal systems, judicial systems and law enforcement practice, which may lead to conflicts and differences in the jurisdiction, investigation, prosecution and trial of cases. These legal conflicts not only affect the fairness of cases, but also hinder the effective cooperation between Macao and China in combating cross-border cybercrimes, posing a serious threat to maintain social stability and protecting citizens' rights and interests in the two places. Therefore, it is not only of great theoretical significance, but also of far-reaching practical significance to study the criminal jurisdiction over cross-border cybercrimes between Macao and China. From a theoretical point of view, the criminal jurisdiction of cross-border cybercrime involves many disciplines such as constitutional law, criminal law, criminal procedure law, and also the application of the Basic Law of Macao, which is a complex research topic. With the continuous innovation of Internet technology, the applicability of the traditional criminal jurisdiction principle in cross-border cybercrimes is seriously challenged. How to re-examine and define the criminal jurisdiction of cross-border cybercrimes in the new era and how to coordinate the jurisdiction conflicts between different jurisdictions have become urgent problems in current legal research. From a practical point of view, cross-border cybercrime has seriously endangered the social stability and economic development of Macao and China. Criminals use the Internet to engage in cross-border gambling, cross-border fraud, spread network viruses and other criminal activities, which not only bring huge economic losses and psychological trauma to the victims, but also seriously undermine the social atmosphere and market order. Therefore, it is of great significance to strengthen the crackdown on cross-border cybercrimes and improve the criminal jurisdiction system of cross-border cybercrimes for maintaining the stability of the society and promoting healthy economic development in both places.

This dissertation investigates the key factors influencing citizens to adopt e-government services in Macao, focusing on the Macao One Account platform. Using the Unified Theory of Acceptance and Use of Technology (UTAUT) framework, the study examines factors such as Performance Expectancy, Effort Expectancy, Social Influence, and Facilitating Conditions, with additional factors including Trust and Perceived Risk. This study is essential to provide a guideline for adopting e-government services effectively, helping policymakers and government entities optimize digital platforms for improved service delivery and user engagement. The research employed a quantitative methodology. The survey data was collected through an online survey in Google Forms distributed to Macao residents who use the Macao One Account platform. The responses of the 126 respondents were analyzed using descriptive statistical methods to identify trends and relationships between the key constructs. The findings reflect that performance expectations, effort expectations, trust, and facilitating conditions are the most influential drivers, with social influence playing a more moderate role. Perceived risk is low, indicating minimal concerns about security or privacy. Usability is an important driver, as most respondents find the platform easy to learn and use. Additionally, the users’ attitudes to the e-government platform could be affected by their trust in the government; reducing risk and increasing confidence can improve the platform's reliability to users. This study shows the need to improve the e-government platform by focusing on users. It includes making it easier to use, building trust with strong data protection, and making it accessible to all citizens. These results give ideas for adopting e-government in Macao and offer simple steps for policymakers to create more inclusive digital services.

Ikea’s entry into the China market and how its become successful in the foreign country

This study aims to conduct a comprehensive analysis of the dual effects of Macao's economic diversification policy, with the intention of exploring its role in fostering economic sustainability. By thoroughly examining Macao's economy, which has traditionally been heavily reliant on the gaming and tourism industries, the study uncovers the implementation effects of the economic diversification policy, the challenges it encounters, and its potential influence on the economy's future trajectory. The research utilizes a mixed-methodology approach, integrating extensive quantitative data analysis with qualitative interviews to ensure the comprehensiveness and systematic nature of the findings. The study's outcomes underscore the beneficial effects of Macao's economic diversification policy in stimulating the growth of new industries, bolstering economic resilience, and attracting foreign investment. However, the policy also faces challenges such as skill shortages, uneven resource distribution, and the impact on traditional economic pillar industries. The research indicates that despite certain progress, Macao's economic diversification process still needs to overcome various internal and external obstacles. In response to the research findings, this study proposes a series of targeted recommendations, including strengthening the connection between education and industry, optimizing resource allocation strategies, stimulating innovation and entrepreneurship, and promoting the collaborative development of traditional and emerging industries. These suggestions aim to assist the Macao government in effectively addressing current challenges and laying a solid foundation for the long-term development of Macao's economy.

