theory of value vs need

This article is an adaptation of a presentation made by Mr. Abiodun Jegede Paul, the Group Managing Director of Japaul Oil and Maritime Services Plc (JOMS) during an in-house Training session with members of staff. The presentation was aimed at enlightening staff on the need for training, and personal-development.

Why Personal – development?

  1. To add value to your life and being.
  2. To add value to your organization.
  3. To enjoy your life.
  4. To meet the growing needs in your life and society.

Classification of Career training.

  1. Technical training – this has to do with sharpening your professional, technical skills.
  2. Management training – focuses on management of the 4Ms – Material, Money, Machinery and Men.
  3. Leadership training – How to work with people to achieve set objectives.

What is Value?

In the context of this text, Value is defined as “Usefulness”. In the workplace, employees are rewarded with respect to their perceived value. The more value you hold, the more compensation you are likely to get.

Value in the workplace would mean how useful, resourceful, skillful an individual is in the discharge of his/her responsibilities.

99% of employees want a pay raise yet only few deserves a raise – possess the value for the raise they seek. Value adding comes at a price; it does not come on a platter of gold. You pay a price to get the Prize. Can you mention a valuable possession you have without paying a price?

How an individual’s worth is measured?

Your worth is primarily measured by the content and quality of your thoughts. The content of your heart, belief is made manifest in the physical. True riches are not measured by physical possession but by the richness of your thought and mind.

How you can increase in Value?

It begins with improving your thought process, “you are a product of your thought”. The quality of your thought translates to your realities. What you continuously think about brings about the actions you take, your actions become your habits and your habits form your character.

The scripture affirms this in Prov. 23: 7 “As a man thinketh, so is he”.

Career wise, the following would help increase your value

  • Attend professional trainings, workshops and seminars.
  • Read relevant text, articles and journals.
  • Join professional bodies; both online and offline.
  • Study and sit for professional examinations

How your thoughts are formed/ influenced?

Your thoughts are transformed through formal and information education. Formal education include, knowledge acquired through schooling. Informal education is knowledge acquired from parents, media, by observation, the relationships you keep.

Having identified the processes by which your thoughts are formed, it is important to be selective with the type of information you process in your mind. It’s important you choose who your friends are.

Henceforth, pay attention to the information processed in your heart. If the company, relationships you keep are not in sync with your dreams and aspiration, it important you sever such relationships. No one scratches with the turkey and fly with the eagle. Keep no permanent friends, no permanent enemies but have a permanent interest –to be the best you can be.


Businessdictionary.com defines needs as “a motivating force that compels action for its satisfaction. Needs range from basic survival needs (common to all human beings) satisfied by necessities, to cultural, intellectual, and social needs (varying from place to place and age group to age group) satisfied by necessaries”.

Human needs grow from infanthood to adulthood, they begin with the basic needs of food, shelter and clothing. Overtime, preference sets in, you want to choose the type of shoes, clothing’s you wear. Below is a typical example of needs faced by individuals in their lifetime.

  • Need for mobility – car.
  • Need to move out of your parent home – personal security.
  • Need to get marry.
  • Meet the basic needs of your family.
  • Send your children to the best schools
  • Need to provide for your old parents.
  • Need to provide for members of your extended family

These needs and preferences significantly increase with time.

However, individuals have no control over the growth of these needs. On the other hand, to grow in value is a choice. An individual may choose to grow in value or remain rooted on a spot.

How increased value meets your growing needs?

This quote says it all, “If you do what you have to do at the time you have to do it (add value), you will get what you want at the time you need it”. – Jegede Abiodun Paul

Below is a graphical illustration of the Theory of Value Vs Needs below

graph of value vs need

(This graph was conceptualized by The Group Managing Director, Japaul Oil and Maritime Services Plc – Mr. Jegede Abiodun Paul).

The vertical axis represents Values while the horizontal axis represents Needs.

The points A, B, C represents

Represents individuals whose value is equal or greater than their needs. Individuals who have spent time and put much effort develop themselves. People in this category are fulfilled. They have enough to take care of their needs and contribute to the development of the society.
Represents individuals whose value is equal to their needs. Individuals in this category can be said to be comfortable, they can afford the necessities of life.
Represents individuals whose value is less than their needs. People in this category remain rooted on a spot. They make no effort to improve on their skills, knowledge, and education. Hence, they are unfulfilled and live a life of poverty and regrets.

Personal development is way beyond just reading books and meditating. It requires action.
It often involves change and takes you out of your comfort zone. If you don’t change, then nothing about your life will change. If you want and believe in something, you must take the next step and go after it.

Thank you for reading. I will like to read your comments.

Below are some quotes to inspire you,

“If you want to change the fruits, you will first have to change the roots. If you want to change the visible, you must first change the invisible.” ― T. Harv Eker

“As human beings, our greatness lies not so much in being able to remake the world – that is the myth of the atomic age – as in being able to remake ourselves.” ― Mahatma Gandhi

“For the best return on your money, pour your purse into your head.” ― Benjamin Franklin

“If you want to lead an extraordinary life, find out what the ordinary do–and don’t do it.”― Tommy Newberry

“If you are under the impression you have already perfected yourself, you will never rise to the heights you are no doubt capable of.”― Kazuo Ishiguro

“Do not get obsolete like an old technology, keep innovating yourself.”― Sukant Ratnakar

“If you do what you have to do at the time you have to do it, you will get what you want at the time you need it”. – Jegede Abiodun Paul

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