Maslow and Corporate Strategy

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Discuss the impact Abraham Maslow’s work has on corporate strategy, if any. 

Maslow’s work began in 1943 when he discovered that human needs that were not yet satisfied is what drove human behavior. Maslow (1943) also indicated in his theory that after those basic needs were satisfied, those behaviors no longer motivated human behavior. He designed a pyramid to display this theory starting with psychological needs then moving upward to safety and security, and further upward to love and belonging. From love and belonging, the pyramid moves upward to ego, and finally to self-actualization (Maslow, 1943).

Maslow’s theory possesses key considerations for management, including best practices for motivating employees, customers, and other stakeholders (MBAOnlineProgram.com, 2013). For example, corporate leaders can use the Hierarchy of Needs to creatively motivate employees by understanding how needs play into designing a job, salary and compensation, and the best management style to use with individuals (MBAOnlineProgram.com, 2013).

There exists a number of ways that mangers and leaders of organizations can leverage the physiological needs of employees. First, employers can provide sufficient wages that can assist employees with supporting their basic needs (MBAOnlineProgram.com, 2013). Second, organization and corporations can provide job security, retirement plans, and an environment that is safe for working (MBAOnlineProgram.com, 2013). Third, developing a team atmosphere can address the social needs of employees whereby a reciprocal relationship between team members provides motivation for employees to succeed (MBAOnlineProgram.com, 2013).

Fourth, from a sales and marketing standpoint, organizations such as a clothing store, can concentrate on esteem and self-actualization needs by manufacturing clothing that can enhance a person’s self-image to the point that people are encouraged to discover and move towards self-actualization needs. In these ways, organization can use Maslow’s (1943) Hierarchy of Needs to enhance corporate strategies. Using Maslow's (1943) pyramid in an a corporation's strategy is a win-win for both corporations and employees.

References

Maslow, A. H. (1943). A theory of human motivation. Psychological Review.

          50(1), 370-396.

MBAOnline Program. (2013). Maslow’s Hierarchy of Needs & Business

          Strategy. Retrieved from http://www.mba-online-program.com/maslows-

hierarchy-of-needs-business-strategy