This dissertation studies the regulatory framework of aviation reform in the Macau Special Administrative Region, focus on the balance between protecting local businesses and promoting market liberalization. The study explores how Macau, as a highly autonomous local administrative region in China with a relatively small economy, can effectively reform its aviation industry while safeguarding local interests in the face of open market competition. The importance of this study lies in its analysis of Macau's aviation sector reforms. As Macau seeks to diversify its economy and strengthen its position as a member of the Greater Bay Area initiative, the aviation industry presents both opportunities and challenges. This research contributes to the broader discussion of how small jurisdictions with special political status can participate in regional economic integration while maintaining their distinct advantages and protecting local interests. The research uses Doctrinal Legal Research and Comparative Legal Research methodologies, utilizing documentary analysis and comparative study methods. This research examines the legal framework of the aviation industry in Macau and the challenges it is currently facing. A comprehensive review of international aviation laws, bilateral air service agreements, and domestic regulations provides the foundation for analyze. The study also conducts a comparative analyze with Hong Kong's aviation framework, offering alternative regulatory approaches for a similar Special Administrative Region of China. Several interesting findings emerged from this research. First, the study identified a fundamental tension between Macau's stated open skies policy and its practical implementation, particularly in limitations of its current concession-based system and the underutilization of international traffic rights. Second, the analysis highlights how the current concession-based system has created a monopolistic market structure that hinders competition and innovation, exacerbated by outdated legislation. Third, the comparative analysis with Hong Kong highlights the importance of a clear legal framework and rules in balancing market liberalization with local industry protection, areas where Macau's current regulations show deficiencies. The concluding thought based on these findings is that Macau's aviation industry reform requires a careful approach that gradually introduces competitive elements while maintaining protections for local enterprises. The study suggests that successful reform will depend on establishing a comprehensive legal framework, implementing a flexible multi-tiered licensing system, enhancing regulatory oversight, and developing mechanisms for regional integration. These reforms must be tailored to Macau's unique circumstances, considering its small market size, political status, and strategic position within the Greater Bay Area.

As a special administrative region of China, Macau, despite its small size and limited resources, has been actively promoting low-carbon development to address the global climate change challenge. In recent years, Macao has provided important support for achieving the goal of carbon peaking and carbon neutrality by formulating a series of policies, such as energy management, promotion of green buildings and optimization of waste treatment. However, despite the clarity of the policy framework, its actual implementation and effectiveness still need to be systematically reviewed. This study uses a combination of qualitative and quantitative research methods, interviews and questionnaires to gain an in-depth understanding of the social acceptance and public participation of policies, and quantitative data to analyze the implementation effects of policies, with a view to revealing the advantages and disadvantages of low-carbon policies in Macao. The research results will systematically evaluate the effectiveness of low-carbon policies in Macao from multiple levels. On the one hand, quantitative data will provide a clear empirical basis for the progress of low-carbon policies; On the other hand, qualitative research will reveal key social and technological barriers to policy implementation, helping to understand the impact of public attitudes and behaviour on policy effectiveness. These results can not only provide reference for Macao's future low-carbon policy adjustment, but also provide experience for other similar cities to cope with similar challenges in low-carbon development. The importance of this study lies in its dual contribution to academia and practice. At the academic level, this study has enriched the theoretical research on low-carbon city development, especially the special challenges of carbon emission reduction in resource-limited cities. At the practical level, the results of this study can directly provide policy makers with specific suggestions for improving low-carbon policies, such as resource allocation, technology introduction and public awareness. Through these analyses, the study hopes to provide a practical roadmap for Macao to achieve its goal of carbon neutrality, as well as a valuable reference for the low-carbon development of similar cities around the world.

