The University Of Lahore

(School of Accountancy and finance)

Topic:
Maslows Hierarchy of Need & Goal Setting Theory

Group Leader:
Hafiz Muhammad Faizan Aziz

Group Members:
Mohammad Shan Nisar Mujahid Hussian Bhatti Husnian Rasheed Saad Bin Naeem

Class, Semester & Section:

B.Com (Hons) 5th A

Course: Principles of Management Presented To: Sir, Hassan Namdar

Acknowledgement

at all times and making decisions about what we dont know and cant know. Working on this project appeared to be a great experience to us. It added a lot to our knowledge while we were working on this topic. We owe profound gratitude to Mr Hassan Namdar for stimulating our creative abilities by assigning this project to us. It is my conviction that this learning experience will always be a source of help in my practical life and professional career.

I am thankful to my parents how gave me opportunity to study and provide a better living standard.

ABRAHAM MASLOW'S HIERARCHY OF NEEDS MOTIVATIONAL MODEL

Abraham Maslow developed the Hierarchy of Needs model in 1940-50s USA, in which he focus on describing the stages of growth in humans, and the Hierarchy of Needs theory remains valid today for understanding human motivation, management training, and personal development. Indeed, Maslow's ideas surrounding the Hierarchy of Needs concerning the responsibility of employers to provide a workplace environment that encourages and enables employees to fulfill their own unique potential (self-actualization) are today more relevant than ever.

The Maslow's Hierarchy of Needs five-stage model below (structure and terminology - not the precise pyramid diagram itself) is clearly and directly attributable to Maslow; later versions of the theory with added motivational stages are not so clearly attributable to Maslow. These extended models have instead been inferred by others from Maslow's work. Specifically Maslow refers to the needs Cognitive, Aesthetic and Transcendence (subsequently shown as distinct needs levels in some interpretations of his theory) as additional aspects of motivation, but not as distinct levels in the Hierarchy of Needs.

ABRAHAM MASLOW'S HIERARCHY OF NEEDS

Self Actualization

Esteem Needs

Social Needs

Safety Needs Basic, Physiological Needs

Abraham Maslow's Hierarchy of Needs

The best known theory of motivation is probably Abraham Maslow hierarchy of needs theory. Maslow was psychologist who proposed that within every person is a hierarchy of five needs

Basic, physiological Needs:

A persons needs for food, drink, shelter, and sex

Safety Needs:
A persons needs for security and protection from physical and emotional harm.

Social Needs:
A persons needs for affiliation, belongings, and friendships.

Esteem needs:
A persons needs for INTERNAL ESTEEM FACTORS such as self respect autonomy and achievements and EXERNAL FACTORS such as status recognition and attention.

Self Actualization needs:

A persons needs for growth, achieving ones potential and self fulfillment.

POSITIVE POINTS OF THEORY:

This theory is a very good motivational tool. Through this theory we can identify and satisfy needs of our employees. When a manager is identifying and satisfying his employee according to his needs, the employee feels connected with his organization. Maslows hierarchy of needs theory has a sound foundation and still used today. It serves as a basis for several other motivation theories and many business organizations still attempt to meet their employees self actualization needs which are the top of Maslows hierarchy. (Human Relations in Organizations by Robert N. Lussier)

NEGATIVE POINTS OF THEORY

Maslow's theory (the hierarchy of basic human needs) is interesting, but rarely is human behavior as compartmentalized. Some people are able to achieve self-actualization without having some of what Maslow defines as "needs" fulfilled first. Basically he is saying that without your basic survival/safety needs, love, a sense of belonging, self-esteem, without a developed sense of beauty/symmetry/art, without all of that first, you can't become a fully self-actualized person. Some of the things he's defined as needs aren't needs at all. No one can deny that food, air, shelter and such are needs, but may argue that esteem, love, artistic expression are not needs but desires. Self-actualization is not imperative to being a happy or successful person.

Another of the disadvantages of his theory is its rigidity. One person must be able to gratify one level of need first before moving up to another level. For example one cannot move from Social needs unless satisfying the need for love and belonging. And if a person has nothing monetarily but has family (talking of a beggar), thus does not fulfill its Basic and Physiological Needs but still want safety for himself and family. Second, One need is activated at a time. An individual cannot gratify all needs simultaneously. This isnt easy to identify needs of every employee and satisfy according to this.

Chilean economist and philosopher Manfred Max-Neef has also argued fundamental human needs are non-hierarchical, part of the condition of being human; poverty, he argues, may result from any one of these needs being frustrated, denied or unfulfilled.

The order in which the hierarchy is arranged (with self-actualization as the highest order need) has been criticized as being ethnocentric by Geert Hofstede.

Hofstede's criticism of Maslow's pyramid as ethnocentric may stem from the fact that Maslows hierarchy of needs neglects to illustrate and expand upon the difference between the social and intellectual needs of those raised in individualistic societies and those raised in collectivist societies. Maslow created his hierarchy of needs from an individualistic perspective, being that he was from the United States, a highly individualistic nation.

Another problem in this theory is that this ends on the level of self actualization, but in the life of few people who reached self actualization and became well known and popular, after that they want to be lonely. They hide from others not because of shyness but due to the reason that they achieved their goals and objective and now wants to live a peaceful live in which no one interrupts them. They reach far ahead self actualization.

Cultural differences also suggest that the order of hierarchy vary across cultures. In risk-averse countries like Japan, Greece & Mexico Security Needs are the top of the needs hierarchy but in countries like Demark, Sweden, Norway, The Netherlands and Finland which prefer quality of life (Relatioships) over quantity of life (Possessions) Social needs are at the top. A good example is when a U.S. firm in Mexico gave Mexican workers a raise to motivate them to work longer, however the raise actually motivated the employees to work fewer hours because they could now make enough money to live and enjoy life (one of the primary values) on less work hours. (Human Relations in Organizations by Robert N. Lussier)

CONCLUSION
As said earlier, Maslows Hierarchy of Need theory is still considered correct up to some extent and is the base of other motivational theories. Hence the theory is of great importance.