Maslow’s 7 hierarchy of needs has found much greater application in organisation and business settings. The goods and services which were previously offered by businesses are also undergoing significant changes.
Moving from physical and tangible goods, these offer intangible things like connectivity and information. Maslow’s hierarchy model is particularly vital in bringing in newer changes in the financial markets.
Consider these real-life examples
Apart from breathing and eating, bathing and dressing also form part of integral activities fulfilling our basic physiological needs.
Pension or retirement benefits are a critical part of social needs for senior individuals. It belongs to safety needs.
The hierarchy of needs was propounded by Maslow in the domain of psychology. However, the theory has found application in various domains, and as such gaining greater importance with every passing day in business settings.
For a theory which was put forward in 1943, its significance has not diminished in the twenty-first century at all. In both individual and organisational context, the identification and fulfilment of these inherent needs provide the scope for self-improvement, personal development and growth.
i. According to Maslow pyramid of needs, after all the physiological needs are met which of the following aspects do individuals desire for?
(a) Esteem needs
(b) Belonging needs
(c) Self-actualisation needs
(d) Safety needs
ii. Rebecca always feels she is never included in social events or group activities which has given rise to loneliness and depression. According to Abraham Maslow hierarchy of needs, which of the following needs has not been fulfilled?
(a) Safety needs
(b) Physiological needs
(c) Esteem needs
(d) Belonging needs
Solutions: i. (c) Self-actualisation needs, ii. (d) Belonging needs
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1. What is Maslow’s Need Hierarchy Theory?
Ans. Maslow’s hierarchy of needs explained the necessity of fulfilling a five-tier model of human needs which comprise safety needs, physiological needs, belonging needs, self-actualisation needs and esteem needs.
2. What is the Importance of Maslow’s Theory ?
Ans. Maslow’s hierarchy of needs theory is a motivational theory in psychology that identifies specific needs of individuals which have to be met based on the pyramid of hierarchy. Needs at the bottom rung have to be met first.
3. What is the Order of Maslow Theory of Needs, from Bottom to Top?
Ans. Maslow’s hierarchy of needs from bottom to top is – physiological needs, safety needs, belongingness needs, esteem needs and self-actualisation.