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I. The Meaning of Money in the Workplace
A. Money and Employee Needs
1. Money is an important factor in satisfying individual needs.
2. Money is a symbol of status, which relates to the innate drive to acquire.
3. Financial gain symbolizes personal accomplishments and relates to growth needs.
4. People value money as a source of feedback and a representation of goal achievement.
5. Compensation is one of the top three factors attracting individuals to work for an organization.
B. Money Attitudes and Values
1. Money tends to create strong emotions and attitudes, most of which are negative, such as anxiety, depression, anger, and helplessness.
2. Money is associated with greed, avarice and occasionally, generosity.
3. People with a strong money ethic believe that money is not evil; that it is a symbol of achievement, respect, and power; and it should be budgeted carefully.
4. Cultural values seem to influence attitudes toward money and a money ethic.
a. People with Confucian work values are more likely to carefully budget their money but are also more likely to spend it.
b. People in countries with a long-term orientation give money a high priority in their lives.
c. Scandinavians, Australians, ad New Zealanders have a strong egalitarian value that discourages people from openly talking about money or displaying their personal wealth.
C. Money and Social Identity
1. &nb ...