Managers Can Make the Most of Maslow's Need Hierarchy for Success

question 64

Multiple Choice

Managers can make the most of Maslow's need hierarchy for success in their teams by:

• A)recognizing that each individual has a unique set of needs and therefore gearing incentives to meet various needs.
• B)organizing each individual's needs into the categories of existence, relatedness, and growth.
• C)giving physiological needs the maximum importance among other needs.
• D)focusing on each individual's needs or the rewards or punishment meted out in the work environment.

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Definitions:

Cash Discounts

A reduction in the invoice amount by a seller, offered to the buyer in return for early payment of their bill.

Stock Dividends

A form of dividend payment made in the form of additional shares rather than cash, increasing the number of outstanding shares.

Separation Of Duties

A risk management strategy that divides responsibilities within an organization to reduce the risk of fraud or error.

Internal Control System

Procedures and methods to control a firm’s assets as well as monitor its operations.