This paper looks at small-business management from the standpoint of Maslow’s hierarchy of needs and Hayes and Wheelwright’s four-stage model. The paper adapts Maslow’s hierarchy of needs model to small- business development and evolution. Additionally, Hayes and Wheelwright’s four-stage model is combined with the adapted Maslow small-business development model. The implications of the new model on the development of small businesses and future research are discussed.
Adams, Jeff; Harris, Chris; and Bohley Martin, Katharine A.
"Explaining Small-Business Development: A Small-Business Development Model Combining the Maslow and the Hayes and Wheelwright Models,"
Journal of the Indiana Academy of the Social Sciences: Vol. 18
, Article 4.
Available at: https://digitalcommons.butler.edu/jiass/vol18/iss1/4