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Answer briefly the following questions: Briefly Explain the Two Types of Esteem Needs, as per the Human Needs Stated by Maslow. - Business Studies

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Question

Answer briefly the following questions: 

Briefly explain the two types of esteem needs, as per the human needs stated by Maslow.

Short Note

Solution

Esteemed needs are: Status, power, confidence, self-esteem, achievement, respect, etc. Status: When a person has status, they are widely recognized and are effectively given social power through the influence that is gained. Status may be gained through basic admiration from others. It is also gained by position,

Esteem as a reward:
Esteem: Esteem is often used as a reward. An esteem reward may be a promotion or a ‘lifelong achievement’ award. Although money is useful, beyond a reasonable salary, many people are not strongly influenced by cash incentives. 

Esteem often acts as an intrinsic reward and thus can be far more powerful than extrinsic rewards such as bonus payments or loyalty card points.

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Maslow’s Hierarchy of Needs
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2018-2019 (March)

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