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Describe the Basic Features of Maslow's Hierarchy of Needs Theory

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Essay

Describe the basic features of Maslow's hierarchy of needs theory, Alderfer's ERG theory, Herzberg's two-factor theory, and McClelland's acquired needs theory? What guidance does each theory provide to managers?


Definitions:

Protective Tariffs

Taxes imposed on imported goods to protect domestic industries by making foreign products more expensive compared to local ones.

Fair Market Value

The price at which an asset would trade in a competitive auction setting, reflecting the value of an asset in the open market.

Bilateral Trade Agreements

A trade agreement between just two countries.

Most Favored Nation Clause

A clause applying to members of WTO which states that any deal reached between WTO member countries extends to every other member as well.

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