This dissertation examines the relationship between internal corporate communication (ICC)strategies and occupational safety and health (OSH) Management practices in Macau's hospitality industry. The primary objective is to investigate how communication approaches can enhance workplace safety protocols and improve OSH outcomes for corporations in the leisure and entertainment sectors. The study aligns with Macau's several policies and economic development on promoting health and safety. It highlights the critical role of OSH Management in the post-COVID-19 business environment, influencing consumer choices and industry practices. The mixed-methods research identified critical success factors, including aligning OSH goals with corporate objectives, utilizing diverse communication platforms, and establishing a safety culture. Areas for improvement were also uncovered. The findings provide valuable insights for hospitality organizations, emphasizing the critical role of internal communication in driving effective OSH Management. By integrating communication strategies with OSH initiatives, organizations can cultivate a robust safety culture, ensure regulatory compliance, and enhance employee well-being and customer satisfaction - key factors for long-term business success

Given the rapid growth of China's economy and its maturing financial market, state-owned banks have played a crucial role in driving national economic growth and ensuring financial stability. However, this progress has been accompanied by a pressing challenge - the accumulation of non-performing assets (NPAs), which pose significant obstacles to both the banking industry and China's economic development. Therefore, it is imperative to comprehensively analyze strategies aimed at mitigating NPAs in state-owned commercial banks, with an emphasis on seeking more effective resolution mechanisms. This study delves into the institutional environment surrounding NPAs in state-owned banks, including improvements in laws and regulations as well as advancements in financial market structures and legal frameworks. The initial step involves analyzing the current status and manifestations of NPAs within state-owned banks to clarify their ambiguously defined areas. Furthermore, considering China's unique policy context and socio-economic landscape, this study conducts an analysis and comparison of diverse strategies for addressing NPAs from the perspectives of asset quality management, risk-profit equilibrium, and legal regulatory support system. Ultimately, several suggestions are proposed regarding the trajectory of NPA resolution

As the world becomes more globalized, it is now more important than ever for brands and advertisers to find effective ways to engage with consumers of different cultural backgrounds. Developing marketing that targets people of different cultural backgrounds, or multicultural marketing, carries specific nuances and complexities that may make traditional methods fall short. With this being said, there is still a lack of studies that explore the correlation between consumer's cultural background and their overall brand perception. Neuromarketing has proven to be an effective tool to understanding consumer behavior, by utilizing neuroscience tools. To employ a more sophisticated and in-depth understanding of consumer perception, the current research study makes use of neuroscience tools and aims to study the influence of cultural background in brand perception, while in a controlled environment. Using physiological neuroscience tools, namely, facial expression analysis (FEA), electrodermal activity (EDA), and eye-tracking (ET), a total of thirty-eight individuals, with ages between 19 and 50 years old, from 12 different countries and regions, participated in this research study. Findings suggest that participants of different cultural backgrounds perceive multicultural commercials as more favorable than monocultural commercials. However, future research should be done with a larger sample size, as well as include a wider variety of commercials. Research would also benefit from adopting a statistical analysis to help determine the significance of the results obtained

This dissertation identifies factors driving consumer shopping behavior within the realm of live-streaming commerce, an area fast emerging in the e-commerce domain. Live-streaming shopping or commerce involves real-time interaction and entertainment with traditional online shopping, forming a unique endogenous environment where consumers can contact sellers or influencers directly. The study employed quantitative surveys that identified some of the main determining factors of consumer behavior within this context. The findings show that the significant factors in determining consumer behavior are trust and engagement, which are strongly influenced by the credibility and authenticity of the live streamer. Another significant finding is the role of social interaction and community building in providing consumers with a sense of belonging and validation, enhancing their confidence and purchase intention. Moreover, it highlights how marketing strategies of flash sales, limited-time offers, and partnerships with influencers make their way into the system to help invoke engagement and impulsive buying behavior among consumers. The implications of these findings extend to e-commerce platforms and marketers. Any improvements in features leading to trust, engagement, and interactivity within the community would drive higher customer satisfaction and sales. According to researchers, working partnerships with believable influencers and more extensive integrations of real-time marketing might further activate live-streaming commerce. This study thus fills a gap in the existing body of literature by detailing the drivers of consumer behavior toward live-stream commerce. It also identifies areas of future research on the current studies, including developing technologies and the cultural variances in the impact of live-stream commerce, including ethical considerations. These results are principle for guiding work on potential live-stream commerce in the digital age for anybody from workers to academicians

