Self-Actualize
This American psychologist is most associated with the development of the self-actualization concept.
Who is Abraham Maslow?
TRUE OR FALSE?
"Applying Comparative Advantage & self actualization concurrently can lead to conflict as they are mutually exclusive"
This foundational analytical concept is a key element Koch's economic thinking model.
What is "Marginal Analysis"
This is the starting point for each employee to becoming contribution-motivated.
What is "believing in yourself"
This media mogul created both the Wheel of Fortune & Jeopardy theme songs.
Who is "Merv Griffin"
This illustrative pyramid provides the basis for the self-actualization concepts.
What is the "hierarchy of needs"?
Applying RREs correctly optimizes the overall performance of both _____ and the ______
What is "employees" and "team" (or group/department)
Considering and understanding the value of these two items are essential elements in making sound economic decisions.
What are "costs" and "benefits"
This is the opposite of being contribution motivated
What is "deficiency motivated"
This is the amount of money every second place and third place contestant earn, even if they end the show with negative money.
What is $2,000 (2nd place) and $1,000 (third place)
These six words summarize Koch's goal for employee self-actualization.
What is "be all that you can be"?
Correctly applying Comparative Advantage should make employees feel like this in their work
What is "energized"
This type of cost is an unrecoverable past expense
What is "sunk cost"
This is the type of partner Koch strives to be for every stakeholder interaction
What is "preferred" partner?
This is the number of Emmy Awards the Jeopardy game show has won
What is 43
To help employees self-actualize, supervisors must be engaged in engaging in these 4 activities with their employees.
(100 points for each correct item)
What is:
1. Respect employees as individuals
2. Continually evaluate and adjust their roles and responsibilities so they can best contribute.
3. Provide meaningful work that fits each employee's talents and passions
4. Provide ongoing coaching and feedback to promote learning, development and growth.
This type of cost should be considered when a division of labor is used in the comparative advantage model
What is an "opportunity" cost?
Sound economic thinking requires establishing an _________ ____ ____ that can be compared to alternatives.
What is "Optimized Base Case"
A contribution motivated individual demonstrates _______ when facing challenges, unknowns or uncertainties
What is "courage"
Also acceptable: grit, resilience, can-do attitude
This is the lowest Jeopardy score ever recorded on the show.
What is minus $7,400
According to the self-actualization model, only these two "constant" activities can lead to fulfilling happiness
What is constant self-improvement (learning) and self-understanding (self-awareness)?
Applying Comparative Advantage requires a ______ of employees who are ________ __________
What is "diversity" and "contribution motivated"
When these three key items are considered, they can greatly contribute to good economic decisions.
1. Considering other alternatives
2. Understanding the opportunity cost of the alternatives
3. Consider costs/benefits of each alternative
List any 5 qualities of contribution motivated individuals.
- Recognize what they are and are not good at (reality-based view).
- Prefer meaningful work.
- Have personal values of integrity and humility.
- Know when they need help and ask for it
- Are lifelong learners
- Define success as making a positive difference for others.
- Seek responsibilities that align with how they can contribute the most.
- Are intentionally inclusive, collaborative & respectful
- Proactively share knowledge and ideas
- provide and solicit respectful challenge
- develop knowledge networks, and build trusted relationships.
- Always push to find new and better ways to do things.
- Focus on results and outcomes
- Work in a mutually beneficial way
- Demonstrate courage when facing challenges/unknowns
- Demonstrate grit, resilience, can-do
This is the highest possible score a contestant can earn (in dollars) on a single game. Answer plus/minus $50K is acceptable.
What is $566,400?
Tidbit: no one has ever come close to winning that amount in a single game