- The theory is based upon a hierarchy of needs.
- Individuals satisfy their needs by meeting the lowest level first and working their way upwards.
- Lowest level includes the basic needs for food, shelter, sleep, etc.
- Next level is safety, health, security, etc.
- Moving up includes social needs such as love, affection, friendship, etc.
- Eventually moves up to self-esteem including prestige and respect.
- Final level includes achievement and personal development
Implication of Maslow’s theory in terms of business organization.
- Business must be organized in such a way as to meet all the basic needs of a person
- It must also allow individuals the opportunities to meet their higher level emotional needs if they are to be motivated