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.
* An essential task of budgeting is to estimate the degree of resources or funds that will be required in the future to help crafted by set up offices, projects, and exercises. Another significant difficulty of budgeting is to recognize and evaluate elective ways that funds could be used all the more successfully to achieve a given set of strategy objectives or goals. The individuals who are liable for budgeting and appropriating funds will never make some easy time with both of these tasks.
* For strategy and program territories in which the processes fundamental spending requests are justifiable and moderately steady, gradual methods frequently get the job done to create sensibly exact evaluations of budget necessities.
* Since the spending process is protracted and spending requests are portrayed by vulnerability, offices think that its difficult to precisely estimate their budget needs when financial plans are drafted.
The Fed is the shortened term for the Federal Reserve or the United State's Central Bank and Tools of Monetary Policy are communications, actions and tools employed by the Fed to regulate the activities of the economy by regulating the activities of the its member financial institutions.
Specifically, the Federal Reserve has three economic goals as directed by the Congress and they include, moderate long-term interest rates, stable prices and maximum employment. By controling interest rates, making direct lending or buying the treasury bill sof financial institutions among others, the Fed carries out these three economic goals.
In psychology the halo effect is a sort of bias in which a person tries to impress others through his/her overall appearance. The more good your appearance looks, the better your chances would be in impressing others.
In the question, many people wear formal attire because that signifies a level of good appearance that would land them a job. Even though it is not require, the candidate are doing that to get the attention of the interviewer in a way that would help them get the job.
Direct labor cost is irrelevant to decide product A or product B because it is indifferent for both the product. direct labor cost will remain same in both the options.While Direct material 1,2 and 3 are different in both the option.
