One of the best example of this approach is;
Giving bonuses on timely (or before) completion of goals and deducting salary for not completing tasks on time.
or
Giving paid time off is an another example of a carrot and giving works on unfavourable timmings is an example of a stick.
The carrot is the reward for completion of the given task, and the stick is like a punisment which can be given for many reasons like, long pending tasks, not complying with the company policies, etc.
The origins of this approach is considered as to be emerged as a result of the need to motivate the employees to do important and qualitative work in exchange of the various rewards they get.
The general idea behind this a[[roach is, that the humans are lazy and they do not do quality work till they do not get some kind of Catalyst, and here the carrot and the stick works as the catalyst.
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