This research is to assess the current status quo, strengths, and weaknesses of financial consumer protection mechanisms in Macao. According to the World Bank, financial consumer protection can bring positive impact on the development of financial sector, broadening financial inclusion and fostering economic growth. In 2022, under the backdrop of COVID-19 and downturn in economy, Macao Government announced its ambition to recover and diversify the economy of Macao by leveraging “1+4” Diversified Development Strategy, in which developing modern finance is one of the main priorities. The new Financial System Act took into effect on 1st November 2023 and this Act will enable non-financial institutions to apply for temporary licenses on fin-tech innovations within a controllable risk area. In the local context, does Macao have a strong financial consumer protection mechanism in place to goal for developing modern finance and face challenges brought by fin-tech? In this research, a mixed method consisting of doctrinal legal research method and comparative legal research method is adopted. 10 jurisdictions (Ireland, Singapore, Australia, United Kingdom, Malaysia, Hong Kong, China, European Union, Canada, and United States) were selected in comparison of rights for financial consumer protection based on the G20/OECD High-Level Principles on Financial Consumer Protection and the results of which were then compared to the rights for financial consumer protection in Macao. The findings of this study show that the main strength of financial consumer protection mechanisms in Macao lies on the supervision of the Monetary Authority of Macao (AMCM) on the banking sector and insurance sector, other financial institutions according to international principles; however, the in-depthness of work done by Macao in financial consumer protection is not as much as those done by other jurisdictions: in Macao, there is no policyholder protection scheme in the event of failure of insurance companies; no mystery shopping and consumer survey done by oversight bodies; narrow range of definition of vulnerable consumers; no financial literacy survey; no in-depth competition law; no in-depth guidelines to monitor advertising materials for financial products; no database for consumers to search for unregulated firms and scammers; no in-depth financial educational materials about the rights of financial consumers. It is recommended that Macao Government can learn from United Kingdom, Canada and European Union to adopt behavioural insights in developing financial consumer protection policy to protect financial consumers from being exploited by the financial service providers based on the consumers’ behavioural biases. Some literature suggested that consumers are vulnerable in digital landscape. Therefore, it is strongly recommended that Macao Government shall take proactive actions to strengthen the current financial consumer protection mechanism by adhering to the G20/OECD High-Level Principles on Financial Consumer Protection, in order to develop modern finance and protect consumers from the risks posed by fin-tech

This dissertation is research regarding the achievements and challenges in artificial intelligence (A) regulation at a domestic level and international level. This study is important because there are more legal issues regarding the application of AI, and AI has grown to be part of the public’s daily lives. A mixed method has been adopted in this research: doctrinal legal research and a comparative legal research method. AI was invented in the 1950s and in the 2000s, has been more accessible to the public. The first AI regulation, the EU AI ACT, has recently been enforced, an AI regulation that has been around for nearly seven decades after its invention. It is high time that regulators in different states invest more effort in AI regulations

In the current context of intensified economic globalization, Chinese state-owned enterprises (SOEs) have actively responded to the "Belt and Road" initiative by expanding their overseas operations, seeking new growth points through competition and cooperation in the global market. However, along with opportunities come the necessity for risk management in the overseas operations of SOEs. Based on theories of systematic and non-systematic risks, this thesis employs methods such as case study analysis and multiple linear regression to thoroughly examine key risk types in SOEs’ overseas operations, including political risks and exchange rate risks. Using quantitative models like the Analytic Hierarchy Process (AHP) and neural network early-warning models, the thesis empirically tests the effectiveness of mechanisms for risk identification, assessment, and control. Data sources include national statistics and corporate annual reports, and techniques such as Principal Component Analysis (PCA) and cluster analysis are applied to reveal statistical characteristics of risk factors and the internal and external linkage mechanisms of risk events. The thesis points out that the management of risks in overseas operations of SOEs not only relies on scientific assessment and precise early warning but also requires the establishment of a risk management framework and governance system that aligns with international rules. Through in-depth analysis of the overseas operations of enterprises like PetroChina and Huawei, the thesis distills strategies for risk prevention and control, such as diversified investment strategies and the construction of compliance risk control systems, and conducts a comprehensive evaluation of the current risk management system, proposing pathways for sustainable development. The outcomes of the research aim to help SOEs enhance their level of risk management, ensure national economic security, and also provide theoretical guidance and practical reference for the implementation of international strategies by SOEs

