The document discusses two approaches to motivation - encouragement versus fear. It describes a movie where one mountain climbing group had an encouraging guide while the other had an abusive one, with the abusive group reaching the top first. It also discusses George Orwell's 1984 and the idea that fear can be used to completely control people. However, the author believes that genuine motivation from a love of an activity is more effective for achievement than fear or greed. The author advocates for an encouraging approach in their role as a fund manager to keep relationships positive and enjoyable.

1. April / May 2017
I once watched a movie some ;me ago about two groups of people whose task
it was to get to the top of a high mountain. One group was given a guide
whose approach was perpetually encouraging; when the group started to lag
she would paint a glorious picture of the top of the mountain and the
triumphant feelings which would occur when it had been successfully arrived
at.
The other group were given, as their guide, a burly ex - marine whose
approach was puni;ve – if they didn’t get to the top they would have him to
deal with.
Towards the end of the programme, we were shown a picture of the summit of
the mountain devoid of people. As the camera focussed on the rocky scene,
we heard in the near distance, the sound of group of climbers being berated by
a furious leader and, sure enough, the first group to appear was the one which
had been abused by their commander. The group which had been encouraged
were by this point feeling totally discouraged as they learnt that they had been
pipped to the top. I felt very disappointed by this movie as I had, un;l that
moment, always believed that encouragement was a much beKer and more
effec;ve way to get people to do something than an approach which promoted
fear.
One of the most important novels of the 20th
Century, “1984” by George Orwell
has as its central theme, the power of fear to control the minds of a
popula;on. Quite contrary to any no;on that people are able to retain an
independence from an authority however dictatorial, Orwell put forward the
deeply depressing view that if people are made truly frightened, they no
longer retain the ability to act independently. In fact, he contended, people are

2. able to be controlled completely through fear. “1984” is the starkest and most
effec;ve warning to us of this…
Despite these two powerful examples, I do not believe that controlling people
by means of fear or greed is the best way to encourage obedience or
achievement. I have no;ced that the people who have achieved most in life
have been those people who have been genuinely mo;vated to do something.
In my experience, it has been the love of an ac;vity which has caused them to
succeed in it. My nephew who most loves playing football is the one who has
made most rapid progress from his brothers because he is always playing it and
In a professional context I feel very strongly that our role as a fund manager
and advisor to investors in that fund, as guardians of an element of their
porWolio in our chosen asset class is to always bring common sense to the
table and to keep what we do simplified and to respect and encourage all
elements of our deals. By s;cking to what we know and love and not being
swayed by the headlines, by greed or by fear we can and do con;nue to
progress and reach objec;ves - together with them (investors and end users) in
a way where everyone enjoys the experience and the rela;onship and
everyone has a return on their investment, their effort and their commitments.
Adam Mackrell
Director
Oxford Spirea Group