I was browsing this morning, actually looking for who else is writing about business planning in times of crisis, when I came across this video about revising a business plan using Maslow. If you have the time, the whole presentation is worth every minute.
Chip Conley, hotel entrepreneur, looks back on (among other things) how his business weathered the economic crisis of 2001, which was particularly difficult for tourism-related businesses, including, of course, hotels.
In this segment, he explains how he applied Maslow’s Hierarchy of Needs to his business, business model, and business plan. Just as people can strive to be all they can be, so can companies … with three steps towards self actualization. He explains how that worked out in the company’s business plan.
(Note: this is an embedded video requiring Flash Player … so, since some systems are different and limitations arise, if you don’t see the video here, please click here to go to the original.)