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According to Maslow, a human is motivated by the level they have not yet reached, and self-actualization cannot be met until each of the lower levels has been fulfilled. [4] Assumptions of Theory Y, in relation to Maslow's hierarchy put an emphasis on employee higher level needs, such as esteem needs and self-actualization. [4]
Maslow’s hierarchy of needs is a conceptualisation of the needs (or goals) that motivate human behaviour, which was proposed by the American psychologist Abraham Maslow. [ 1 ] [ 2 ] According to Maslow’s original formulation, there are five sets of basic needs that are related to each other in a hierarchy of prepotency (or strength).
In Motivation and Personality, [1] Maslow argues that, in order for individuals to thrive and excel, a health-fostering culture must be created. [5] Maslow is among the psychological theorists who believe that when parents fail to provide a safe, nurturing environment, their children will develop deep feelings of insecurity. [ 6 ]
Maslow had an optimistic and humanistic view of humanity. [7] He regarded people's innate drive towards self-actualization beneficial to society as a whole. [ 8 ] In Maslow's view, once people's basic needs were met, they were free to explore their abilities and strive to further develop those innate abilities. [ 8 ]
Hence, for Maslow transcendence is not so much an extension of his original pyramid as an orthogonal dimension. Theory X, Y and Z all play a role in how a company should manage successfully. Maslow believed the ideal organization would harness the human drive for self-transcendence, as well as the motivations of his original pyramid.
The adaptive market hypothesis, as proposed by Andrew Lo, [1] is an attempt to reconcile economic theories based on the efficient market hypothesis (which implies that markets are efficient) with behavioral economics, by applying the principles of evolution to financial interactions: competition, adaptation, and natural selection. [2]
McGregor was a student of Abraham Maslow. He has contributed much to the development of the management and motivational theory, and is best known for his Theory X and Theory Y as presented in his book 'The Human Side of Enterprise' (1960), which proposed that manager's individual assumptions about human nature and behavior determined how ...
Self-actualization, in Maslow's hierarchy of needs, is the highest personal aspirational human need in the hierarchy.It represents where one's potential is fully realized after more basic needs, such as for the body and the ego, have been fulfilled.