Curious Observation – First Step in Decision Making Process
February 12, 2025
Curious observation is the first step in the decision making process. These two words, the curiosity and observation are very important for a decision making process. Curiosity means the desire to know or learn about something. A person who is curious does not accept anything easily. He always has skepticism towards everything. The curious people […]
The global business environment has turned increasingly digital in the pasts few years. It is very common for businesses across the world to conduct most of their business online. This includes transacting with customers, employees, suppliers, and even the government. It is for this reason that the role of computers has drastically increased within the […]
Internal frauds are a big part of the operational risk faced by any organization. This is truer of multinational companies who have business interests in various countries across the globe. This is because there are thousands of people in important positions making business decisions on behalf of the company. Hence, ensuring that all these employees […]
Insurance is one of the most regulated industries in the world. Also, there are multiple players which offer every type of insurance. As a result, the competitive pressures are very high. This ensures that the insurance companies are not able to charge exorbitant premiums. Almost every insurance company across the world is a price taker […]
Change is invariable and undeniable. Product lifecycles have shortened. Geographical boundaries are diminishing. Technology advances in the blink of an eye. Time to market has reduced. Delivery time has compressed. Innovation is faster and more frequent. Conformity is dying. Future is already here. How to deal with this? This is the question that’s been on […]
Abraham Maslow is well renowned for proposing the Hierarchy of Needs Theory in 1943. This theory is a classical depiction of human motivation. This theory is based on the assumption that there is a hierarchy of five needs within each individual. The urgency of these needs varies. These five needs are as follows-
According to Maslow, individuals are motivated by unsatisfied needs. As each of these needs is significantly satisfied, it drives and forces the next need to emerge.
Maslow grouped the five needs into two categories - Higher-order needs and Lower-order needs.
The physiological and the safety needs constituted the lower-order needs. These lower-order needs are mainly satisfied externally. The social, esteem, and self-actualization needs constituted the higher-order needs. These higher-order needs are generally satisfied internally, i.e., within an individual. Thus, we can conclude that during boom period, the employees lower-order needs are significantly met.
![]() | As far as the physiological needs are concerned, the managers should give employees appropriate salaries to purchase the basic necessities of life. Breaks and eating opportunities should be given to employees. |
![]() | As far as the safety needs are concerned, the managers should provide the employees job security, safe and hygienic work environment, and retirement benefits so as to retain them. |
![]() | As far as social needs are concerned, the management should encourage teamwork and organize social events. |
![]() | As far as esteem needs are concerned, the managers can appreciate and reward employees on accomplishing and exceeding their targets. The management can give the deserved employee higher job rank/position in the organization. |
![]() | As far as self-actualization needs are concerned, the managers can give the employees challenging jobs in which the employees’ skills and competencies are fully utilized. Moreover, growth opportunities can be given to them so that they can reach the peak. |
The managers must identify the need level at which the employee is existing and then those needs can be utilized as push for motivation.
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