Episode 3: Maslow’s Hierarchy and Elements of Value

Featuring: Eric Almquist, Partner, Bain & Company

Published: October 20, 2016

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Partner at Bain & Company, Eric Almquist, shares his research published in Harvard Business Review, “The 30 Elements of Value.” Almquist’s research hypotheses originated when he noticed a trend: companies were delivering many aspects of value—beyond financial value—that were critically important to customers. Borrowing from Abraham Maslow’s hierarchy of needs, Almquist structures elements of value in a pyramid, from “functional” elements all the way to “social impact” elements. Companies with multiple elements of value have greater customer loyalty and grow revenue at a faster rate than companies with just one element of value, according to this research. From his passion for photography and Leica cameras, to his research on the value of Amazon, BMW, and British Airways, Almquist shares what it means for companies to move beyond financial value with the lens of holistic value. 

 

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