In order to better understand what motivates human beings, Maslow proposed that human needs can be organized into a hierarchy.
Maslow organized human needs into a pyramid that includes (from lowest-level to highest-level) physiological, safety, love/belonging, esteem, and self-actualization needs.
Physiological needs - these are biological requirements for human survival, e.g. air, food, drink, shelter, clothing, warmth, sex, sleep.
If these needs are not satisfied the human body cannot function optimally. Maslow considered physiological needs the most important as all the other needs become secondary until these needs are met.
2. Safety needs - once an individual’s physiological needs are satisfied, the needs for security and safety become salient. People want to experience order, predictability and control in their lives. These needs can be fulfilled by the family and society (e.g. police, schools, business and medical care).
For example, emotional security, financial security (e.g. employment, social welfare), law and order, freedom from fear, social stability, property, health and wellbeing (e.g. safety against accidents and injury).
3. Love and belongingness needs - after physiological and safety needs have been fulfilled, the third level of human needs is social and involves feelings of belongingness. Belongingness, refers to a human emotional need for interpersonal relationships, affiliating, connectedness, and being part of a group.
Examples of belongingness needs include friendship, intimacy, trust, and acceptance, receiving and giving affection, and love.
4. Esteem needs are the fourth level in Maslow’s hierarchy and include self-worth, accomplishement and respect. Maslow classified esteem needs into two categories: (i) esteem for oneself (dignity, achievement, mastery, independence) and (ii) the desire for reputation or respect from others (e.g., status, prestige).
Maslow indicated that the need for respect or reputation is most important for children and adolescents and precedes real self-esteem or dignity.
5. Self-actualization needs are the highest level in Maslow's hierarchy, and refer to the realization of a person's potential, self-fulfillment, seeking personal growth and peak experiences. Maslow (1943) describes this level as the desire to accomplish everything that one can, to become the most that one can be.
Individuals may perceive or focus on this need very specifically. For example, one individual may have a strong desire to become an ideal parent. In another, the desire may be expressed economically, academically or athletically. For others, it may be expressed creatively, in paintings, pictures, or inventions.
It is based on the premise that the sustainable growth rate is that the debt<span>-equity ratio will be held constant. The sustainable growth rate is the maximum rate of growth of the firm that sustain without having to increase </span><span>financial leverage for outside financing. It is measure of how large the firm and how quickly it can row without borrowing more money.</span>
prices to fall according to the classical economists and unemployment to increase according to Keynes.
Explanation:
The classical economists believes that a decrease in aggregate demand for goods produced would being about fall in the prices of such goods. What this implies is that as more goods are produced, if such production is not backed by corresponding demand by consumers, the prices of such goods produced will eventually fall because supply is greater than demand.
For the Keynes, their argument is that a decrease in aggregate demand will cause unemployment to increase. This is because owners of businesses or employers would lay off their employees when goods produced exceeds the demand for such production by consumers. Here, owners of businesses pays their employees through sales of goods produced. So, when the goods produced are not purchased, then there will be excess availability of such goods; hence no sale or profit, from which salaries would be paid. The next step is to start laying off employees because employers cannot cover their running costs.
Steven needs to create a budget that will list all of his expenses each month with regards to the income he brings in. Once Steven sits down and creates the budget he will see the money that is left over once he is done paying all of his necessary bills. The money that is left over can be saved to purchase a new car.
a. estimate the amount to mitigate high impact and probable issues.
Explanation:
In project management, a contractor can be defined as an individual or organization that temporarily undertakes a project in order to create a unique result, product, and service.
A contingency is an amount of money which is added to the initial or standard cost estimate so as to cover risk exposure and any uncertainty.
When making contingency estimates, the contractor should estimate the amount to mitigate high impact and probable issues.
As a result of uncertainties that are peculiar to everything in life, most especially projects undertaken, it is very important and necessary that the contractor should set aside an amount of money to mitigate or lessen any high impact such as dwindling prices, miscellaneous, faults, repairs and other probable issues that may arise in the process of execution.