This dissertation explores Macao residents' experiences and perspectives regarding Macao's public policies and infrastructure for electric vehicles. It delves into residents' viewpoints on the effectiveness of electric vehicle policy implementation, the layout and convenience of public facilities such as charging stations and designated parking spaces for electric vehicles, and their actual experiences and feedback while using electric cars. This study is significant because it provides valuable insights into Macao residents' fundamental attitudes and needs toward electric vehicle policies and public facilities. By understanding these perspectives, policymakers can make more informed decisions to optimize electric vehicle policies and improve public facilities, ultimately promoting the healthy development of the electric vehicle market in Macao and facilitating the construction of a green transportation system. In terms of research methods, this study primarily employed questionnaires to collect data from road users in Macao. The questionnaires were designed to gather comprehensive information on their experiences and feedback related to electric vehicle policies, infrastructure, and usage. The findings of this study are intriguing. Firstly, it was discovered that Macao residents have a relatively low awareness of electric vehicle policies, but generally, they believe these policies contribute to environmental protection. Secondly, regarding public facilities, some residents reported issues such as uneven distribution and insufficient number of charging stations, as well as inadequacies in using and managing designated parking spaces for electric vehicles. Additionally, residents provided specific opinions and suggestions regarding the purchase costs of electric vehicles and government subsidy policies. Based on these findings, my conclusion is that there is an urgent need to optimize and improve Macao's electric vehicle policies and public facilities. Policymakers should increase publicity efforts to raise residents' awareness of electric vehicle policies and reasonably plan the layout of charging stations and designated parking spaces for electric vehicles to enhance their convenience and availability. Furthermore, the government could consider providing more subsidies and preferential policies for purchasing electric vehicles to reduce the financial burden on residents. These measures will help promote the further development of the electric vehicle market in Macao and facilitate the construction of a green transportation system

In early 2020, the COVID-19 virus spread rapidly around the world within months. After countries around the world announced the outbreak of COVID-19, many industries suffered a severe recession, but a few industries were able to buck the trend and maintain good performance. The outbreak has driven strong demand for medical products and pharmaceuticals. As the epidemic continues to spread, people are in urgent need of drugs and vaccines to treat COVID-19, which directly promotes the development of the pharmaceutical industry (Alam et al., 2021). This study aims to explore the impact of announcements from the World Health Organization (WHO) or similar official agencies on the development of the epidemic during the COVID-19 epidemic on the stock prices of specific pharmaceutical companies. The study uses event study methodology to analyze the impact of events in the COVID-19 pandemic on these companies. Through an event study on 7 major events during the COVID-19 pandemic, this study found that the stock price changes of different pharmaceutical companies are not uniform. The WHO announcement of a global pandemic and the emergency authorization announcement of drugs have had different significant impacts on different types of pharmaceutical companies. This study provides new information for understanding the stock return change of specific pharmaceutical companies during the COVID-19 epidemic

The development of green financial products like green bonds and industry financing has gained momentum, showing positive impacts on sustainable economic development, renewable energy investment, and greenhouse gas emission reduction. As the research problem is inadequately explored, this dissertation aims to fill the research gap to evaluate the impacts of green finance on economic development. Furthermore, this study assesses the differences between Asian and non-Asian economies in the impacts of green finance on economic development. Two empirical measures are analyzed in this study.Green finance is measured with the Global Green Finance Index (GGFI), a composite index that captures over 100 instrumental variables, covering the business environment, human capital, infrastructure, and sustainability aspects of a financial center. Growth rate of gross domestic product (GDP) per capita reflects economic development. The dataset encompasses 83 international financial centers from 2018 to 2022. The regression model finds a significant negative relationship between growth rates of GGFI and GDP per capita in the full sample, the Asian subgroup, and the non-Asian subgroup. GGFI growth is confirmed to have Granger caused GDP per capita growth, but GDP per capita growth did not Granger cause GGFI growth. Combined with the insights of the previous studies, this study justifies the findings as a short-term negative impact of green finance on economic growth. However, the Asian region, with many emerging economies, could transition faster, so the regression derives a less negative coefficients for Asian financial centers. The policy implication 5 is that continued government support to improve the effectiveness of green finance is necessary for the long-term benefit of green finance to be fully realized

