• 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