A1. What role would money play in: (a) the hierarchy-of-needs theory; (b) the motivation-hygiene theory;
(c) the equity theory; and
(d) the expectancy theory?
A1. What role would money play in: (a) the hierarchy-of-needs theory; (b) the motivation-hygiene theory; (c) the equity theory; and
(d) the expectancy theory
Money plays different roles in different theories.
(a) For the Hierarchy-of-needs Theory, Maslow has set up a hierarchy of five levels of needs. Physiological Needs
These are biological needs which are the strongest. Since this is the basic level for human being to survive and search for satisfaction before we move up to second level. In this level, money plays a significant role as we need money to support our physiological needs. Safety Needs
When all physiological needs are satisfied, the needs for security become active. Money also plays its role as we need money to increase our security.
When the needs for safety and physiological are satisfied, we will try to satisfy social needs. Money takes role as we need to overcome feelings of loneliness and alienation. Esteem
When the first three levels of needs are satisfied, the needs for esteem can become dominant. These involve needs for both self-esteem and for the esteem we get from others. When these needs are satisfied, we feel self-confident. Self-Actualization
When all above needs are satisfied, then the need for self-actualization is activated. In the levels of the five needs, people cannot move up to a higher lever if the lower level cannot be satisfied. Money decreases in importance as we move up the Maslow’s Pyramid. (b) For the Motivation-hygiene Theory, which is also called two-factor theory, Herzberg found that job satisfaction and job dissatisfaction acted independently of each other. Besides, there are certain factors in the...
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