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What Is Maslow - Question 5

Maslow's hierarchy of needs is a theory explaining human motivation based on pursuing different levels of needs from basic to advanced. The five levels are physiological, safety, love and belonging, esteem, and self-actualization. The theory states humans are motivated to fulfill lower needs before pursuing higher needs, though levels can overlap.

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167 views3 pages

What Is Maslow - Question 5

Maslow's hierarchy of needs is a theory explaining human motivation based on pursuing different levels of needs from basic to advanced. The five levels are physiological, safety, love and belonging, esteem, and self-actualization. The theory states humans are motivated to fulfill lower needs before pursuing higher needs, though levels can overlap.

Uploaded by

mohit singh
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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What is Maslow’s Hierarchy of Needs?

Maslow’s hierarchy of needs is a theory of psychology explaining


human motivation based on the pursuit of different levels of needs. The theory
states that humans are motivated to fulfill their needs in a hierarchical order.
This order begins with the most basic needs before moving on to more
advanced needs. The ultimate goal, according to this theory, is to reach the fifth
level of the hierarchy: self-actualization.

Maslow’s hierarchy of needs is often referenced in business classes with regard


to organizational behavior and human resources. Climb up Maslow’s hierarchy
and reach self-actualization with CFI’s Financial Modeling & Valuation
Analyst (FMVA)® Certification Program!

History

Maslow’s hierarchy of needs was first introduced in Abraham Maslow’s 1943


paper, “A Theory of Human Motivation.” Maslow later refined this theory in
1954 with his book “Motivation and Personality.” Since then, this theory has
remained a popular subject in sociology, management training, and psychology
classes.

Levels of Hierarchy

There are five main levels to Maslow’s hierarchy of needs. These levels begin
from the most basic needs to the most advanced needs. Maslow originally
believed that a person needed to completely satisfy one level to begin pursuing
further levels.
A more modern perspective is that these levels overlap. As a person reaches
higher levels, their motivation is directed more towards these levels. However,
though their main focus is on higher levels, they will still continue to pursue
lower levels of the hierarchy but with less intensity.

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#1: Physiological Needs

Physiological needs are the lowest level of Maslow’s hierarchy of needs. They
are the most essential things a person needs to survive. They include the need
for shelter, water, food, warmth, rest, and health. A person’s motivation at this
level derives from their instinct to survive.

#2: Safety Needs

The second level of Maslow’s hierarchy of needs consists of safety needs.


Safety, or security needs, relate to a person’s need to feel safe and secure in
their life and surroundings. Motivation comes from the need for law, order, and
protection from unpredictable and dangerous conditions.

There are many examples of safety needs in modern society. To find stability
and security, a person must consider their physical safety. This means seeking
protection from the elements, violent conditions, or health threats and sickness.
Additionally, an individual needs economic safety to live and thrive in modern
societies. This refers to the need for job security, stable income, and savings.
One method of achieving economic safety is to learn proper investment
strategies.

#3: Love and Belonging Needs

The third level of Maslow’s hierarchy of needs is love and belonging needs.
Humans are social creatures that crave interaction with others. This level of the
hierarchy outlines the need for friendship, intimacy, family, and love. Humans
have the need to give and receive love, to feel like they belong in a group. When
deprived of these needs, individuals may experience loneliness or depression.

#4: Esteem Needs

The fourth level of Maslow’s hierarchy of needs is esteem needs. Esteem needs
are related to a person’s need to gain recognition, status, and feel respected.
Once someone has fulfilled their love and belonging needs, they seek to fulfill
their esteem needs.

Maslow broke up esteem needs into two categories: the need for respect from
others and the need for respect from oneself. Respect from others relates to
achieving fame, prestige, and recognition. Respect from oneself relates to
dignity, confidence, competence, independence, and freedom.

#5: Self-Actualization Needs

The fifth and final level of Maslow’s hierarchy of needs is self-actualization


needs. Self-actualization relates to the realization of an individual’s full
potential. At this level, people strive to become the best that they possibly can
be.

The need for self-actualization can manifest in different ways, such as:

1. Obtaining skills (e.g., financial modeling skills)


2. Continued education (e.g., online training courses)
3. Utilizing skills, knowledge, and talents
4. Pursuing life dreams
5. Seeking happiness

One person may strive to become the best parent and everyone’s best friend.
Another person might aim to become a millionaire and philanthropist. Others
may work toward becoming a famous athlete. In general, self-actualization is
the pursuit of personal growth.

Here at CFI, we strive to help people with their self-actualization needs in


becoming world-class financial analysts. Our Financial Modeling & Valuation
Analyst (FMVA)® Certification Program is designed to give you all the skills
you need to succeed as a financial analyst!

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