This research chooses Macau Baptist Church in Macau as the research object, studying the brand and marketing strategy adopted by the church and determining what is essential for Christian churches when they do marketing to build brand awareness. Branding is essential in church communication mechanisms to recruit members and build loyal membership to reach sustainability. This topic is a relatively new study in the research field; the Macau Baptist Church case filled the gap of lack of Asia sampling and provided the perspective from the Baptist in branding church. The research sets off to answer the question of what marketing strategies Christian churches in Macau can adopt to build brand awareness, adopting a qualitative case study research method. The primary data was collected through in-depth interviews with leaders involved and included in the marketing effort of recruitment and evangelisation in Macau Baptist Church. Secondary materials are analysed and collected through printed materials published by Macau Baptist Church, an online social media platform and monthly meeting minutes. Participant observation notes are used in the process of analysing the effectiveness of the strategy used by the church. In branding a Christian church, the key is to understand and accurately interpret the church identity and build a God-centred church to help attendees have a strong relationship with God with the a posteriori of understanding the word of God. A priori experience with God through the services and evangelical campaigns hold by the church. Then, the vision and mission, goal setting, review, and reform will be determined so the church can sustain itself in modern days and achieve church growth

With the comprehensive opening of the global economy, the intensification of market competition and the increasingly prominent value of human resources, all trades and professions are facing unprecedented challenges. In order to remain competitive in the market, human resource management plays an increasingly important role. As an important part of human resource management, enterprise performance management can be used as a key tool to drive the release of employees' potential, which has attracted more and more attention from enterprises. More and more performance management-related systems have been introduced into enterprises. However, in the system introduction and implementation process, there are different degrees of problems, such as ""mechanically copied"" and ""process"". Therefore, according to the specific situation of different enterprises, it is necessary to formulate the corresponding performance management system to maximize the role of motivating employees. This paper explores enterprise performance management's influence on the employee incentive effect. The implementation of enterprise performance management and its influence on employee incentive are analyzed through the literature review, case analysis and empirical analysis. Research has found that effective enterprise performance management can significantly improve the work enthusiasm and satisfaction of employees, thus enhancing the overall performance of enterprises and promoting all-round development. At the same time, this paper also discusses the key factors affecting the incentive effect of enterprise performance management, and puts forward the corresponding optimization suggestions

Macau's retail industry was familiar to all sectors. Retailers take up massive responsibility for the Macau economy. There are few manufacturers in Macau, so products and goods are imported. As the front-line staff of a retail store, employees would need to face many people daily; it can be tiring and stressful for them. Therefore, this study examined the motivational factors of front-line staff in the retail industry. It is crucial to understand various motivational factors, as one of the challenges that retail entrepreneurs face is employee retention. This study evaluated the characteristics of motivation so that managers can develop some strategies for their employees. The qualitative research method was adopted in this study. In-depth interviews were conducted to determine various motivators and the reasons behind their motivation. This study used purposive sampling, and eight candidates were selected to conduct the interview. The results of the interviews concluded that monetary rewards like salary and sales incentives have the most significant effect on motivation. Relationships with colleagues and superiors also affect their motivation in the working environment. Moreover, employee benefits like public holidays, maternity leave, etc, are also one of the motivators. Different participants mentioned other motivators, such as recognition, teamwork, learning and growth opportunities, teamwork, and fit of interest. Based on the research question, this study concluded that monetary rewards have a larger effect on employees' motivation than job benefits. Managers and leaders can develop strategies based on this research, and future research can also examine some other motivational factors with a larger sample