Using Maslow’s Hierarchy of Needs to Redesign a Business Plan

Chip Conley, Modern Elder Academy

Conley explains his own interpretation of Maslow’s Hierarchy of Needs, learned in the context of the hospitality industry. As an entrepreneur, he realized that just as people strive to “be all they can be”, so too can companies. Conley suggests that there are three steps toward elevating to a transformative “self-actualization”. Conley believes these needs can be found in employees, customers, and investors. Joie de Vivre Hotels redesigned their business model, keeping in mind the “higher” needs of these three key constituencies.